Pinnacle Financial Partners (PNFP) was Downgraded by Sandler O’Neill to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Sandler O’Neill advised their investors in a research report released on Sep 13, 2016.
Many Wall Street Analysts have commented on Pinnacle Financial Partners. Company shares were Upgraded by Piper Jaffray on Jul 12, 2016 to ” Overweight”, Firm has raised the Price Target to $ 60 from a previous price target of $51 .
On the company’s financial health, Pinnacle Financial Partners reported $0.75 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $0.74. The company had revenue of $107.80 million for the quarter, compared to analysts expectations of $103.55 million. The company’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.
Pinnacle Financial Partners opened for trading at $56.16 and hit $57.23 on the upside on Monday, eventually ending the session at $57.22, with a gain of 1.26% or 0.71 points. The heightened volatility saw the trading volume jump to 244,372 shares. Company has a market cap of $2,640 M.
In a different news, on Aug 9, 2016, William H Iv Huddleston (director) sold 10,000 shares at $53.96 per share price. According to the SEC, on Mar 14, 2016, Harold R Carpenter (EVP & CFO) sold 6,526 shares at $46.54 per share price. On Mar 8, 2016, M Terry Turner (CEO) sold 17,440 shares at $47.94 per share price, according to the Form-4 filing with the securities and exchange commission.
Pinnacle Financial Partners Inc. (Pinnacle) is a bank holding company. Pinnacle operates through its wholly owned subsidiary Pinnacle Bank. The Company 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 products and services such as investments and treasury management offered by large regional and national banks. Pinnacle Bank offers an array of convenience-centered products and services including 24-hour 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.