Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) have earned a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $113.00.

PNFP has been the topic of several research analyst reports. Piper Sandler raised shares of Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and raised their price target for the company from $117.00 to $120.00 in a report on Monday, January 5th. Bank of America started coverage on Pinnacle Financial Partners in a research note on Monday, December 8th. They issued a “buy” rating and a $113.00 target price for the company. Wells Fargo & Company dropped their target price on Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday, October 17th. Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a report on Monday, January 5th. Finally, DA Davidson started coverage on Pinnacle Financial Partners in a research report on Monday, January 5th. They issued a “neutral” rating and a $110.00 price objective for the company.

Pinnacle Financial Partners Trading Up 0.8%

PNFP opened at $98.44 on Monday. Pinnacle Financial Partners has a 1-year low of $81.57 and a 1-year high of $127.85. The stock has a market capitalization of $7.64 billion, a PE ratio of 12.51, a PEG ratio of 0.48 and a beta of 1.02. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $95.20 and a two-hundred day moving average price of $95.81.

Pinnacle Financial Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 7th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, November 7th. Pinnacle Financial Partners’s payout ratio is 12.20%.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total value of $630,075.00. Following the transaction, the chairman directly owned 202,505 shares of the company’s stock, valued at approximately $18,832,965. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PNFP. AQR Capital Management LLC increased its holdings in Pinnacle Financial Partners by 1,697.4% in the third quarter. AQR Capital Management LLC now owns 3,267,666 shares of the financial services provider’s stock valued at $306,474,000 after purchasing an additional 3,085,867 shares during the last quarter. Nomura Holdings Inc. bought a new position in Pinnacle Financial Partners during the third quarter worth about $187,822,000. Norges Bank acquired a new position in shares of Pinnacle Financial Partners during the 2nd quarter worth about $113,461,000. Wellington Management Group LLP increased its stake in shares of Pinnacle Financial Partners by 51.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,156,749 shares of the financial services provider’s stock valued at $202,281,000 after acquiring an additional 728,975 shares during the last quarter. Finally, Pentwater Capital Management LP acquired a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at approximately $42,538,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.