Today’s Stock Alert: Will Pinnacle Financial Partners Run Out of Steam Soon?

Today's Stock Alert: Will Pinnacle Financial Partners Run Out of Steam Soon?

The stock of Pinnacle Financial Partners (NASDAQ:PNFP) hit a new 52-week high and has $68.02 target or 3.00% above today’s $66.04 share price. The 7 months bullish chart indicates low risk for the $3.07B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $68.02 price target is reached, the company will be worth $92.10 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 209,638 shares traded hands. Pinnacle Financial Partners (NASDAQ:PNFP) has risen 30.73% since April 28, 2016 and is uptrending. It has outperformed by 24.80% the S&P500.

Analysts await Pinnacle Financial Partners (NASDAQ:PNFP) to report earnings on January, 17. They expect $0.82 EPS, up 18.84% or $0.13 from last year’s $0.69 per share. PNFP’s profit will be $38.12M for 20.13 P/E if the $0.82 EPS becomes a reality. After $0.78 actual EPS reported by Pinnacle Financial Partners for the previous quarter, Wall Street now forecasts 5.13% EPS growth.

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 firm has “Overweight” rating given on Friday, January 29 by Stephens. The company was upgraded on Monday, January 25 by Hovde Group. The rating was downgraded by FIG Partners to “Market Perform” on Monday, July 27. On Thursday, October 20 the stock rating was downgraded by Hilliard Lyons to “Neutral”. As per Monday, August 24, the company rating was initiated by Piper Jaffray. The firm has “Outperform” rating by Keefe Bruyette & Woods given on Friday, September 11. The stock of Pinnacle Financial Partners (NASDAQ:PNFP) earned “Mkt Perform” rating by Bruyette & Woods” on Thursday, July 23. Keefe Bruyette & Woods downgraded the stock to “Mkt Perform” rating in Thursday, October 20 report. The rating was downgraded by Sandler O’Neill to “Hold” on Tuesday, September 13. Wood downgraded Pinnacle Financial Partners (NASDAQ:PNFP) rating on Thursday, July 23. Wood has “Market Perform” rating and $54 price target.

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.
Goldman Sachs Gru Inc last reported 0.02% of its portfolio in the stock. Prudential Fincl reported 94,264 shares or 0.01% of all its holdings. Patten owns 26,262 shares or 0% of their US portfolio. The California-based Menta has invested 0.06% in Pinnacle Financial Partners (NASDAQ:PNFP). State Street Corp has 934,238 shares for 0% of their US portfolio. Teachers Retirement System Of The State Of Kentucky last reported 0.02% of its portfolio in the stock. Guggenheim Cap Limited Liability reported 57,783 shares or 0.01% of all its holdings. Sheets Smith Wealth owns 6,500 shares or 0.09% of their US portfolio. Gemmer Asset Mngmt Lc holds 181 shares or 0% of its portfolio. Ubs Asset Mgmt Americas owns 144,286 shares or 0.01% of their US portfolio. Moreover, Royal Bancorp Of Canada has 0.01% invested in Pinnacle Financial Partners (NASDAQ:PNFP) for 453,408 shares. Woodmont Inv Counsel Llc reported 20,400 shares or 0.3% of all its holdings. Thrivent Fincl For Lutherans last reported 0% of its portfolio in the stock. California Employees Retirement owns 257,700 shares or 0.02% of their US portfolio. Tower Rech Limited (Trc) holds 1,677 shares or 0.01% of its portfolio.

Insider Transactions: Since June 7, 2016, the stock had 0 insider buys, and 7 selling transactions for $3.43 million net activity. Shares for $100,420 were sold by HUDDLESTON WILLIAM H IV. LOUGHRY ED C JR sold 1,808 shares worth $92,190. The insider MCCABE ROBERT A JR sold $936,075. Samuel Ronald L had sold 5,000 shares worth $327,950. CARPENTER HAROLD R sold $359,523 worth of Pinnacle Financial Partners (NASDAQ:PNFP) on Monday, November 14. QUEENER HUGH M also sold $460,865 worth of Pinnacle Financial Partners (NASDAQ:PNFP) on Monday, November 14.

More important 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 Nasdaq.com published article titled: “Pinnacle Financial Partners Enters Oversold Territory”, Bizjournals.com published: “Best Places to Work finalist: Pinnacle Financial Partners” on October 25, 2016. More interesting news about Pinnacle Financial Partners (NASDAQ:PNFP) was released by: Nasdaq.com and their article: “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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