Pinnacle Financial Partners, Inc. (NYSE:PNFP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Pinnacle Financial Partners, Inc. (NYSE:PNFP) has been assigned an average recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $116.8889.

A number of research analysts have recently weighed in on PNFP shares. TD Cowen lowered their price target on Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Weiss Ratings raised Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Truist Financial increased their price target on shares of Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Citigroup raised their price target on shares of Pinnacle Financial Partners from $122.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Pinnacle Financial Partners in a research report on Wednesday, June 10th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PNFP. AQR Capital Management LLC increased its holdings in Pinnacle Financial Partners by 1,697.4% in the third 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 last quarter. Dimensional Fund Advisors LP grew its position in Pinnacle Financial Partners by 80.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,035,295 shares of the company’s stock worth $433,712,000 after acquiring an additional 2,244,659 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Pinnacle Financial Partners in the third quarter worth approximately $187,822,000. Alyeska Investment Group L.P. acquired a new position in shares of Pinnacle Financial Partners during the 4th quarter worth $159,545,000. Finally, Norges Bank bought a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at $116,349,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Up 0.1%

Shares of PNFP stock traded up $0.08 during trading hours on Monday, reaching $100.45. 591,479 shares of the stock traded hands, compared to its average volume of 1,264,027. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.40 and a beta of 1.04. Pinnacle Financial Partners has a 1-year low of $81.08 and a 1-year high of $119.98. The firm has a fifty day moving average of $97.33.

Pinnacle Financial Partners (NYSE:PNFP) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.09. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. Research analysts expect that Pinnacle Financial Partners will post 10.19 earnings per share for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 1st were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. Pinnacle Financial Partners’s dividend payout ratio is 27.74%.

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.