Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) have been assigned an average rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $73.25.

Several equities analysts have weighed in on PNFP shares. Zacks Investment Research cut Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a research note on Wednesday, October 11th. Piper Jaffray Companies restated a “buy” rating and set a $74.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday, October 19th. Hilliard Lyons cut Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 price objective on the stock. in a research note on Friday, October 20th. SunTrust Banks, Inc. restated a “buy” rating and set a $73.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, October 4th. Finally, Stephens restated a “hold” rating and set a $71.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday, July 20th.

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Shares of Pinnacle Financial Partners (PNFP) traded down 1.86% during mid-day trading on Wednesday, hitting $66.00. 452,255 shares of the stock were exchanged. The stock’s 50 day moving average price is $65.47 and its 200-day moving average price is $63.69. The stock has a market capitalization of $5.13 billion, a P/E ratio of 20.30 and a beta of 1.31. Pinnacle Financial Partners has a 12-month low of $49.40 and a 12-month high of $71.85.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued 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. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The business had revenue of $216.20 million for the quarter, compared to analysts’ expectations of $217.13 million. During the same period last year, the business earned $0.78 EPS. The business’s revenue was up 102.8% on a year-over-year basis. On average, equities research analysts expect that Pinnacle Financial Partners will post $3.41 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 3rd will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, November 2nd. Pinnacle Financial Partners’s payout ratio is 17.34%.

In other news, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $67.28, for a total transaction of $201,840.00. Following the sale, the insider now directly owns 55,794 shares in the company, valued at approximately $3,753,820.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas R. Sloan sold 10,000 shares of Pinnacle Financial Partners stock in a transaction on Friday, October 20th. The stock was sold at an average price of $67.25, for a total value of $672,500.00. Following the sale, the director now owns 128,257 shares in the company, valued at $8,625,283.25. The disclosure for this sale can be found here. Insiders have sold a total of 66,711 shares of company stock worth $4,466,727 over the last quarter. Company insiders own 5.41% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its stake in shares of Pinnacle Financial Partners by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,121 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 19 shares during the period. M&T Bank Corp raised its stake in shares of Pinnacle Financial Partners by 5.3% during the 2nd quarter. M&T Bank Corp now owns 3,799 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 191 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Pinnacle Financial Partners by 2.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,854 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 209 shares during the period. HighTower Advisors LLC raised its stake in shares of Pinnacle Financial Partners by 3.9% during the 2nd quarter. HighTower Advisors LLC now owns 5,820 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 220 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of Pinnacle Financial Partners by 7.8% during the 1st quarter. Teacher Retirement System of Texas now owns 3,751 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 272 shares during the period. Institutional investors own 69.92% of the company’s stock.

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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