Shares of Pinnacle Financial Partners Inc. (NASDAQ:PNFP) gapped up prior to trading on Thursday . The stock had previously closed at $52.33, but opened at $52.63. Pinnacle Financial Partners shares last traded at $53.67, with a volume of 246,968 shares trading hands.

Several analysts have recently weighed in on PNFP shares. Sandler O’Neill upgraded shares of Pinnacle Financial Partners to a “buy” rating and lifted their price objective for the company from $33.00 to $36.50 in a research note on Monday, March 28th. Piper Jaffray Cos. upgraded shares of Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $51.00 to $60.00 in a research note on Tuesday. Keefe, Bruyette & Woods upgraded shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a research note on Monday, March 28th. Finally, Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Wednesday, June 22nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $52.64.

The stock has a 50 day moving average of $49.22 and a 200-day moving average of $48.58. The stock has a market capitalization of $2.21 billion and a PE ratio of 20.80.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Monday, April 18th. The financial services provider reported $0.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.71. Equities research analysts expect that Pinnacle Financial Partners Inc. will post $3.05 earnings per share for the current year.

In other news, Director William H. Iv Huddleston sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $50.21, for a total transaction of $100,420.00. Following the completion of the sale, the director now owns 75,906 shares of the company’s stock, valued at $3,811,240.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Several hedge funds recently added to or reduced their stakes in the stock. Nationwide Fund Advisors raised its stake in Pinnacle Financial Partners by 4.8% in the fourth quarter. Nationwide Fund Advisors now owns 115,359 shares of the financial services provider’s stock worth $5,925,000 after buying an additional 5,335 shares during the period. California State Teachers Retirement System raised its stake in shares of Pinnacle Financial Partners by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 66,458 shares of the financial services provider’s stock worth $3,413,000 after buying an additional 1,035 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Pinnacle Financial Partners by 18.3% in the fourth quarter. First Trust Advisors LP now owns 84,834 shares of the financial services provider’s stock worth $4,357,000 after buying an additional 13,135 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Pinnacle Financial Partners by 4.5% in the fourth quarter. Rhumbline Advisers now owns 62,775 shares of the financial services provider’s stock worth $3,224,000 after buying an additional 2,715 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of Pinnacle Financial Partners by 4.9% in the fourth quarter. Comerica Bank now owns 36,089 shares of the financial services provider’s stock worth $1,708,000 after buying an additional 1,691 shares during the last quarter.

Pinnacle Financial Partners, Inc (Pinnacle) is a bank holding company. Pinnacle operates through its wholly owned subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville and Knoxville, Tennessee. As an urban community bank, Pinnacle provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management, offered by large regional and national banks.

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