Pinnacle Financial Partners (NASDAQ:PNFP) Price Target Lowered to $108.00 at JPMorgan Chase & Co.

Pinnacle Financial Partners (NASDAQ:PNFP) had its price objective decreased by JPMorgan Chase & Co. from $110.00 to $108.00 in a research note published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Several other analysts also recently commented on PNFP. Hovde Group dropped their price objective on Pinnacle Financial Partners from $104.00 to $99.00 and set an outperform rating on the stock in a research note on Tuesday. Truist Financial increased their target price on Pinnacle Financial Partners from $93.00 to $99.00 and gave the stock a buy rating in a report on Monday, April 1st. Stephens reiterated an overweight rating and set a $109.00 target price on shares of Pinnacle Financial Partners in a report on Tuesday. Jefferies Financial Group lowered their target price on Pinnacle Financial Partners from $88.00 to $85.00 and set a hold rating for the company in a report on Monday, April 8th. Finally, UBS Group lowered their target price on Pinnacle Financial Partners from $91.00 to $90.00 and set a neutral rating for the company in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Pinnacle Financial Partners presently has an average rating of Hold and a consensus price target of $96.13.

Pinnacle Financial Partners Stock Performance

Shares of Pinnacle Financial Partners stock opened at $82.96 on Wednesday. The company has a market capitalization of $6.39 billion, a PE ratio of 11.87 and a beta of 1.08. Pinnacle Financial Partners has a 12 month low of $43.31 and a 12 month high of $92.33. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $82.35 and its 200 day simple moving average is $79.18.

Insider Buying and Selling

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

Institutional Investors Weigh In On Pinnacle Financial Partners

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Pinnacle Financial Partners by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 7,161,175 shares of the financial services provider’s stock worth $624,598,000 after acquiring an additional 63,477 shares during the last quarter. Wasatch Advisors LP lifted its position in Pinnacle Financial Partners by 41.8% during the first quarter. Wasatch Advisors LP now owns 3,341,417 shares of the financial services provider’s stock worth $286,961,000 after acquiring an additional 985,694 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Pinnacle Financial Partners by 14.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,647,881 shares of the financial services provider’s stock worth $230,951,000 after acquiring an additional 334,502 shares during the last quarter. FMR LLC lifted its position in Pinnacle Financial Partners by 3.4% during the third quarter. FMR LLC now owns 2,084,141 shares of the financial services provider’s stock worth $139,721,000 after acquiring an additional 69,197 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Pinnacle Financial Partners by 102.7% during the third quarter. Wellington Management Group LLP now owns 1,870,441 shares of the financial services provider’s stock worth $125,394,000 after acquiring an additional 947,704 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.

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.