Pinnacle Financial Partners (NASDAQ:PNFP – Get Free Report) had its price objective increased by equities research analysts at Barclays from $97.00 to $101.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential upside of 4.48% from the stock’s previous close.
Several other equities analysts also recently commented on the stock. Citigroup increased their price objective on shares of Pinnacle Financial Partners from $93.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. dropped their price objective on shares of Pinnacle Financial Partners from $108.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Wells Fargo & Company increased their price objective on shares of Pinnacle Financial Partners from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Hovde Group increased their price objective on shares of Pinnacle Financial Partners from $110.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Piper Sandler cut shares of Pinnacle Financial Partners from an “overweight” rating to a “neutral” rating and upped their price target for the company from $95.00 to $98.00 in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $102.10.
Read Our Latest Analysis on Pinnacle Financial Partners
Pinnacle Financial Partners Stock Up 0.2 %
Pinnacle Financial Partners (NASDAQ:PNFP – Get Free Report) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. Pinnacle Financial Partners had a net margin of 13.93% and a return on equity of 8.97%. The firm had revenue of $366.55 million during the quarter, compared to the consensus estimate of $426.40 million. On average, analysts forecast that Pinnacle Financial Partners will post 6.81 earnings per share for the current year.
Hedge Funds Weigh In On Pinnacle Financial Partners
Large investors have recently modified their holdings of the business. Rise Advisors LLC purchased a new position in Pinnacle Financial Partners during the first quarter valued at approximately $26,000. International Assets Investment Management LLC purchased a new position in Pinnacle Financial Partners during the second quarter valued at approximately $29,000. Versant Capital Management Inc grew its stake in Pinnacle Financial Partners by 44.5% during the second quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 133 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Pinnacle Financial Partners during the fourth quarter valued at approximately $44,000. Finally, Mather Group LLC. purchased a new position in Pinnacle Financial Partners during the first quarter valued at approximately $65,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.
About Pinnacle Financial Partners
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.
Read More
- Five stocks we like better than Pinnacle Financial Partners
- How to Calculate Stock Profit
- CarMax’s Impressive Rally: What Investors Should Watch Next
- How to Choose Top Rated Stocks
- MarketBeat Week in Review – 9/23 – 9/27
- 3 Warren Buffett Stocks to Buy Now
- Wake Up to This Biotech Stock That Still Has Big Potential Upside
Receive News & Ratings for Pinnacle Financial Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners and related companies with MarketBeat.com's FREE daily email newsletter.