Sandler O’Neill Analysts Give Pinnacle Financial Partners (PNFP) a $76.00 Price Target
Sandler O’Neill set a $76.00 price objective on Pinnacle Financial Partners (NASDAQ:PNFP) in a report published on Thursday. The firm currently has a buy rating on the financial services provider’s stock.
PNFP has been the subject of several other reports. Piper Jaffray Companies set a $76.00 price objective on Pinnacle Financial Partners and gave the company a buy rating in a report on Thursday, November 30th. Zacks Investment Research raised Pinnacle Financial Partners from a hold rating to a buy rating and set a $76.00 price objective for the company in a report on Wednesday, December 20th. BidaskClub raised Pinnacle Financial Partners from a sell rating to a hold rating in a report on Wednesday, December 20th. Wells Fargo & Co began coverage on Pinnacle Financial Partners in a report on Thursday, December 21st. They issued an outperform rating and a $80.00 price objective for the company. Finally, Hilliard Lyons cut Pinnacle Financial Partners from a buy rating to a neutral rating and set a $74.00 price objective for the company. in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Pinnacle Financial Partners has an average rating of Buy and a consensus price target of $76.14.
Shares of Pinnacle Financial Partners (NASDAQ PNFP) opened at $64.00 on Thursday. The stock has a market capitalization of $4,975.36, a price-to-earnings ratio of 22.86, a P/E/G ratio of 0.98 and a beta of 1.31. Pinnacle Financial Partners has a one year low of $58.40 and a one year high of $71.55. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 0.48.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 2nd will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $0.56 annualized dividend and a yield of 0.88%. Pinnacle Financial Partners’s dividend payout ratio is presently 20.00%.
In other news, Director Thomas R. Sloan sold 15,000 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $65.97, for a total transaction of $989,550.00. Following the completion of the transaction, the director now owns 108,257 shares of the company’s stock, valued at approximately $7,141,714.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO M Terry Turner sold 31,171 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $67.11, for a total value of $2,091,885.81. Following the transaction, the chief executive officer now directly owns 489,701 shares of the company’s stock, valued at approximately $32,863,834.11. The disclosure for this sale can be found here. Insiders sold a total of 55,171 shares of company stock valued at $3,682,756 over the last ninety days. Insiders own 5.41% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in shares of Pinnacle Financial Partners by 7.8% during the 2nd quarter. Wells Fargo & Company MN now owns 307,772 shares of the financial services provider’s stock worth $19,329,000 after buying an additional 22,181 shares in the last quarter. Suntrust Banks Inc. acquired a new position in shares of Pinnacle Financial Partners during the 2nd quarter worth $556,000. ETRADE Capital Management LLC raised its holdings in shares of Pinnacle Financial Partners by 49.9% during the 3rd quarter. ETRADE Capital Management LLC now owns 23,048 shares of the financial services provider’s stock worth $1,543,000 after buying an additional 7,668 shares in the last quarter. Maple Capital Management Inc. acquired a new position in shares of Pinnacle Financial Partners during the 3rd quarter worth $624,000. Finally, Pacer Advisors Inc. acquired a new position in shares of Pinnacle Financial Partners during the 3rd quarter worth $829,000. 71.77% of the stock is owned by institutional investors.
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Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.
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