The stock of Pinnacle Financial Partners Inc. (NASDAQ:PNFP) last traded at $68.92, up 3.55% from the previous session.
Data from the available sources indicates that Pinnacle Financial Partners Inc. (NASDAQ:PNFP) is covered by 10 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $92.00 and a low of $60.00, we find $82.00. Given the previous closing price of $66.56, this indicates a potential upside of 23.2 percent. PNFP stock price is now 4.48% away from the 50-day moving average and 5.33% away from the 200-day moving average. The market capitalization of the company currently stands at $5.11B.
In total, 1 analysts have assigned it a hold rating, and 8 have given it a buy rating. Brokers who have rated the stock have averaged $80.00 as their price target over the next twelve months.
In other news, MCCABE ROBERT A JR, CHAIRMAN sold 24,168 shares of the company’s stock on Mar 01. The stock was sold for $1,773,539 at an average price of $73.38. Upon completion of the transaction, the CHAIRMAN now directly owns 302,071 shares in the company, valued at $20.82 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 08, CHAIRMAN MCCABE ROBERT A JR sold 3 shares of the business’s stock. A total of $247 was realized by selling the stock at an average price of $82.26. This leaves the insider owning 306,249 shares of the company worth $21.11 million. Insiders disposed of 79,443 shares of company stock worth roughly $5.48 million over the past 1 year. A total of 2.21% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PNFP stock. A new stake in Pinnacle Financial Partners Inc. shares was purchased by CHANNING CAPITAL MANAGEMENT, LLC during the first quarter worth $63,112,000. WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC invested $41,160,000 in shares of PNFP during the first quarter. In the first quarter, WALLEYE CAPITAL LLC acquired a new stake in Pinnacle Financial Partners Inc. valued at approximately $20,377,000. CEREDEX VALUE ADVISORS LLC acquired a new stake in PNFP for approximately $17,540,000. MESIROW INSTITUTIONAL INVESTMENT MANAGEMENT, INC. purchased a new stake in PNFP valued at around $11,556,000 in the second quarter. In total, there are 524 active investors with 85.60% ownership of the company’s stock.
With an opening price of $67.46 on Friday morning, Pinnacle Financial Partners Inc. (NASDAQ: PNFP) set off the trading day. During the past 12 months, Pinnacle Financial Partners Inc. has had a low of $43.31 and a high of $89.00. The fifty day moving average price for PNFP is $66.26 and a two-hundred day moving average price translates $65.36 for the stock.
The latest earnings results from Pinnacle Financial Partners Inc. (NASDAQ: PNFP) was released for Jun, 2023. According to the Banks – Regional Company, earnings per share came in at $2.54, beating analysts’ expectations of $1.63 by 0.91. This compares to $1.86 EPS in the same period last year. The net profit margin was 31.80% and return on equity was 11.30% for PNFP. The company reported revenue of $575.24 million for the quarter, compared to $292.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 96.75 percent. For the current quarter, analysts expect PNFP to generate $421.62M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/25/2023. Investors who held shares on 08/04/2023 were paid a $0.22 dividend. On an annualized basis, this represents a $0.88 dividend and a 1.28% percent yield. There was an ex-dividend date of 08/03/2023 for this dividend. In terms of dividend payout ratio, PNFP is presently at 11.00%.
Pinnacle Financial Partners Inc.(PNFP) 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. Its loan products include equipment and working capital loans; commercial real estate loans comprising investment properties and business loans secured by real estate; secured and unsecured loans, such as installment and term, residential first mortgage, and home equity loans, as well as lines of credit and home equity lines of credit; and credit cards for consumers and businesses. The company also offers various securities and other financial products; investment products; brokerage and investment advisory programs; and fiduciary and investment management services, such as personal trust, investment management, estate administration, endowments, foundations, individual retirement accounts, escrow services, and custody. In addition, it provides insurance agency services primarily in the property and casualty area; merger and acquisition advisory services; and private debt, equity and mezzanine, and other middle-market advisory services. Further, the company offers treasury management, telephone and online banking, mobile banking, debit and credit cards, direct deposit and remote deposit capture, mobile deposit option, automated teller machine, and cash management services. Pinnacle Financial Partners, Inc. was incorporated in 2000 and is headquartered in Nashville, Tennessee.
