Pinnacle Financial Partners, Inc. (NYSE:PNFP – Get Free Report) insider Robert Mccabe, Jr. bought 10,013 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was acquired at an average price of $99.90 per share, for a total transaction of $1,000,298.70. Following the purchase, the insider directly owned 324,233 shares in the company, valued at approximately $32,390,876.70. The trade was a 3.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
Pinnacle Financial Partners Stock Up 0.1%
PNFP stock opened at $104.85 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 0.42 and a beta of 1.04. The firm has a 50 day simple moving average of $98.60. Pinnacle Financial Partners, Inc. has a 12-month low of $81.08 and a 12-month high of $107.00.
Pinnacle Financial Partners (NYSE:PNFP – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%.The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. On average, research analysts expect that Pinnacle Financial Partners, Inc. will post 10.18 earnings per share for the current year.
Pinnacle Financial Partners Announces Dividend
Analysts Set New Price Targets
Several equities analysts recently weighed in on PNFP shares. JPMorgan Chase & Co. reduced their price target on shares of Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, July 24th. Barclays lowered their price objective on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. DA Davidson increased their target price on shares of Pinnacle Financial Partners from $109.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Citigroup raised their price target on shares of Pinnacle Financial Partners from $122.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Stephens set a $112.00 price target on shares of Pinnacle Financial Partners in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.00.
Get Our Latest Stock Analysis on Pinnacle Financial Partners
Institutional Trading of Pinnacle Financial Partners
A number of hedge funds and other institutional investors have recently made changes to their positions in PNFP. Brown Brothers Harriman & Co. bought a new stake in shares of Pinnacle Financial Partners during the third quarter valued at about $26,000. High Point Wealth Management LLC bought a new position in shares of Pinnacle Financial Partners in the 4th quarter worth $27,000. BOKF NA raised its position in Pinnacle Financial Partners by 1,204.5% during the third quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares in the last quarter. Activest Wealth Management purchased a new position in shares of Pinnacle Financial Partners in the 4th quarter worth about $28,000. Finally, Resources Management Corp CT ADV bought a new position in shares of Pinnacle Financial Partners during the 1st quarter valued at about $26,000. 87.40% of the stock is currently owned by institutional investors.
About Pinnacle Financial Partners
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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