Pinnacle Financial Partners (NYSE:PNFP) Upgraded at UBS Group

UBS Group upgraded shares of Pinnacle Financial Partners (NYSE:PNFP) from a neutral rating to a buy rating in a research note released on Tuesday morning, MarketBeat reports. The firm currently has $110.00 target price on the stock, up from their previous target price of $106.00.

A number of other analysts have also commented on PNFP. Barclays lifted their price target on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. DA Davidson assumed coverage on shares of Pinnacle Financial Partners in a research note on Monday, January 5th. They issued a “neutral” rating and a $110.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $116.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Wednesday, January 21st. TD Cowen reiterated a “buy” rating on shares of Pinnacle Financial Partners in a research note on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Pinnacle Financial Partners from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.18.

Pinnacle Financial Partners Trading Up 2.7%

Shares of PNFP stock opened at $93.55 on Tuesday. Pinnacle Financial Partners has a 52 week low of $81.08 and a 52 week high of $120.46. The company has a market capitalization of $7.26 billion, a PE ratio of 11.56, a P/E/G ratio of 0.31 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89.

Pinnacle Financial Partners Announces Dividend

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

Insider Transactions at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average cost of $94.52 per share, for a total transaction of $94,520.00. Following the completion of the transaction, the chief financial officer owned 49,485 shares of the company’s stock, valued at $4,677,322.20. This represents a 2.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.46% of the company’s stock.

Institutional Trading of Pinnacle Financial Partners

Several large investors have recently added to or reduced their stakes in PNFP. Rockefeller Capital Management L.P. boosted its position in shares of Pinnacle Financial Partners by 53.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,099 shares of the company’s stock worth $105,000 after purchasing an additional 385 shares during the period. Corient Private Wealth LLC boosted its position in shares of Pinnacle Financial Partners by 148.6% in the fourth quarter. Corient Private Wealth LLC now owns 16,740 shares of the company’s stock worth $1,603,000 after purchasing an additional 10,007 shares during the period. Wick Capital Partners LLC bought a new position in shares of Pinnacle Financial Partners in the fourth quarter worth approximately $203,000. Instrumental Wealth LLC bought a new position in shares of Pinnacle Financial Partners in the fourth quarter worth approximately $417,000. Finally, Villanova Investment Management Co LLC boosted its position in shares of Pinnacle Financial Partners by 0.4% in the fourth quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock worth $2,720,000 after purchasing an additional 118 shares during the period. 87.40% of the stock is currently owned by institutional investors.

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.