The stock of Pinnacle Financial Partners (NASDAQ:PNFP) reached all time high today, Nov, 14 and still has $94.40 target or 54.00% above today’s $61.30 share price. This indicates more upside for the $2.95 billion company. This technical setup was reported by Barchart.com. If the $94.40 PT is reached, the company will be worth $1.59B 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 262,477 shares traded hands or 27.84% up from the average. Pinnacle Financial Partners (NASDAQ:PNFP) has risen 20.65% since April 12, 2016 and is uptrending. It has outperformed by 15.67% 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. The rating was downgraded by Sandler O’Neill on Tuesday, September 13 to “Hold”. Stephens upgraded the shares of PNFP in a report on Friday, January 29 to “Overweight” rating. The stock of Pinnacle Financial Partners (NASDAQ:PNFP) has “Outperform” rating given on Friday, September 11 by Wood. The stock of Pinnacle Financial Partners (NASDAQ:PNFP) has “Outperform” rating given on Friday, September 11 by Keefe Bruyette & Woods. The firm has “Market Perform” rating by FIG Partners given on Monday, July 27. Piper Jaffray initiated it with “Neutral” rating and $53 target price in Monday, August 24 report. On Thursday, July 23 the stock rating was downgraded by Wood to “Market Perform”. Hovde Group upgraded the stock to “Market Perform” rating in Monday, January 25 report. As per Thursday, October 20, the company rating was downgraded by Keefe Bruyette & Woods. The stock has “Mkt Perform” rating given by Bruyette & Woods” on Thursday, July 23.
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 decreased to 1.63 in Q2 2016. Its down 0.07, from 1.7 in 2016Q1. The ratio is negative, 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.
Northern Tru Corporation holds 0.01% of its portfolio in Pinnacle Financial Partners (NASDAQ:PNFP) for 879,991 shares. Tower Capital Ltd (Trc) holds 0.01% of its portfolio in Pinnacle Financial Partners (NASDAQ:PNFP) for 1,677 shares. Ranger Mgmt Limited Partnership holds 2.33% or 772,465 shares in its portfolio. Cap Impact Ltd Limited Liability Company has invested 0.44% of its portfolio in Pinnacle Financial Partners (NASDAQ:PNFP). Envestnet Asset Management Inc reported 6,342 shares or 0% of all its holdings. Teachers Advsr has 0.02% invested in the company for 281,626 shares. Stonebridge Capital Ltd Liability Corporation has 6,942 shares for 0.12% of their US portfolio. The California-based Los Angeles Cap And Equity has invested 0.01% in Pinnacle Financial Partners (NASDAQ:PNFP). Gemmer Asset Mngmt Limited Liability Corp holds 181 shares or 0% of its portfolio. Moreover, Fdx Advsrs has 0.02% invested in Pinnacle Financial Partners (NASDAQ:PNFP) for 9,675 shares. Dana Inv Advsr owns 47,826 shares or 0.1% of their US portfolio. Strs Ohio, a Ohio-based fund reported 2,400 shares. Swiss Bancorp last reported 0.01% of its portfolio in the stock. The North Carolina-based Sheets Smith Wealth has invested 0.09% in Pinnacle Financial Partners (NASDAQ:PNFP). Farmers Merchants Invs accumulated 0% or 142 shares.
Insider Transactions: Since June 7, 2016, the stock had 0 buys, and 2 insider sales for $192,610 net activity. HUDDLESTON WILLIAM H IV sold $100,420 worth of stock or 2,000 shares. 1,808 shares with value of $92,190 were sold by LOUGHRY ED C JR on Tuesday, November 1.
More notable 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 Businesswire.com with their article: “Pinnacle Financial Announces Pricing of Private Offering of Subordinated Notes” published on November 09, 2016, Nasdaq.com published: “Pinnacle Financial Partners Enters Oversold Territory” on October 21, 2016. More interesting news about Pinnacle Financial Partners (NASDAQ:PNFP) were released by: Bizjournals.com and their article: “Best Places to Work finalist: Pinnacle Financial Partners” published on October 25, 2016 as well as Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: Capitol Federal Financial, Pinnacle Financial Partners …” with publication date: October 31, 2016.
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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