Analysts Set Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Target Price at $95.50

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $95.50.

Several equities analysts recently issued reports on the stock. Hovde Group dropped their target price on shares of Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating on the stock in a report on Tuesday, April 23rd. Truist Financial cut their price objective on shares of Pinnacle Financial Partners from $99.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Stephens reaffirmed an “overweight” rating and issued a $109.00 target price on shares of Pinnacle Financial Partners in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. cut their price target on Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Finally, UBS Group reduced their price objective on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, January 18th.

Pinnacle Financial Partners Stock Performance

NASDAQ PNFP opened at $82.19 on Friday. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 11.76 and a beta of 1.09. The stock has a fifty day simple moving average of $81.76 and a 200 day simple moving average of $79.70. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. Pinnacle Financial Partners has a twelve month low of $43.31 and a twelve month high of $92.33.

Pinnacle Financial Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, May 2nd. Pinnacle Financial Partners’s payout ratio is currently 12.59%.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, CEO M Terry Turner sold 24,057 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $1,977,966.54. Following the completion of the sale, the chief executive officer now owns 294,790 shares in the company, valued at $24,237,633.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Harold R. Carpenter sold 6,306 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $518,479.32. Following the sale, the chief financial officer now directly owns 63,856 shares in the company, valued at $5,250,240.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO M Terry Turner sold 24,057 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $1,977,966.54. Following the completion of the transaction, the chief executive officer now owns 294,790 shares of the company’s stock, valued at approximately $24,237,633.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 235,093 shares of company stock worth $19,103,353. Corporate insiders own 1.87% of the company’s stock.

Hedge Funds Weigh In On Pinnacle Financial Partners

Several institutional investors have recently added to or reduced their stakes in PNFP. Rise Advisors LLC purchased a new position in Pinnacle Financial Partners in the first quarter valued at about $26,000. Emerald Advisers LLC bought a new stake in shares of Pinnacle Financial Partners during the 3rd quarter valued at $27,000. Fifth Third Bancorp increased its holdings in Pinnacle Financial Partners by 101.4% during the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 213 shares during the period. Bruce G. Allen Investments LLC purchased a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at $32,000. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Pinnacle Financial Partners by 57.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.