Pinnacle Financial Partners, Inc. (NYSE:PNFP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Pinnacle Financial Partners, Inc. (NYSE:PNFP) has earned an average rating of “Moderate Buy” from the twenty analysts that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $114.8824.

Several research analysts recently commented on the stock. Evercore reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pinnacle Financial Partners in a research note on Thursday, June 4th. Barclays decreased their target price on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Finally, Stephens lifted their target price on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th.

Pinnacle Financial Partners Price Performance

Shares of NYSE PNFP opened at $95.52 on Thursday. Pinnacle Financial Partners has a one year low of $81.08 and a one year high of $120.46. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The company’s 50 day simple moving average is $96.02. The company has a market capitalization of $7.41 billion, a PE ratio of 13.25, a P/E/G ratio of 0.38 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP) last issued its earnings results on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.30 by $0.09. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. As a group, equities analysts expect that Pinnacle Financial Partners will post 10.25 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 1st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, May 1st. Pinnacle Financial Partners’s payout ratio is presently 27.74%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Pinnacle Financial Partners by 1,697.4% in the third quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company’s stock valued at $306,474,000 after acquiring an additional 3,085,867 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Pinnacle Financial Partners by 80.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,035,295 shares of the company’s stock valued at $433,712,000 after acquiring an additional 2,244,659 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Pinnacle Financial Partners in the third quarter valued at $187,822,000. Alyeska Investment Group L.P. bought a new stake in Pinnacle Financial Partners in the fourth quarter valued at $159,545,000. Finally, Norges Bank bought a new stake in Pinnacle Financial Partners in the fourth quarter valued at $116,349,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.