Pinnacle Financial Partners (NASDAQ: PNFP) has recently received a number of price target changes and ratings updates:
- 4/25/2024 – Pinnacle Financial Partners had its price target lowered by analysts at Truist Financial Co. from $99.00 to $94.00. They now have a “buy” rating on the stock.
- 4/24/2024 – Pinnacle Financial Partners had its price target lowered by analysts at JPMorgan Chase & Co. from $110.00 to $108.00. They now have an “overweight” rating on the stock.
- 4/23/2024 – Pinnacle Financial Partners had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $109.00 price target on the stock.
- 4/23/2024 – Pinnacle Financial Partners had its price target lowered by analysts at Hovde Group from $104.00 to $99.00. They now have an “outperform” rating on the stock.
- 4/8/2024 – Pinnacle Financial Partners had its price target lowered by analysts at Jefferies Financial Group Inc. from $88.00 to $85.00. They now have a “hold” rating on the stock.
- 4/1/2024 – Pinnacle Financial Partners had its price target raised by analysts at Truist Financial Co. from $93.00 to $99.00. They now have a “buy” rating on the stock.
- 3/8/2024 – Pinnacle Financial Partners is now covered by analysts at Barclays PLC. They set an “equal weight” rating and a $93.00 price target on the stock.
Pinnacle Financial Partners Trading Down 1.5 %
Shares of PNFP traded down $1.24 during mid-day trading on Friday, hitting $80.29. 448,317 shares of the company’s stock traded hands, compared to its average volume of 467,517. The firm has a market capitalization of $6.19 billion, a P/E ratio of 11.49 and a beta of 1.08. The business’s 50-day moving average price is $82.28 and its 200-day moving average price is $79.19. Pinnacle Financial Partners, Inc. has a 1 year low of $43.31 and a 1 year high of $92.33. 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 Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.88 annualized dividend and a yield of 1.10%. Pinnacle Financial Partners’s payout ratio is 12.59%.
Insider Buying and Selling
Institutional Trading of Pinnacle Financial Partners
Several institutional investors have recently made changes to their positions in the business. Caprock Group LLC grew its position in shares of Pinnacle Financial Partners by 2.2% during the fourth quarter. Caprock Group LLC now owns 5,604 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 122 shares in the last quarter. NBC Securities Inc. grew its holdings in Pinnacle Financial Partners by 1.3% during the 4th quarter. NBC Securities Inc. now owns 9,419 shares of the financial services provider’s stock valued at $821,000 after buying an additional 124 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in Pinnacle Financial Partners by 2.9% during the 1st quarter. Verdence Capital Advisors LLC now owns 4,497 shares of the financial services provider’s stock valued at $386,000 after buying an additional 126 shares in the last quarter. Covenant Partners LLC grew its holdings in Pinnacle Financial Partners by 1.4% during the 4th quarter. Covenant Partners LLC now owns 10,699 shares of the financial services provider’s stock valued at $933,000 after buying an additional 149 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in Pinnacle Financial Partners by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 33,040 shares of the financial services provider’s stock valued at $2,215,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.
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.
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