Pinnacle Financial Partners (NYSE:PNFP) Upgraded to Strong-Buy at Robert W. Baird

Pinnacle Financial Partners (NYSE:PNFP) was upgraded by equities research analysts at Robert W. Baird to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

PNFP has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft set a $116.00 price objective on Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. lifted their price objective on Pinnacle Financial Partners from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Raymond James Financial reissued a “strong-buy” rating on shares of Pinnacle Financial Partners in a research report on Thursday, January 22nd. Weiss Ratings assumed coverage on Pinnacle Financial Partners in a research report on Monday, March 9th. They set a “hold (c+)” rating for the company. Finally, Piper Sandler lifted their price objective on Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.18.

Pinnacle Financial Partners Trading Up 2.4%

Shares of PNFP stock opened at $96.62 on Tuesday. Pinnacle Financial Partners has a 1-year low of $81.08 and a 1-year high of $120.46. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $7.49 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 0.36 and a beta of 1.06. The company’s fifty day simple moving average is $91.38.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.09. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. On average, sell-side analysts predict that Pinnacle Financial Partners will post 10.34 EPS for the current year.

Institutional Trading of Pinnacle Financial Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Pinnacle Financial Partners by 1.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company’s stock worth $704,000 after buying an additional 116 shares during the last quarter. Villanova Investment Management Co LLC lifted its stake in shares of Pinnacle Financial Partners by 0.4% in the fourth quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock worth $2,720,000 after buying an additional 118 shares during the last quarter. Profund Advisors LLC lifted its stake in shares of Pinnacle Financial Partners by 4.6% in the third quarter. Profund Advisors LLC now owns 2,895 shares of the company’s stock worth $272,000 after buying an additional 127 shares during the last quarter. Simplicity Wealth LLC lifted its position in shares of Pinnacle Financial Partners by 1.5% during the 1st quarter. Simplicity Wealth LLC now owns 9,155 shares of the company’s stock worth $789,000 after purchasing an additional 131 shares during the last quarter. Finally, Diversified Trust Co. lifted its position in shares of Pinnacle Financial Partners by 0.3% during the 4th quarter. Diversified Trust Co. now owns 54,349 shares of the company’s stock worth $5,185,000 after purchasing an additional 137 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.

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.