The Vanguard Group, Inc. has recently announced that it has increased stake in Pinnacle Financial Partners Inc. (NASDAQ:PNFP) by 1.53%. After grabbing 6.82 million shares, the institutional investor is now in possession of 0.1 million shares of the Financial Company. The new investment brought the stake of investor firm to 8.92% having worth around $505.37 million. Moreover, BlackRock Fund Advisors increased its share by 0.19 million to have a control over 6.45 million shares. And T. Rowe Price Investment Manageme raised its holdings to 66069.0 shares by acquiring 3.9 million shares or 5.10% of the stake.
Pinnacle Financial Partners Inc. (PNFP) concluded trading on 03/16/23 at a closing price of $57.19, with 2.25 million shares of worth about $128.75 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -30.45% during that period and on Thursday the price saw a gain of about 1.76%. Currently the company’s common shares owned by public are about 75.77M shares, out of which, 74.78M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 10 analysts are covering the PNFP stock and their offered price forecasts bring an average price target of $86.61. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $95.00 and could fall to a lowest price of $62.00. The stock’s current price level is 34.6% above of average price target set by the analysts, while a rise to estimated low would result in gain of 7.76% for the stock. However, touching the estimated high of $95.00 would mean a gain of 39.8% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 28 times over the past 12 months. They bought 45,203 shares in 7 of the transactions. In 21 selling transactions, insiders dumped 22,991 shares.
iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Pinnacle Financial Partners Inc. iShares Core S&P Mid Cap ETF is currently holding 2.39 million shares of worth totaling $176.8 million. The company recently came buying 5412.0 shares which brought its stake up to 3.12% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 13576.0 shares, after which its hold over company’s outstanding shares expand to 2.91%, leaving 2.23 million shares with the mutual fund that have a worth of about $164.89 million. Vanguard Small Cap Index Fund, after buying 1.88 million shares, have now control over 2.46% of the stake in the company. It holds 10318.0 shares of worth $139.42 million.
Pinnacle Financial Partners Inc. (NASDAQ: PNFP) started trading at $55.48, below -$0.72 from concluding price of the previous day. However, the stock later moved at a day high price of 58.59, or with a gain of 1.76%. Stock saw a price change of -8.05% in past 5 days and over the past one month there was a price change of -28.30%. Year-to-date (YTD), PNFP shares are showing a performance of -22.08% which decreased to -39.72% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $52.28 but also hit the highest price of $99.35 during that period. The average intraday trading volume for Pinnacle Financial Partners Inc. shares is 671.09K. The stock is currently trading -18.36% below its 20-day simple moving average (SMA20), while that difference is down -22.49% for SMA50 and it goes to -26.62% lower than SMA200.
The Vanguard Group, Inc. acquired 6.82 million shares of Pinnacle Financial Partners Inc. having value of about $505.37 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.1 million shares in the company valued at close to $5869066.56, or have control over 1.53% stake in the company. Pinnacle Financial Partners Inc. (NASDAQ: PNFP) currently have 75.77M outstanding shares and institutions hold larger chunk of about 85.60% of that. Holding of mutual funds in the company is about 4.89% while other institutional holders and individual stake holders have control over 51.17% and 33.38% of the stake respectively.
The stock has a current market capitalization of $4.55B and its 3Y-monthly beta is at 1.15. PE ratio of stock for trailing 12 months is 7.98, while it has posted earnings per share of $7.17 in the same period. Its PEG reads 0.25 while making debt-to-equity ratio of 0.08. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PNFP, volatility over the week remained 10.72% while standing at 4.75% over the month.
Analysts are in expectations that Pinnacle Financial Partners Inc. (PNFP) stock would likely to be making an EPS of $1.78 in the current quarter, while forecast for next quarter EPS is $1.82 and it is $7.92 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.67 which is $1.9 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.65 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 6.20% while it is estimated to increase by 8.05% in next year. EPS is likely to grow at an annualized rate of 32.20% for next 5-years, compared to annual growth of 17.50% made by the stock over the past 5-years.
Analysts at 10 brokerage firms have issued recommendations for the Pinnacle Financial Partners Inc. (PNFP)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.20. Out of those 10 Wall Street analysts, 8 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Coverage by Jefferies stated Pinnacle Financial Partners Inc. (PNFP) stock as an Underperform in their note to investors on July 11, 2022, suggesting a price target of $66 for the stock. On July 07, 2022, Raymond James Upgrade their recommendations, while on April 07, 2022, Jefferies Initiated their ratings for the stock with a price target of $100. Stock get a Buy rating from Seaport Global Securities on May 21, 2021.
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