Pinnacle Financial Partners (NASDAQ:PNFP) Given New $105.00 Price Target at Wells Fargo & Company

Pinnacle Financial Partners (NASDAQ:PNFP) had its price objective decreased by investment analysts at Wells Fargo & Company from $125.00 to $105.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.58% from the stock’s current price.

A number of other research firms have also recently weighed in on PNFP. Barclays lowered their price target on Pinnacle Financial Partners from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup upped their target price on Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Stephens reaffirmed an “overweight” rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Hovde Group decreased their price objective on shares of Pinnacle Financial Partners from $135.00 to $120.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.70.

Pinnacle Financial Partners Stock Performance

Shares of Pinnacle Financial Partners stock traded up $9.48 on Wednesday, reaching $96.71. 582,718 shares of the stock were exchanged, compared to its average volume of 491,223. The firm has a market capitalization of $7.48 billion, a PE ratio of 16.11 and a beta of 0.94. Pinnacle Financial Partners has a 1-year low of $73.62 and a 1-year high of $131.91. The business has a fifty day moving average price of $110.15 and a two-hundred day moving average price of $112.16. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.80 by $0.10. The company had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The business’s revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 EPS. As a group, research analysts anticipate that Pinnacle Financial Partners will post 7.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO M Terry Turner sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total transaction of $201,260.00. Following the completion of the sale, the chief executive officer now owns 254,552 shares in the company, valued at approximately $25,615,567.76. The trade was a 0.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Ingram sold 10,309 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.00, for a total transaction of $1,298,934.00. Following the completion of the transaction, the director now owns 82,256 shares in the company, valued at $10,364,256. The trade was a 11.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,350 shares of company stock valued at $11,421,320. Insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of large investors have recently modified their holdings of the stock. Quantinno Capital Management LP grew its stake in shares of Pinnacle Financial Partners by 41.5% during the third quarter. Quantinno Capital Management LP now owns 17,842 shares of the financial services provider’s stock valued at $1,748,000 after acquiring an additional 5,236 shares in the last quarter. Barclays PLC increased its stake in shares of Pinnacle Financial Partners by 117.0% in the third quarter. Barclays PLC now owns 167,838 shares of the financial services provider’s stock worth $16,442,000 after buying an additional 90,478 shares during the last quarter. Geode Capital Management LLC raised its holdings in Pinnacle Financial Partners by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,328,564 shares of the financial services provider’s stock valued at $130,192,000 after acquiring an additional 8,604 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in Pinnacle Financial Partners by 585.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 27,465 shares of the financial services provider’s stock valued at $2,691,000 after acquiring an additional 23,456 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Pinnacle Financial Partners during the 3rd quarter worth $229,000. Institutional investors and hedge funds 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.