Pinnacle Financial Partners (NASDAQ:PNFP) Given Overweight Rating at Stephens

Pinnacle Financial Partners (NASDAQ:PNFP)‘s stock had its “overweight” rating reissued by equities researchers at Stephens in a research note issued on Tuesday, Benzinga reports. They currently have a $109.00 price objective on the financial services provider’s stock. Stephens’ price target would indicate a potential upside of 33.15% from the company’s current price.

A number of other research firms have also recently commented on PNFP. UBS Group reduced their target price on shares of 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. Truist Financial boosted their target price on shares of Pinnacle Financial Partners from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Jefferies Financial Group reduced their target price on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Finally, Barclays started coverage on Pinnacle Financial Partners in a research note on Friday, March 8th. They set an “equal weight” rating and a $93.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Pinnacle Financial Partners currently has a consensus rating of “Hold” and an average price target of $92.71.

Pinnacle Financial Partners Trading Up 0.5 %

Pinnacle Financial Partners stock traded up $0.44 during trading on Tuesday, reaching $81.86. The company had a trading volume of 471,497 shares, compared to its average volume of 456,474. Pinnacle Financial Partners has a 12-month low of $43.31 and a 12-month high of $92.33. The stock’s 50 day moving average price is $82.32 and its two-hundred day moving average price is $79.05. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 11.40 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.90 and a current ratio of 0.90.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 6,306 shares of the firm’s 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 transaction, the chief financial officer now owns 63,856 shares in the company, valued at $5,250,240.32. The sale was disclosed in a document filed with the SEC, which is available through this link. In other 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 transaction, the chief executive officer now owns 294,790 shares in the company, valued at approximately $24,237,633.80. The transaction was disclosed in a document filed 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 shares were 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 in the company, valued at approximately $5,250,240.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,844 shares of company stock worth $3,933,734. Insiders own 1.87% of the company’s stock.

Hedge Funds Weigh In On Pinnacle Financial Partners

Institutional investors have recently modified their holdings of the business. Rise Advisors LLC bought a new position in shares of Pinnacle Financial Partners during the 1st quarter valued at about $26,000. Bruce G. Allen Investments LLC bought a new stake in Pinnacle Financial Partners in the 4th quarter valued at approximately $32,000. Emerald Advisers LLC bought a new stake in Pinnacle Financial Partners in the 3rd quarter valued at approximately $27,000. Fifth Third Bancorp lifted its stake in Pinnacle Financial Partners by 101.4% in the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 213 shares in the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in Pinnacle Financial Partners in the 4th quarter valued at approximately $44,000. Institutional investors own 87.40% of the company’s stock.

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.