Pinnacle Financial Partners (NYSE:PNFP – Get Free Report) was upgraded by equities research analysts at Robert W. Baird to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.
Several other research firms have also recently weighed in on PNFP. Evercore reissued an “outperform” rating and set a $115.00 price objective on shares of Pinnacle Financial Partners in a research report on Wednesday, April 29th. TD Cowen cut their price objective on Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Wall Street Zen raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. upped their price target on Pinnacle Financial Partners from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Piper Sandler upped their price target on Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and a consensus price target of $115.18.
Check Out Our Latest Analysis on Pinnacle Financial Partners
Pinnacle Financial Partners Stock Performance
Pinnacle Financial Partners (NYSE:PNFP – Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.09. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%.The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. As a group, equities research analysts forecast that Pinnacle Financial Partners will post 10.34 EPS for the current fiscal year.
Hedge Funds Weigh In On Pinnacle Financial Partners
Several large investors have recently added to or reduced their stakes in the company. Resources Management Corp CT ADV bought a new stake in shares of Pinnacle Financial Partners in the 1st quarter valued at approximately $26,000. Brown Brothers Harriman & Co. bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at approximately $26,000. High Point Wealth Management LLC bought a new stake in shares of Pinnacle Financial Partners in the 4th quarter valued at approximately $27,000. BOKF NA grew its stake in shares of Pinnacle Financial Partners by 1,204.5% in the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares during the period. Finally, Activest Wealth Management bought a new stake in shares of Pinnacle Financial Partners in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 87.40% of the company’s stock.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.
The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.
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