Pinnacle Financial Partners (NASDAQ:PNFP) has been given a consensus recommendation of “Buy” by the fourteen research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $76.25.
Several research firms have recently commented on PNFP. ValuEngine lowered shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 29th. Hovde Group reaffirmed an “outperform” rating on shares of Pinnacle Financial Partners in a research report on Thursday. BidaskClub lowered shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research report on Saturday, June 16th. Finally, Zacks Investment Research lowered shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research report on Thursday, March 29th.
Get Pinnacle Financial Partners alerts:
Pinnacle Financial Partners traded up $0.80, reaching $63.20, during mid-day trading on Tuesday, MarketBeat reports. The company’s stock had a trading volume of 6,008 shares, compared to its average volume of 573,530. Pinnacle Financial Partners has a 12-month low of $58.40 and a 12-month high of $69.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.01. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 0.94 and a beta of 1.07.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Monday, April 16th. The financial services provider reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Pinnacle Financial Partners had a return on equity of 7.52% and a net margin of 24.09%. The business had revenue of $218.60 million during the quarter, compared to analyst estimates of $220.48 million. During the same quarter in the previous year, the firm earned $0.83 EPS. Pinnacle Financial Partners’s revenue was up 83.5% on a year-over-year basis. research analysts predict that Pinnacle Financial Partners will post 4.74 earnings per share for the current year.
In related news, Chairman Richard D. Callicutt II sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $65.56, for a total transaction of $1,311,200.00. Following the completion of the transaction, the chairman now directly owns 168,741 shares in the company, valued at approximately $11,062,659.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $65.09, for a total value of $195,270.00. Following the transaction, the insider now owns 37,875 shares of the company’s stock, valued at $2,465,283.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,500 shares of company stock valued at $1,868,549. 3.39% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in PNFP. Highlander Capital Management LLC bought a new position in shares of Pinnacle Financial Partners during the 1st quarter valued at approximately $124,000. ING Groep NV bought a new position in shares of Pinnacle Financial Partners during the 1st quarter valued at approximately $203,000. Brown Advisory Inc. bought a new position in shares of Pinnacle Financial Partners during the 1st quarter valued at approximately $345,000. Hilton Capital Management LLC bought a new position in shares of Pinnacle Financial Partners during the 1st quarter valued at approximately $394,000. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at approximately $444,000. Institutional investors own 76.31% of the company’s stock.
About Pinnacle Financial Partners
Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.