Pinnacle Financial Partners (NYSE:PNFP) Given New $112.00 Price Target at DA Davidson

Pinnacle Financial Partners (NYSE:PNFPFree Report) had its target price upped by DA Davidson from $109.00 to $112.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts also recently weighed in on PNFP. Piper Sandler increased their target price on shares of Pinnacle Financial Partners from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Friday. Truist Financial boosted their target price on shares of Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Barclays dropped their price target on Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. UBS Group increased their price objective on Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Weiss Ratings upgraded Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.76.

View Our Latest Stock Report on PNFP

Pinnacle Financial Partners Trading Down 0.1%

Shares of NYSE PNFP opened at $102.53 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market capitalization of $7.95 billion, a PE ratio of 14.08, a P/E/G ratio of 0.41 and a beta of 1.04. The company has a fifty day moving average of $97.90. Pinnacle Financial Partners has a 12-month low of $81.08 and a 12-month high of $107.00.

Pinnacle Financial Partners (NYSE:PNFPGet Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. On average, equities analysts forecast that Pinnacle Financial Partners will post 10.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Yousif Capital Management LLC grew its stake in shares of Pinnacle Financial Partners by 92.4% in the 4th quarter. Yousif Capital Management LLC now owns 46,456 shares of the company’s stock worth $4,519,000 after purchasing an additional 22,306 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Pinnacle Financial Partners by 122.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,188 shares of the company’s stock worth $1,544,000 after acquiring an additional 8,927 shares during the last quarter. M&T Bank Corp boosted its position in shares of Pinnacle Financial Partners by 283.3% in the 4th quarter. M&T Bank Corp now owns 27,583 shares of the company’s stock valued at $2,632,000 after purchasing an additional 20,386 shares during the period. Impax Asset Management Group plc raised its holdings in Pinnacle Financial Partners by 21.0% during the 4th quarter. Impax Asset Management Group plc now owns 421,413 shares of the company’s stock worth $41,298,000 after buying an additional 73,176 shares during the period. Finally, Anchor Investment Management LLC purchased a new position in shares of Pinnacle Financial Partners in the first quarter worth approximately $1,156,000. Institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Company Profile

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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.

Further Reading

Analyst Recommendations for Pinnacle Financial Partners (NYSE:PNFP)

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