Pinnacle Financial Partners (NYSE:PNFP) Stock Rating Upgraded by Wall Street Zen

Pinnacle Financial Partners (NYSE:PNFP) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Friday.

A number of other analysts have also recently issued reports on the company. Weiss Ratings assumed coverage on Pinnacle Financial Partners in a research report on Monday, March 9th. They set a “hold (c+)” rating for the company. Deutsche Bank Aktiengesellschaft set a $116.00 target price on Pinnacle Financial Partners and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Citigroup raised their price target on Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Raymond James Financial reiterated a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on Pinnacle Financial Partners from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.24.

Pinnacle Financial Partners Trading Up 0.1%

PNFP stock opened at $87.57 on Friday. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 0.40 and a beta of 1.00. Pinnacle Financial Partners has a 12-month low of $81.08 and a 12-month high of $120.46. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89.

Insider Activity at Pinnacle Financial Partners

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

Hedge Funds Weigh In On Pinnacle Financial Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its holdings in shares of Pinnacle Financial Partners by 1,697.4% during the 3rd quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company’s stock worth $306,474,000 after buying an additional 3,085,867 shares during the period. Nomura Holdings Inc. bought a new position in Pinnacle Financial Partners in the 3rd quarter worth $187,822,000. Alyeska Investment Group L.P. acquired a new position in Pinnacle Financial Partners during the 4th quarter worth $159,545,000. Norges Bank acquired a new position in Pinnacle Financial Partners during the 4th quarter worth $116,349,000. Finally, Wellington Management Group LLP boosted its holdings in Pinnacle Financial Partners by 42.2% during the fourth quarter. Wellington Management Group LLP now owns 3,067,116 shares of the company’s stock valued at $292,634,000 after acquiring an additional 910,367 shares during the period. 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.