Pinnacle Financial Partners (NASDAQ:PNFP) Given New $115.00 Price Target at JPMorgan Chase & Co.

Pinnacle Financial Partners (NASDAQ:PNFP) had its target price decreased by research analysts at JPMorgan Chase & Co. from $125.00 to $115.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 20.91% from the stock’s current price.

A number of other equities analysts have also weighed in on PNFP. UBS Group initiated coverage on shares of Pinnacle Financial Partners in a research report on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price target on the stock. Hovde Group upgraded Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating and set a $111.00 target price on the stock in a report on Wednesday. Barclays cut their price target on Pinnacle Financial Partners from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Stephens reissued an “overweight” rating and set a $142.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company cut their target price on Pinnacle Financial Partners from $125.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinnacle Financial Partners has a consensus rating of “Moderate Buy” and a consensus target price of $119.50.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ PNFP opened at $95.11 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $7.36 billion, a PE ratio of 15.90 and a beta of 0.94. Pinnacle Financial Partners has a one year low of $73.62 and a one year high of $131.91. The firm has a fifty day moving average of $105.27 and a 200 day moving average of $111.75.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Monday, April 14th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.82 by $0.08. The company had revenue of $475.37 million during the quarter, compared to analyst estimates of $478.11 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. During the same period in the previous year, the business earned $1.53 EPS. As a group, research analysts predict that Pinnacle Financial Partners will post 7.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Glenda Baskin Glover sold 3,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $101.55, for a total transaction of $304,650.00. Following the transaction, the director now owns 9,943 shares of the company’s stock, valued at approximately $1,009,711.65. This represents a 23.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David B. Ingram sold 40,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $126.50, for a total value of $5,060,000.00. Following the transaction, the director now owns 40,991 shares of the company’s stock, valued at $5,185,361.50. This trade represents a 49.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,350 shares of company stock valued at $11,421,320. Company insiders own 1.46% of the company’s stock.

Institutional Trading of Pinnacle Financial Partners

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Pinnacle Financial Partners by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 7,200,386 shares of the financial services provider’s stock worth $823,652,000 after buying an additional 87,058 shares during the period. FMR LLC increased its holdings in Pinnacle Financial Partners by 10.6% during the 4th quarter. FMR LLC now owns 3,003,310 shares of the financial services provider’s stock worth $343,549,000 after purchasing an additional 286,894 shares during the period. North Reef Capital Management LP boosted its stake in shares of Pinnacle Financial Partners by 57.1% in the 4th quarter. North Reef Capital Management LP now owns 1,940,000 shares of the financial services provider’s stock valued at $221,917,000 after buying an additional 705,000 shares during the period. Capital Research Global Investors grew its position in shares of Pinnacle Financial Partners by 57.0% during the fourth quarter. Capital Research Global Investors now owns 1,559,798 shares of the financial services provider’s stock worth $178,425,000 after buying an additional 566,061 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Pinnacle Financial Partners by 16.5% during the fourth quarter. Wellington Management Group LLP now owns 1,504,254 shares of the financial services provider’s stock worth $172,072,000 after buying an additional 213,505 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.