Pinnacle Financial Partners, Inc. (NYSE:PNFP – Get Free Report) CEO Kevin Blair purchased 2,565 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was acquired at an average cost of $97.48 per share, for a total transaction of $250,036.20. Following the completion of the acquisition, the chief executive officer owned 152,397 shares in the company, valued at $14,855,659.56. This represents a 1.71% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Pinnacle Financial Partners Price Performance
PNFP stock opened at $100.08 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. Pinnacle Financial Partners, Inc. has a 1-year low of $81.08 and a 1-year high of $110.33. The business has a 50 day simple moving average of $102.26. The company has a market cap of $7.76 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 0.39 and a beta of 1.01.
Pinnacle Financial Partners (NYSE:PNFP – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.04. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Sell-side analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.19 EPS for the current fiscal year.
Pinnacle Financial Partners Dividend Announcement
Institutional Trading of Pinnacle Financial Partners
Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in Pinnacle Financial Partners by 6.2% during the first quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock worth $69,060,000 after acquiring an additional 37,989 shares during the last quarter. Focus Partners Wealth increased its position in shares of Pinnacle Financial Partners by 13.9% during the 1st quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock valued at $504,000 after purchasing an additional 581 shares during the last quarter. Amundi raised its holdings in Pinnacle Financial Partners by 25,700.0% during the 2nd quarter. Amundi now owns 4,386 shares of the company’s stock valued at $513,000 after buying an additional 4,369 shares during the period. Jump Financial LLC bought a new stake in Pinnacle Financial Partners in the second quarter worth $229,000. Finally, Cerity Partners LLC boosted its stake in Pinnacle Financial Partners by 4.2% during the second quarter. Cerity Partners LLC now owns 26,061 shares of the company’s stock worth $2,877,000 after buying an additional 1,039 shares during the period. 87.40% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have commented on PNFP shares. Benchmark increased their price objective on shares of Pinnacle Financial Partners from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Evercore reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Pinnacle Financial Partners in a report on Monday, July 6th. DA Davidson increased their price target on Pinnacle Financial Partners from $109.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings upgraded Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Finally, Citigroup lifted their price objective on Pinnacle Financial Partners from $122.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $118.35.
Check Out 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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