Pinnacle Financial Partners (NASDAQ:PNFP) Stock Rating Upgraded by DA Davidson

Pinnacle Financial Partners (NASDAQ:PNFP) was upgraded by stock analysts at DA Davidson to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of Pinnacle Financial Partners in a research report on Monday, December 29th. Cowen assumed coverage on Pinnacle Financial Partners in a report on Wednesday, September 24th. They set a “buy” rating on the stock. Truist Financial lowered their price target on Pinnacle Financial Partners from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, October 17th. JPMorgan Chase & Co. boosted their price objective on shares of Pinnacle Financial Partners from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Finally, Piper Sandler raised shares of Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and increased their target price for the company from $117.00 to $120.00 in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Pinnacle Financial Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.87.

Pinnacle Financial Partners Price Performance

Pinnacle Financial Partners stock opened at $97.28 on Monday. Pinnacle Financial Partners has a 52-week low of $81.57 and a 52-week high of $127.85. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. The firm’s fifty day moving average is $93.17 and its 200 day moving average is $96.63. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 0.48 and a beta of 1.02.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.22. The firm had revenue of $544.80 million for the quarter, compared to the consensus estimate of $526.40 million. Pinnacle Financial Partners had a net margin of 19.17% and a return on equity of 9.91%. During the same period in the previous year, the firm posted $1.86 EPS. Sell-side analysts forecast that Pinnacle Financial Partners will post 7.85 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total value of $630,075.00. Following the transaction, the chairman owned 202,505 shares of the company’s stock, valued at $18,832,965. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director G Kennedy Thompson bought 5,000 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were purchased at an average cost of $87.63 per share, with a total value of $438,150.00. Following the completion of the transaction, the director owned 33,372 shares in the company, valued at $2,924,388.36. This represents a 17.62% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.46% of the stock is owned by insiders.

Institutional Trading of Pinnacle Financial Partners

Several institutional investors and hedge funds have recently made changes to their positions in PNFP. Brown Brothers Harriman & Co. purchased a new position in Pinnacle Financial Partners during the 3rd quarter valued at about $26,000. BOKF NA boosted its stake in shares of Pinnacle Financial Partners by 1,204.5% during the third quarter. BOKF NA now owns 287 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 265 shares in the last quarter. 1248 Management LLC purchased a new position in Pinnacle Financial Partners during the first quarter valued at approximately $29,000. Covestor Ltd raised its stake in Pinnacle Financial Partners by 193.9% in the third quarter. Covestor Ltd now owns 338 shares of the financial services provider’s stock worth $32,000 after buying an additional 223 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in Pinnacle Financial Partners during the third quarter worth $34,000. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.