Pinnacle Financial Partners (NYSE:PNFP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Pinnacle Financial Partners (NYSE:PNFP) to a sell rating in a research note issued to investors on Tuesday.

Several other equities analysts have also recently weighed in on PNFP. JPMorgan Chase & Co. boosted their price objective on Pinnacle Financial Partners from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price target on Pinnacle Financial Partners from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, January 9th. Barclays increased their price objective on Pinnacle Financial Partners from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pinnacle Financial Partners in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $113.41.

Pinnacle Financial Partners Price Performance

Pinnacle Financial Partners stock opened at $83.45 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89. Pinnacle Financial Partners has a fifty-two week low of $81.57 and a fifty-two week high of $120.46. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 0.39 and a beta of 1.02.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is 24.72%.

Insider Activity at Pinnacle Financial Partners

In other news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of Pinnacle Financial Partners stock in a transaction on Thursday, February 12th. The stock was bought at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the transaction, the chief financial officer owned 49,485 shares of the company’s stock, valued at $4,677,322.20. The trade was a 2.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.46% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. bought a new position in shares of Pinnacle Financial Partners during the third quarter valued at $26,000. High Point Wealth Management LLC bought a new stake in shares of Pinnacle Financial Partners in the 4th quarter worth about $27,000. BOKF NA grew its holdings in shares of Pinnacle Financial Partners by 1,204.5% in the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the last quarter. Activest Wealth Management acquired a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth about $28,000. Finally, Covestor Ltd lifted its holdings in Pinnacle Financial Partners by 193.9% during the 3rd quarter. Covestor Ltd now owns 338 shares of the company’s stock valued at $32,000 after purchasing an additional 223 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.

About Pinnacle Financial Partners

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.