Pinnacle Financial Partners (PNFP) Downgraded by BidaskClub

Pinnacle Financial Partners (NASDAQ:PNFP) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts also recently commented on PNFP. Hilliard Lyons upgraded shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a report on Wednesday, August 23rd. SunTrust Banks reiterated a “buy” rating and issued a $73.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday, October 4th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $72.00 target price on shares of Pinnacle Financial Partners in a report on Thursday, October 5th. Finally, Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $73.75.

Pinnacle Financial Partners (NASDAQ:PNFP) traded down $0.10 during mid-day trading on Thursday, hitting $66.95. The company had a trading volume of 352,117 shares, compared to its average volume of 470,505. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.99 and a quick ratio of 0.98. The company has a market capitalization of $5,261.84, a P/E ratio of 19.91, a P/E/G ratio of 1.59 and a beta of 1.31. Pinnacle Financial Partners has a 12-month low of $58.40 and a 12-month high of $71.85.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $216.20 million during the quarter, compared to the consensus estimate of $217.13 million. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The firm’s quarterly revenue was up 102.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. analysts predict that Pinnacle Financial Partners will post 3.56 EPS for the current year.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $64.41, for a total value of $193,230.00. Following the completion of the transaction, the insider now directly owns 58,794 shares in the company, valued at $3,786,921.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Harold R. Carpenter sold 17,711 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $67.45, for a total transaction of $1,194,606.95. Following the transaction, the chief financial officer now owns 107,090 shares in the company, valued at approximately $7,223,220.50. The disclosure for this sale can be found here. Insiders sold 66,711 shares of company stock valued at $4,483,257 over the last quarter. 5.41% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. increased its holdings in shares of Pinnacle Financial Partners by 0.3% during the second quarter. Alps Advisors Inc. now owns 7,121 shares of the financial services provider’s stock valued at $447,000 after acquiring an additional 19 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Pinnacle Financial Partners by 5.3% during the second quarter. M&T Bank Corp now owns 3,799 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 191 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Pinnacle Financial Partners by 2.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,854 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 209 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Pinnacle Financial Partners by 3.9% during the second quarter. HighTower Advisors LLC now owns 5,820 shares of the financial services provider’s stock valued at $366,000 after acquiring an additional 220 shares in the last quarter. Finally, Advisor Group Inc. increased its holdings in shares of Pinnacle Financial Partners by 14.5% during the second quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 71.79% of the company’s stock.

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About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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