Analysts Set Pinnacle Financial Partners, Inc. (NYSE:PNFP) Target Price at $113.41

Pinnacle Financial Partners, Inc. (NYSE:PNFP) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $112.2353.

A number of brokerages have recently weighed in on PNFP. Raymond James Financial reissued a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. UBS Group set a $106.00 target price on Pinnacle Financial Partners in a report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft set a $116.00 target price on Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Wednesday, January 21st. DA Davidson initiated coverage on shares of Pinnacle Financial Partners in a research report on Monday, January 5th. They set a “neutral” rating and a $110.00 price target for the company. Finally, Royal Bank Of Canada raised shares of Pinnacle Financial Partners to a “moderate buy” rating in a report on Monday, January 5th.

Pinnacle Financial Partners Stock Performance

Shares of PNFP stock opened at $87.63 on Friday. The firm has a market capitalization of $6.80 billion, a P/E ratio of 10.83, a PEG ratio of 0.39 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 1 year low of $81.08 and a 1 year high of $120.46.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 6th were given a dividend of $0.50 per share. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s payout ratio is currently 24.72%.

Insider Buying and Selling

In related news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were bought at an average cost of $94.52 per share, with a total value of $94,520.00. Following the transaction, the chief financial officer owned 49,485 shares of the company’s stock, valued at approximately $4,677,322.20. This trade represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On Pinnacle Financial Partners

Several institutional investors and hedge funds have recently modified their holdings of PNFP. Brown Brothers Harriman & Co. purchased a new stake in shares of Pinnacle Financial Partners in the third quarter worth about $26,000. High Point Wealth Management LLC purchased a new position in Pinnacle Financial Partners during the fourth quarter valued at approximately $27,000. BOKF NA lifted its holdings in Pinnacle Financial Partners by 1,204.5% in the third quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after acquiring an additional 265 shares during the period. Activest Wealth Management acquired a new position in Pinnacle Financial Partners in the fourth quarter valued at approximately $28,000. Finally, Covestor Ltd boosted its position in Pinnacle Financial Partners by 193.9% in the 3rd quarter. Covestor Ltd now owns 338 shares of the company’s stock worth $32,000 after purchasing an additional 223 shares in the last quarter. 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.