Pinnacle Financial Partners (NYSE:PNFP) Price Target Lowered to $125.00 at Benchmark

Pinnacle Financial Partners (NYSE:PNFP) had its price objective reduced by equities research analysts at Benchmark from $132.00 to $125.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 25.47% from the stock’s previous close.

PNFP has been the topic of a number of other research reports. UBS Group boosted their price objective on Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Robert W. Baird began coverage on Pinnacle Financial Partners in a research note on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 target price for the company. Barclays reduced their price target on Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Evercore restated an “outperform” rating and issued a $120.00 price target on shares of Pinnacle Financial Partners in a report on Monday, July 6th. Finally, Truist Financial increased their price objective on shares of Pinnacle Financial Partners from $114.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.50.

Pinnacle Financial Partners Price Performance

Shares of Pinnacle Financial Partners stock opened at $99.63 on Friday. Pinnacle Financial Partners has a 1 year low of $81.08 and a 1 year high of $107.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s 50 day moving average is $97.73. The firm has a market cap of $7.73 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.39 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP) last posted 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. Pinnacle Financial Partners had a return on equity of 12.42% and a net margin of 15.40%.The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. As a group, research analysts expect that Pinnacle Financial Partners will post 10.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Pinnacle Financial Partners

Several large investors have recently added to or reduced their stakes in PNFP. Brown Brothers Harriman & Co. bought a new stake in Pinnacle Financial Partners during the third quarter valued at $26,000. High Point Wealth Management LLC bought a new position in shares of Pinnacle Financial Partners in the 4th quarter worth about $27,000. BOKF NA lifted its position in shares of Pinnacle Financial Partners by 1,204.5% in the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after buying an additional 265 shares during the last quarter. Activest Wealth Management acquired a new position in shares of Pinnacle Financial Partners in the 4th quarter valued at about $28,000. Finally, Resources Management Corp CT ADV acquired a new position in shares of Pinnacle Financial Partners in the 1st quarter valued at about $26,000. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Company Profile

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.