Pinnacle Financial Partners (NASDAQ:PNFP) Downgraded to “Strong Sell” at BidaskClub

Share on StockTwits

Pinnacle Financial Partners (NASDAQ:PNFP) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Wednesday, October 24th.

Several other research firms have also weighed in on PNFP. Zacks Investment Research lowered shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Hovde Group reaffirmed an “outperform” rating on shares of Pinnacle Financial Partners in a research note on Thursday, July 5th. ValuEngine downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Friday, June 29th. Stephens reaffirmed a “buy” rating and set a $74.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, October 3rd. Finally, Wells Fargo & Co set a $72.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Three equities research analysts have rated the stock with a sell rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $70.67.

Shares of PNFP traded up $0.56 during mid-day trading on Wednesday, reaching $54.19. 407,800 shares of the company’s stock were exchanged, compared to its average volume of 535,676. Pinnacle Financial Partners has a 52-week low of $49.92 and a 52-week high of $69.95. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 0.70 and a beta of 1.12. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.97 and a quick ratio of 0.97.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.02. The company had revenue of $240.90 million for the quarter, compared to analyst estimates of $236.67 million. Pinnacle Financial Partners had a net margin of 26.97% and a return on equity of 9.09%. During the same quarter last year, the business earned $0.90 EPS. On average, equities analysts expect that Pinnacle Financial Partners will post 4.71 earnings per share for the current fiscal year.

In related news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $63.49, for a total value of $101,584.00. Following the sale, the insider now directly owns 27,975 shares in the company, valued at approximately $1,776,132.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.39% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in PNFP. Wedge Capital Management L L P NC raised its holdings in shares of Pinnacle Financial Partners by 73.8% during the second quarter. Wedge Capital Management L L P NC now owns 966,731 shares of the financial services provider’s stock valued at $59,309,000 after acquiring an additional 410,479 shares during the period. The Manufacturers Life Insurance Company increased its stake in Pinnacle Financial Partners by 20.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,724,820 shares of the financial services provider’s stock valued at $103,748,000 after buying an additional 295,498 shares during the period. BlackRock Inc. increased its stake in Pinnacle Financial Partners by 4.4% in the 2nd quarter. BlackRock Inc. now owns 6,485,908 shares of the financial services provider’s stock valued at $397,909,000 after buying an additional 273,386 shares during the period. Jennison Associates LLC increased its stake in Pinnacle Financial Partners by 7.1% in the 2nd quarter. Jennison Associates LLC now owns 3,501,820 shares of the financial services provider’s stock valued at $214,837,000 after buying an additional 233,210 shares during the period. Finally, Monarch Partners Asset Management LLC acquired a new position in Pinnacle Financial Partners in the 2nd quarter valued at approximately $12,144,000. Institutional investors and hedge funds own 78.48% of the company’s stock.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.

Recommended Story: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

Receive News & Ratings for Pinnacle Financial Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.