Pinnacle Financial Partners, Inc. (NASDAQ:PNFP – Get Free Report) has received an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $99.00.
A number of analysts have recently issued reports on PNFP shares. Barclays lifted their price objective on shares of Pinnacle Financial Partners from $93.00 to $97.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Hovde Group cut their price target on Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating for the company in a report on Tuesday, April 23rd. JPMorgan Chase & Co. cut their price target on shares of Pinnacle Financial Partners from $108.00 to $105.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Truist Financial increased their target price on Pinnacle Financial Partners from $87.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Stephens lowered their price objective on shares of Pinnacle Financial Partners from $109.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd.
Check Out Our Latest Research Report on PNFP
Institutional Trading of Pinnacle Financial Partners
Pinnacle Financial Partners Stock Performance
Shares of PNFP stock traded down $0.17 during trading hours on Monday, reaching $86.97. 260,243 shares of the company traded hands, compared to its average volume of 456,253. The company has a market cap of $6.72 billion, a P/E ratio of 12.44 and a beta of 1.07. Pinnacle Financial Partners has a 12-month low of $59.66 and a 12-month high of $98.58. The firm has a 50-day moving average price of $83.23 and a 200 day moving average price of $82.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90.
Pinnacle Financial Partners (NASDAQ:PNFP – Get Free Report) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.03. The business had revenue of $366.55 million during the quarter, compared to the consensus estimate of $426.40 million. Pinnacle Financial Partners had a return on equity of 8.97% and a net margin of 13.93%. As a group, sell-side analysts predict that Pinnacle Financial Partners will post 6.83 earnings per share for the current fiscal year.
Pinnacle Financial Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 2nd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, August 2nd. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 12.59%.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.
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