Brokerages Set Pinnacle Financial Partners, Inc. (NYSE:PNFP) Target Price at $113.41

Shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) have been assigned a consensus rating of “Moderate Buy” from the nineteen research firms that are currently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $113.4118.

PNFP has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. TD Cowen reissued a “buy” rating on shares of Pinnacle Financial Partners in a report on Wednesday, January 7th. Royal Bank Of Canada upgraded shares of Pinnacle Financial Partners to a “moderate buy” rating in a research report on Monday, January 5th. Keefe, Bruyette & Woods raised their target price on shares of Pinnacle Financial Partners from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, January 9th. Finally, Barclays lifted their target price on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th.

Insider Activity

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

Institutional Trading of Pinnacle Financial Partners

Several large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in Pinnacle Financial Partners by 6.2% during the first quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock valued at $69,060,000 after purchasing an additional 37,989 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Pinnacle Financial Partners by 13.9% in the first quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock worth $504,000 after buying an additional 581 shares during the period. Cetera Investment Advisers lifted its position in shares of Pinnacle Financial Partners by 3.3% during the 2nd quarter. Cetera Investment Advisers now owns 17,271 shares of the company’s stock valued at $1,907,000 after buying an additional 546 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Pinnacle Financial Partners by 0.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 652,562 shares of the company’s stock valued at $72,049,000 after acquiring an additional 3,441 shares during the period. Finally, MAI Capital Management grew its stake in shares of Pinnacle Financial Partners by 79.4% during the 2nd quarter. MAI Capital Management now owns 366 shares of the company’s stock valued at $40,000 after acquiring an additional 162 shares during the period. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Trading Up 0.9%

NYSE PNFP opened at $83.70 on Friday. Pinnacle Financial Partners has a one year low of $81.08 and a one year high of $120.46. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $6.49 billion, a P/E ratio of 10.35, a price-to-earnings-growth ratio of 0.38 and a beta of 1.02.

Pinnacle Financial Partners Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 24.72%.

Pinnacle Financial Partners Company Profile

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.