The stock of Pinnacle Financial Partners (NASDAQ:PNFP) reached all time high today, Nov, 22 and still has $68.09 target or 5.00% above today’s $64.85 share price. This indicates more upside for the $3.06 billion company. This technical setup was reported by Barchart.com. If the $68.09 PT is reached, the company will be worth $153.00M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 162,461 shares traded hands. Pinnacle Financial Partners (NASDAQ:PNFP) has risen 23.53% since April 20, 2016 and is uptrending. It has outperformed by 18.97% the S&P500.
Pinnacle Financial Partners (NASDAQ:PNFP) Ratings Coverage
Out of 11 analysts covering Pinnacle Financial Partners (NASDAQ:PNFP), 3 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 27% are positive. Pinnacle Financial Partners has been the topic of 15 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Wood upgraded Pinnacle Financial Partners (NASDAQ:PNFP) rating on Friday, September 11. Wood has “Outperform” rating and $54 price target. The firm has “Outperform” rating by Keefe Bruyette & Woods given on Friday, September 11. The firm has “Sector Perform” rating by Portales Partners given on Wednesday, July 22. The firm has “Neutral” rating by Piper Jaffray given on Monday, August 24. The rating was downgraded by Keefe Bruyette & Woods to “Mkt Perform” on Thursday, October 20. The firm has “Mkt Perform” rating by Bruyette & Woods” given on Thursday, July 23. Hilliard Lyons downgraded the shares of PNFP in a report on Thursday, October 20 to “Neutral” rating. The firm has “Overweight” rating given on Friday, January 29 by Stephens. FIG Partners downgraded the stock to “Market Perform” rating in Monday, July 27 report. Sandler O’Neill downgraded the stock to “Hold” rating in Tuesday, September 13 report.
According to Zacks Investment Research, “Pinnacle Financial Partners, Inc. is a bank holding company which owns 100% of the capital stock of Pinnacle National Bank, a national bank operating in the Nashville, Tennessee metropolitan area.”
Insitutional Activity: The institutional sentiment increased to 1.87 in 2016 Q2. Its up 0.24, from 1.63 in 2016Q1. The ratio increased, as 14 funds sold all Pinnacle Financial Partners shares owned while 43 reduced positions. 16 funds bought stakes while 77 increased positions. They now own 29.14 million shares or 0.44% less from 29.27 million shares in 2016Q1.
Ranger Investment L P last reported 772,465 shares in the company. Swiss Natl Bank last reported 71,000 shares in the company. Woodmont Invest Counsel Lc holds 0.3% or 20,400 shares in its portfolio. Glenmede Tru Communication Na last reported 2,938 shares in the company. Blackrock holds 0% or 9,968 shares in its portfolio. Guggenheim Capital Ltd Liability Corporation, a Illinois-based fund reported 57,783 shares. Mutual Of America Cap Limited Com accumulated 0.06% or 61,669 shares. Sector Pension Investment Board reported 27,719 shares or 0.01% of all its holdings. The Florida-based Raymond James Fincl Advsrs Inc has invested 0.04% in Pinnacle Financial Partners (NASDAQ:PNFP). First Advisors Ltd Partnership has 53,566 shares for 0.01% of their US portfolio. The Massachusetts-based Panagora Asset Mngmt Inc has invested 0% in Pinnacle Financial Partners (NASDAQ:PNFP). Huntington Bank accumulated 0% or 3,918 shares. State Board Of Administration Of Florida Retirement System holds 0% of its portfolio in Pinnacle Financial Partners (NASDAQ:PNFP) for 22,506 shares. California State Teachers Retirement System has invested 0.01% of its portfolio in Pinnacle Financial Partners (NASDAQ:PNFP). Moreover, Parametric Port Associates Llc has 0% invested in Pinnacle Financial Partners (NASDAQ:PNFP) for 44,397 shares.
Insider Transactions: Since June 7, 2016, the stock had 0 insider buys, and 5 sales for $1.95 million net activity. $100,420 worth of shares were sold by HUDDLESTON WILLIAM H IV on Tuesday, June 7. 1,808 shares were sold by LOUGHRY ED C JR, worth $92,190 on Tuesday, November 1. 5,889 shares were sold by CARPENTER HAROLD R, worth $359,523. Shares for $460,865 were sold by QUEENER HUGH M on Monday, November 14. 16,444 shares were sold by MCCABE ROBERT A JR, worth $936,075.
More recent Pinnacle Financial Partners (NASDAQ:PNFP) news were published by: Nasdaq.com which released: “Pinnacle Financial Partners Reaches Analyst Target Price” on November 14, 2016. Also Bizjournals.com published the news titled: “Best Places to Work finalist: Pinnacle Financial Partners” on October 25, 2016. Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: Capitol Federal Financial, Pinnacle Financial Partners …” with publication date: October 31, 2016 was also an interesting one.
PNFP Company Profile
Pinnacle Financial Partners, Inc. (Pinnacle), incorporated on February 28, 2000, is a bank holding company. Pinnacle operates through its subsidiary, Pinnacle Bank. The Firm operates as a community bank primarily in the urban markets of Nashville and Knoxville, Tennessee. As an urban community bank, Pinnacle provides the personalized service associated with small community banks, while seeking to offer the services and products, such as investments and treasury management, offered by large regional and national banks. Pinnacle Bank offers an array of convenience-centered services and products, including round the clock telephone and Internet banking, mobile banking, debit and credit cards, direct deposit, remote deposit and cash management services for small- to medium-sized businesses. In addition, Pinnacle Bank is associated with a network of automated teller machines of other financial institutions that its clients are able to use throughout Tennessee and other regions across the nation.
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