Pinnacle Financial Partners (NASDAQ:PNFP) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $58.17 and last traded at $58.01, with a volume of 20826 shares. The stock had previously closed at $59.08.
Several research firms recently issued reports on PNFP. ValuEngine raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st. BidaskClub raised shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 18th. Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Finally, Hovde Group reaffirmed an “outperform” rating on shares of Pinnacle Financial Partners in a research note on Thursday, July 5th. Three research analysts have rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $72.00.
The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 0.91 and a beta of 1.02. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.54.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, July 17th. The financial services provider reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.01. The company had revenue of $230.20 million during the quarter, compared to the consensus estimate of $229.16 million. Pinnacle Financial Partners had a net margin of 25.54% and a return on equity of 8.59%. The company’s revenue was up 62.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 EPS. On average, sell-side analysts anticipate that Pinnacle Financial Partners will post 4.71 earnings per share for the current year.
In other news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the business’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $63.49, for a total value of $101,584.00. Following the completion of the sale, the insider now owns 27,975 shares of the company’s stock, valued at approximately $1,776,132.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 4,800 shares of company stock valued at $304,960 in the last three months. Insiders own 3.39% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Highlander Capital Management LLC bought a new stake in shares of Pinnacle Financial Partners in the 1st quarter worth about $124,000. Qube Research & Technologies Ltd bought a new stake in shares of Pinnacle Financial Partners during the 2nd quarter valued at about $133,000. Paloma Partners Management Co bought a new stake in shares of Pinnacle Financial Partners during the 2nd quarter valued at about $209,000. Brown Advisory Inc. bought a new stake in shares of Pinnacle Financial Partners during the 1st quarter valued at about $345,000. Finally, Quantitative Systematic Strategies LLC grew its position in shares of Pinnacle Financial Partners by 25.2% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 5,716 shares of the financial services provider’s stock valued at $351,000 after buying an additional 1,150 shares during the last quarter. 77.77% of the stock is owned by institutional investors.
About Pinnacle Financial Partners (NASDAQ:PNFP)
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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