Pinnacle Financial Partners (NYSE:PNFP) Price Target Lowered to $115.00 at JPMorgan Chase & Co.

Pinnacle Financial Partners (NYSE:PNFP) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $120.00 to $115.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 20.96% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on PNFP. Weiss Ratings restated a “hold (c+)” rating on shares of Pinnacle Financial Partners in a report on Thursday, June 4th. Evercore reissued an “outperform” rating and set a $115.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, April 29th. Truist Financial upped their price objective on Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Stephens increased their target price on Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, Barclays reduced their target price on Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Pinnacle Financial Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.88.

Pinnacle Financial Partners Stock Performance

NYSE PNFP traded down $0.13 during trading hours on Wednesday, hitting $95.08. 335,105 shares of the company’s stock were exchanged, compared to its average volume of 1,497,218. The stock has a 50 day simple moving average of $94.98. Pinnacle Financial Partners has a 12-month low of $81.08 and a 12-month high of $120.46. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 0.37 and a beta of 1.04. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42.

Pinnacle Financial Partners (NYSE:PNFP) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.30 by $0.09. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%.The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. As a group, equities research analysts anticipate that Pinnacle Financial Partners will post 10.34 EPS for the current fiscal year.

Institutional Trading of Pinnacle Financial Partners

Several large investors have recently added to or reduced their stakes in the stock. Yousif Capital Management LLC boosted its position in shares of Pinnacle Financial Partners by 92.4% in the fourth quarter. Yousif Capital Management LLC now owns 46,456 shares of the company’s stock worth $4,519,000 after buying an additional 22,306 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Pinnacle Financial Partners by 122.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,188 shares of the company’s stock worth $1,544,000 after acquiring an additional 8,927 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in Pinnacle Financial Partners during the 3rd quarter worth approximately $1,128,000. Citigroup Inc. boosted its holdings in Pinnacle Financial Partners by 38.1% in the 3rd quarter. Citigroup Inc. now owns 92,054 shares of the company’s stock worth $8,634,000 after acquiring an additional 25,395 shares during the period. Finally, Private Management Group Inc. boosted its holdings in Pinnacle Financial Partners by 96.4% in the 3rd quarter. Private Management Group Inc. now owns 245,160 shares of the company’s stock worth $22,994,000 after acquiring an additional 120,311 shares during the period. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Company Profile

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.