Pinnacle Financial Partners (NYSE:PNFP) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Pinnacle Financial Partners (NYSE:PNFP) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

A number of other brokerages have also recently commented on PNFP. Weiss Ratings began coverage on Pinnacle Financial Partners in a report on Monday, March 9th. They set a “hold (c+)” rating for the company. Barclays lifted their price target on Pinnacle Financial Partners from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. TD Cowen restated a “buy” rating on shares of Pinnacle Financial Partners in a report on Wednesday, January 7th. Bank of America initiated coverage on shares of Pinnacle Financial Partners in a research note on Monday, December 8th. They set a “buy” rating and a $113.00 target price on the stock. Finally, Citigroup upped their target price on shares of Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, January 26th. One 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.41.

Pinnacle Financial Partners Stock Performance

PNFP opened at $82.94 on Thursday. Pinnacle Financial Partners has a twelve month low of $81.08 and a twelve month high of $120.46. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $6.43 billion, a P/E ratio of 10.25, a P/E/G ratio of 0.38 and a beta of 1.02.

Pinnacle Financial Partners Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 6th were given a $0.50 dividend. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is presently 24.72%.

Insider Buying and Selling

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were acquired at an average price of $94.52 per share, with a total value of $94,520.00. Following the purchase, the chief financial officer directly owned 49,485 shares in the company, valued at approximately $4,677,322.20. This trade represents a 2.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.46% of the stock is owned by corporate insiders.

Institutional Trading of Pinnacle Financial Partners

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of Pinnacle Financial Partners by 1.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company’s stock valued at $704,000 after buying an additional 116 shares during the last quarter. Villanova Investment Management Co LLC boosted its position in Pinnacle Financial Partners by 0.4% during the fourth quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock worth $2,720,000 after acquiring an additional 118 shares during the last quarter. EJF Capital LLC grew its stake in Pinnacle Financial Partners by 2.5% in the 2nd quarter. EJF Capital LLC now owns 5,138 shares of the company’s stock worth $567,000 after acquiring an additional 127 shares during the period. Profund Advisors LLC raised its holdings in Pinnacle Financial Partners by 4.6% in the 3rd quarter. Profund Advisors LLC now owns 2,895 shares of the company’s stock valued at $272,000 after acquiring an additional 127 shares during the last quarter. Finally, Diversified Trust Co. raised its holdings in Pinnacle Financial Partners by 0.3% in the 4th quarter. Diversified Trust Co. now owns 54,349 shares of the company’s stock valued at $5,185,000 after acquiring an additional 137 shares during the last quarter. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

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.