Pinnacle Financial Partners (NASDAQ:PNFP – Get Free Report) had its target price upped by Hovde Group from $110.00 to $114.00 in a report issued on Friday, Briefing.com reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s target price indicates a potential upside of 18.17% from the company’s previous close.
PNFP has been the subject of a number of other research reports. JPMorgan Chase & Co. cut 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. Barclays lifted their price objective on Pinnacle Financial Partners from $93.00 to $97.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Wells Fargo & Company increased their target price on Pinnacle Financial Partners from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Piper Sandler cut Pinnacle Financial Partners from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $95.00 to $98.00 in a research note on Thursday, July 18th. Finally, Truist Financial increased their price objective on Pinnacle Financial Partners from $101.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Pinnacle Financial Partners has a consensus rating of “Hold” and an average price target of $101.70.
View Our Latest Report on Pinnacle Financial Partners
Pinnacle Financial Partners Trading Up 1.0 %
Pinnacle Financial Partners (NASDAQ:PNFP – Get Free Report) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. The company had revenue of $366.55 million for the quarter, compared to analysts’ expectations of $426.40 million. Pinnacle Financial Partners had a return on equity of 8.97% and a net margin of 13.93%. Research analysts forecast that Pinnacle Financial Partners will post 6.81 EPS for the current fiscal year.
Institutional Trading of Pinnacle Financial Partners
Several large investors have recently added to or reduced their stakes in PNFP. Rise Advisors LLC bought a new stake in Pinnacle Financial Partners during the 1st quarter valued at approximately $26,000. International Assets Investment Management LLC bought a new stake in shares of 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% in the second quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 133 shares during the period. ICA Group Wealth Management LLC bought a new position in Pinnacle Financial Partners in the fourth quarter worth $44,000. Finally, Mather Group LLC. purchased a new position in Pinnacle Financial Partners during the first quarter valued at $65,000. Institutional investors 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.
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