Shares of Pinnacle Financial Partners Inc. (NASDAQ:PNFP) gapped up before the market opened 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.

PNFP has been the subject of a number of research analyst reports. Sandler O’Neill raised shares of Pinnacle Financial Partners to a “buy” rating and increased their target price for the stock from $33.00 to $36.50 in a research report on Monday, March 28th. Piper Jaffray Cos. raised shares of Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $51.00 to $60.00 in a research report on Tuesday. Keefe, Bruyette & Woods raised shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a research report on Monday, March 28th. Zacks Investment Research raised shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Wednesday, June 22nd. Finally, SunTrust Banks Inc. increased their target price on shares of Pinnacle Financial Partners from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $53.36.

The firm has a 50 day moving average price of $49.36 and a 200-day moving average price of $48.59. The company has a market capitalization of $2.23 billion and a price-to-earnings ratio of 20.96.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Monday, April 18th. The financial services provider reported $0.71 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.71. On average, analysts expect that Pinnacle Financial Partners Inc. will post $3.02 EPS for the current fiscal year.

In other Pinnacle Financial Partners news, Director William H. Iv Huddleston sold 2,000 shares of the firm’s stock in a transaction dated 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 directly owns 75,906 shares in the company, valued at approximately $3,811,240.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Other large investors have made changes to their positions in the company. 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. 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. 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. Nationwide Fund Advisors raised its stake in shares of 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 last quarter. Finally, 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.

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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