Pinnacle Financial Partners (NYSE:PNFP) Stock Rating Upgraded by Robert W. Baird

Pinnacle Financial Partners (NYSE:PNFP) was upgraded by investment analysts at Robert W. Baird to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Pinnacle Financial Partners from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Stephens increased their target price on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Raymond James Financial restated a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. Weiss Ratings started coverage on shares of Pinnacle Financial Partners in a report on Monday, March 9th. They issued a “hold (c+)” rating on the stock. Finally, Piper Sandler raised their price objective on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.18.

Pinnacle Financial Partners Stock Up 2.4%

Pinnacle Financial Partners stock opened at $96.62 on Tuesday. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.36 and a beta of 1.06. Pinnacle Financial Partners has a 52-week low of $81.08 and a 52-week high of $120.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50 day simple moving average is $91.38.

Pinnacle Financial Partners (NYSE:PNFP) last released its earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.09. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. On average, equities research analysts anticipate that Pinnacle Financial Partners will post 10.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pinnacle Financial Partners

Several hedge funds and other institutional investors have recently bought and sold shares of PNFP. Resources Management Corp CT ADV acquired a new stake in Pinnacle Financial Partners during the 1st quarter worth $26,000. Brown Brothers Harriman & Co. purchased a new position in Pinnacle Financial Partners during the 3rd quarter worth $26,000. High Point Wealth Management LLC acquired a new position in Pinnacle Financial Partners in the fourth quarter valued at $27,000. BOKF NA increased its stake 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 purchasing an additional 265 shares during the period. Finally, Activest Wealth Management acquired a new position in Pinnacle Financial Partners in the fourth quarter valued at $28,000. 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.