Pinnacle Financial Partners (NYSE:PNFP) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Pinnacle Financial Partners (NYSE:PNFP) from a sell rating to a hold rating in a report released on Friday morning.

Several other equities research analysts have also recently weighed in on the company. Citigroup boosted their price objective on Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Pinnacle Financial Partners in a research note on Thursday, January 22nd. Evercore reissued an “outperform” rating on shares of Pinnacle Financial Partners in a research report on Thursday, February 5th. Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a report on Monday, January 5th. Finally, JPMorgan Chase & Co. lowered their price target on Pinnacle Financial Partners from $120.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and a consensus price target of $112.24.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $87.57 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $6.79 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 0.40 and a beta of 1.00. Pinnacle Financial Partners has a twelve month low of $81.08 and a twelve month high of $120.46.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 6th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is currently 24.72%.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, February 12th. The shares were purchased at an average cost of $94.52 per share, for a total transaction of $94,520.00. Following the completion of the acquisition, the chief financial officer owned 49,485 shares in the company, valued at $4,677,322.20. This represents a 2.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.46% of the company’s stock.

Institutional Trading of Pinnacle Financial Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of PNFP. Brown Brothers Harriman & Co. bought a new stake in shares of Pinnacle Financial Partners during the third quarter worth $26,000. High Point Wealth Management LLC bought a new position in shares of Pinnacle Financial Partners in the fourth quarter worth about $27,000. BOKF NA increased its stake in Pinnacle Financial Partners by 1,204.5% in the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after buying an additional 265 shares during the period. Activest Wealth Management bought a new stake in Pinnacle Financial Partners during the 4th quarter valued at about $28,000. Finally, Covestor Ltd boosted its position in Pinnacle Financial Partners by 193.9% in the 3rd quarter. Covestor Ltd now owns 338 shares of the company’s stock valued at $32,000 after buying an additional 223 shares during the period. Hedge funds and other institutional investors own 87.40% of the company’s stock.

About Pinnacle Financial Partners

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.