Pinnacle Financial Partners (NASDAQ:PNFP) Receives “Overweight” Rating from Stephens

Stephens restated their overweight rating on shares of Pinnacle Financial Partners (NASDAQ:PNFP) in a research note issued to investors on Tuesday, Benzinga reports. Stephens currently has a $109.00 target price on the financial services provider’s stock.

Several other analysts have also commented on PNFP. Truist Financial raised their price objective on Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a buy rating in a report on Monday, April 1st. Jefferies Financial Group dropped their price objective on Pinnacle Financial Partners from $88.00 to $85.00 and set a hold rating on the stock in a report on Monday, April 8th. Barclays started coverage on Pinnacle Financial Partners in a research report on Friday, March 8th. They issued an equal weight rating and a $93.00 target price on the stock. Finally, UBS Group decreased their target price on Pinnacle Financial Partners from $91.00 to $90.00 and set a neutral rating on the stock in a research report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $93.50.

Pinnacle Financial Partners Stock Down 0.1 %

Pinnacle Financial Partners stock opened at $81.34 on Tuesday. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 11.33 and a beta of 1.08. Pinnacle Financial Partners has a 52 week low of $43.31 and a 52 week high of $92.33. The business’s 50-day moving average price is $82.34 and its 200 day moving average price is $79.15. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.44.

Insider Buying and Selling

In related news, CEO M Terry Turner sold 24,057 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $1,977,966.54. Following the transaction, the chief executive officer now owns 294,790 shares in the company, valued at $24,237,633.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 6,306 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total value of $518,479.32. Following the sale, the chief financial officer now owns 63,856 shares in the company, valued at $5,250,240.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO M Terry Turner sold 24,057 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $1,977,966.54. Following the completion of the sale, the chief executive officer now owns 294,790 shares in the company, valued at approximately $24,237,633.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,844 shares of company stock worth $3,933,734. 1.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System grew its stake in shares of Pinnacle Financial Partners by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 21,900 shares of the financial services provider’s stock valued at $1,881,000 after buying an additional 300 shares in the last quarter. Amalgamated Bank grew its stake in shares of Pinnacle Financial Partners by 2.4% in the first quarter. Amalgamated Bank now owns 51,681 shares of the financial services provider’s stock valued at $4,438,000 after buying an additional 1,188 shares in the last quarter. Hunter Perkins Capital Management LLC acquired a new stake in shares of Pinnacle Financial Partners in the first quarter valued at $1,071,000. Raymond James & Associates grew its stake in shares of Pinnacle Financial Partners by 8.7% in the first quarter. Raymond James & Associates now owns 202,812 shares of the financial services provider’s stock valued at $17,418,000 after buying an additional 16,191 shares in the last quarter. Finally, Norden Group LLC acquired a new stake in shares of Pinnacle Financial Partners in the first quarter valued at $1,065,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

About Pinnacle Financial Partners

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.