Pinnacle Financial Partners, Inc. (NYSE:PNFP – Get Free Report) insider M Terry Turner sold 2,737 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $108.01, for a total value of $295,623.37. Following the completion of the sale, the insider owned 422,614 shares of the company’s stock, valued at $45,646,538.14. The trade was a 0.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Pinnacle Financial Partners Stock Performance
NYSE:PNFP traded down $0.12 during trading hours on Monday, hitting $104.56. 805,477 shares of the company’s stock traded hands, compared to its average volume of 1,466,685. The stock has a fifty day moving average price of $99.69. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 0.42 and a beta of 1.03. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 0.94. Pinnacle Financial Partners, Inc. has a twelve month low of $81.08 and a twelve month high of $110.33.
Pinnacle Financial Partners (NYSE:PNFP – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%. On average, equities research analysts predict that Pinnacle Financial Partners, Inc. will post 10.19 earnings per share for the current year.
Pinnacle Financial Partners Dividend Announcement
Institutional Investors Weigh In On Pinnacle Financial Partners
Several institutional investors and hedge funds have recently modified their holdings of PNFP. Great Lakes Advisors LLC bought a new stake in Pinnacle Financial Partners in the second quarter worth $228,000. Danske Bank A S bought a new stake in shares of Pinnacle Financial Partners during the 2nd quarter worth about $4,348,000. Oxbow Advisors LLC bought a new stake in shares of Pinnacle Financial Partners during the 2nd quarter worth about $1,193,000. Rayburn West Financial Services LLC acquired a new position in shares of Pinnacle Financial Partners during the 2nd quarter valued at about $893,000. Finally, Meeder Advisory Services Inc. bought a new position in shares of Pinnacle Financial Partners in the 2nd quarter valued at approximately $620,000. Institutional investors and hedge funds own 87.40% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on PNFP shares. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Evercore reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Pinnacle Financial Partners in a research note on Monday, July 6th. Robert W. Baird began coverage on Pinnacle Financial Partners in a report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price objective for the company. Truist Financial lifted their price objective on Pinnacle Financial Partners from $115.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, UBS Group boosted their target price 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. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Pinnacle Financial Partners currently has a consensus rating of “Moderate Buy” and an average target price of $118.35.
View Our Latest Report on PNFP
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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