Pinnacle Financial Partners’ (PNFP) Overweight Rating Reiterated at Stephens

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

PNFP has been the subject of several other reports. Truist Financial upped their price objective on 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 cut their price objective 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. Barclays began 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 on the stock. Finally, UBS Group reduced their target price on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $92.71.

Pinnacle Financial Partners Trading Up 0.5 %

Shares of PNFP stock traded up $0.44 on Tuesday, reaching $81.86. 471,497 shares of the stock were exchanged, compared to its average volume of 456,474. The stock has a market cap of $6.31 billion, a PE ratio of 11.40 and a beta of 1.08. Pinnacle Financial Partners has a one year low of $43.31 and a one year high of $92.33. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a 50 day moving average price of $82.32 and a 200 day moving average price of $79.05.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Chairman Richard D. Callicutt II sold 11,030 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 $906,886.60. Following the sale, the chairman now owns 97,226 shares in the company, valued at $7,993,921.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other 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 directly owns 63,856 shares of the company’s stock, valued at $5,250,240.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard D. Callicutt II sold 11,030 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $906,886.60. Following the completion of the transaction, the chairman now owns 97,226 shares of the company’s stock, valued at $7,993,921.72. The disclosure for this sale can be found here. Insiders have sold 47,844 shares of company stock worth $3,933,734 over the last 90 days. Corporate insiders own 1.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Pinnacle Financial Partners by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,161,175 shares of the financial services provider’s stock worth $624,598,000 after purchasing an additional 63,477 shares in the last quarter. Wasatch Advisors LP lifted its stake in Pinnacle Financial Partners by 41.8% in the 1st quarter. Wasatch Advisors LP now owns 3,341,417 shares of the financial services provider’s stock worth $286,961,000 after purchasing an additional 985,694 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Pinnacle Financial Partners by 14.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,647,881 shares of the financial services provider’s stock worth $230,951,000 after purchasing an additional 334,502 shares in the last quarter. FMR LLC lifted its stake in Pinnacle Financial Partners by 3.4% in the 3rd quarter. FMR LLC now owns 2,084,141 shares of the financial services provider’s stock worth $139,721,000 after purchasing an additional 69,197 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Pinnacle Financial Partners by 102.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,870,441 shares of the financial services provider’s stock worth $125,394,000 after purchasing an additional 947,704 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

About Pinnacle Financial Partners

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.