Shares of Pinnacle Financial Partners (NASDAQ:PNFP) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $61.40.
PNFP has been the subject of a number of recent analyst reports. BidaskClub raised shares of Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 17th. UBS Group raised shares of Pinnacle Financial Partners from a “sell” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Tuesday, January 8th. TheStreet downgraded shares of Pinnacle Financial Partners from a “b-” rating to a “c” rating in a research report on Thursday, November 15th. ValuEngine raised shares of Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a research report on Monday, November 26th. Finally, Wells Fargo & Co set a $62.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research report on Wednesday, January 16th.
NASDAQ:PNFP traded up $0.17 during trading hours on Friday, hitting $58.46. The stock had a trading volume of 239,861 shares, compared to its average volume of 426,313. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. Pinnacle Financial Partners has a 1-year low of $43.23 and a 1-year high of $68.85. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 0.81 and a beta of 1.40.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Friday, February 1st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.09%. The ex-dividend date was Thursday, January 31st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 13.50%.
In related news, CFO Harold R. Carpenter sold 10,075 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $57.75, for a total transaction of $581,831.25. Following the transaction, the chief financial officer now directly owns 86,423 shares in the company, valued at $4,990,928.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Ronald L. Samuel sold 1,600 shares of the firm’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $58.55, for a total value of $93,680.00. Following the transaction, the insider now owns 24,775 shares in the company, valued at $1,450,576.25. The disclosure for this sale can be found here. Insiders have sold 27,588 shares of company stock worth $1,600,847 over the last 90 days. 2.97% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PNFP. Oregon Public Employees Retirement Fund lifted its stake in Pinnacle Financial Partners by 4,510.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,351,790 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,322,467 shares during the last quarter. Norges Bank bought a new stake in Pinnacle Financial Partners in the fourth quarter valued at $19,508,000. State of New Jersey Common Pension Fund D bought a new stake in Pinnacle Financial Partners in the fourth quarter valued at $17,518,000. The Manufacturers Life Insurance Company lifted its stake in Pinnacle Financial Partners by 20.7% in the third quarter. The Manufacturers Life Insurance Company now owns 1,724,820 shares of the financial services provider’s stock valued at $103,748,000 after buying an additional 295,498 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in Pinnacle Financial Partners by 29.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 1,230,124 shares of the financial services provider’s stock valued at $56,709,000 after buying an additional 280,427 shares during the last quarter. Hedge funds and other institutional investors own 80.64% of the company’s stock.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.
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