Pinnacle Financial Partners (NYSE:PNFP) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Pinnacle Financial Partners (NYSE:PNFP) from a hold rating to a sell rating in a research note published on Saturday morning.

Other equities research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft set a $116.00 price objective on Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Truist Financial set a $100.00 target price on Pinnacle Financial Partners in a report on Friday, January 9th. Citigroup boosted their price objective on shares of Pinnacle Financial Partners from $118.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, January 26th. DA Davidson started 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 objective on the stock. Finally, TD Cowen raised shares of Pinnacle Financial Partners to a “strong-buy” rating in a research note on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $112.25.

Pinnacle Financial Partners Stock Performance

PNFP opened at $96.94 on Friday. The firm has a market capitalization of $7.52 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 0.31 and a beta of 1.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. Pinnacle Financial Partners has a 12-month low of $81.08 and a 12-month high of $120.46.

Pinnacle Financial Partners Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 6th were issued a $0.50 dividend. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is currently 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 firm’s stock in a transaction on Thursday, February 12th. The stock was bought at an average cost of $94.52 per share, with a total value of $94,520.00. Following the completion of the transaction, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at approximately $4,677,322.20. The trade was a 2.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pinnacle Financial Partners

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its holdings in Pinnacle Financial Partners by 1,697.4% during the third quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company’s stock valued at $306,474,000 after buying an additional 3,085,867 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Pinnacle Financial Partners during the 3rd quarter valued at about $187,822,000. Alyeska Investment Group L.P. acquired a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at about $159,545,000. Norges Bank bought a new position in shares of Pinnacle Financial Partners in the 4th quarter valued at approximately $116,349,000. Finally, Wellington Management Group LLP lifted its holdings in Pinnacle Financial Partners by 42.2% in the 4th quarter. Wellington Management Group LLP now owns 3,067,116 shares of the company’s stock worth $292,634,000 after purchasing an additional 910,367 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors.

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.