Pinnacle Financial Partners (NASDAQ:PNFP) Upgraded to “Moderate Buy” at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Pinnacle Financial Partners (NASDAQ:PNFP) to a moderate buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Raymond James Financial raised Pinnacle Financial Partners from a “market perform” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a research report on Thursday, December 11th. Barclays raised their price target on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Truist Financial lowered their price objective on shares of Pinnacle Financial Partners from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, October 17th. TD Cowen began coverage on shares of Pinnacle Financial Partners in a research report on Thursday, September 25th. They issued a “buy” rating and a $122.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Pinnacle Financial Partners from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $112.81.

Pinnacle Financial Partners Trading Up 1.3%

NASDAQ:PNFP opened at $98.17 on Monday. The business’s 50-day simple moving average is $93.40 and its 200-day simple moving average is $96.58. Pinnacle Financial Partners has a fifty-two week low of $81.57 and a fifty-two week high of $127.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $7.62 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 0.48 and a beta of 1.02.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.22. The company had revenue of $544.80 million during the quarter, compared to analysts’ expectations of $526.40 million. Pinnacle Financial Partners had a net margin of 19.17% and a return on equity of 9.91%. During the same quarter in the prior year, the company earned $1.86 earnings per share. Sell-side analysts expect that Pinnacle Financial Partners will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 7th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, November 7th. Pinnacle Financial Partners’s payout ratio is currently 12.20%.

Insider Buying and Selling

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total value of $630,075.00. Following the transaction, the chairman directly owned 202,505 shares in the company, valued at $18,832,965. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director G Kennedy Thompson bought 5,000 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were bought at an average price of $87.63 per share, with a total value of $438,150.00. Following the purchase, the director owned 33,372 shares in the company, valued at $2,924,388.36. The trade was a 17.62% increase in their position. The SEC filing for this purchase provides additional information. 1.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PNFP. AQR Capital Management LLC grew its position in shares of Pinnacle Financial Partners by 309.4% in the first quarter. AQR Capital Management LLC now owns 129,514 shares of the financial services provider’s stock valued at $13,473,000 after purchasing an additional 97,876 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Pinnacle Financial Partners by 6.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the financial services provider’s stock valued at $69,060,000 after purchasing an additional 37,989 shares during the period. United Services Automobile Association acquired a new position in Pinnacle Financial Partners in the 1st quarter valued at $526,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Pinnacle Financial Partners by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 272,928 shares of the financial services provider’s stock valued at $28,941,000 after buying an additional 18,456 shares in the last quarter. Finally, SCS Capital Management LLC bought a new position in Pinnacle Financial Partners during the 1st quarter worth $527,000. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.