Pinnacle Financial Partners, a bank holding company operating through its subsidiary Pinnacle Bank, has recently seen significant insider selling and institutional investment.
Insiders have sold a total of 76,661 shares in the past 90 days, amounting to approximately $9.56 million. Institutional investors, such as Azora Capital LP, Dimensional Fund Advisors LP, FMR LLC, Holocene Advisors LP, and Principal Financial Group Inc., have also made notable moves in their positions in the company. These actions by insiders and institutional investors reflect a strong interest in Pinnacle Financial Partners.
Analysts have given mixed reviews of the stock, with a prevailing "Hold" rating. UBS Group initiated coverage with a "neutral" rating, while Keefe, Bruyette & Woods maintained a "market perform" rating and adjusted their target price. Hovde Group downgraded the stock, while Stephens and Barclays raised their price targets. Overall, analysts remain cautious, with seven rating the stock as a hold and four issuing buy ratings. The average price target for Pinnacle Financial Partners is $113.64.
Pinnacle Financial Partners recently reported strong earnings for the third quarter, surpassing analysts' expectations. The company posted earnings per share of $1.86, with a robust revenue figure of $810.11 million. The firm demonstrated a return on equity of 8.89% and a net margin of 13.97%. Analysts project continued growth potential for the company, with an estimated EPS of 6.8 for the current fiscal year. Pinnacle Financial Partners has a manageable debt-to-equity ratio of 0.42 and stable liquidity positions.
In summary, Pinnacle Financial Partners is experiencing insider selling, significant institutional interest, and mixed analyst ratings. The company's strong earnings and solid financial position make it an attractive option for investors.