Pinnacle Financial Partners (NYSE:PNFP) Stock Rating Upgraded by Benchmark

Pinnacle Financial Partners (NYSE:PNFP) was upgraded by analysts at Benchmark to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other research firms have also commented on PNFP. JPMorgan Chase & Co. cut their price target on shares of Pinnacle Financial Partners from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Citigroup boosted their price objective on shares of Pinnacle Financial Partners from $122.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday. Stephens raised their target price on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Truist Financial lifted their target price on shares of Pinnacle Financial Partners from $114.00 to $115.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, UBS Group upped their price target on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Three investment analysts have 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, Pinnacle Financial Partners has a consensus rating of “Moderate Buy” and a consensus price target of $116.06.

Pinnacle Financial Partners Stock Up 1.5%

PNFP stock opened at $98.50 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42. The firm has a market cap of $7.64 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 0.37 and a beta of 1.04. The business’s fifty day moving average price is $96.59. Pinnacle Financial Partners has a 52 week low of $81.08 and a 52 week high of $120.46.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.30 by $0.09. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. As a group, analysts expect that Pinnacle Financial Partners will post 10.25 earnings per share for the current fiscal year.

Institutional Trading of Pinnacle Financial Partners

Institutional investors and hedge funds have recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new position in shares of Pinnacle Financial Partners in the 3rd quarter worth approximately $26,000. High Point Wealth Management LLC acquired a new stake in Pinnacle Financial Partners in the 4th quarter valued at approximately $27,000. BOKF NA grew its stake in shares of Pinnacle Financial Partners by 1,204.5% in the third quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares in the last quarter. Activest Wealth Management acquired a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at $28,000. Finally, Resources Management Corp CT ADV acquired a new position in shares of Pinnacle Financial Partners during the first quarter valued at $26,000. Institutional investors and hedge funds 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.