It is Poised to be a Bull Market for Pinnacle Financial Partners Inc. (PNFP)

Pinnacle Financial Partners Inc. (NASDAQ: PNFP) stock fell -2.74% on Wednesday to $50.80 against a previous-day closing price of $52.23. With 0.52 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.86 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $51.89 whereas the lowest price it dropped to was $50.38. The 52-week range on PNFP shows that it touched its highest point at $89.00 and its lowest point at $43.31 during that stretch. It currently has a 1-year price target of $70.25. With its current market cap of 3.99 billion, PNFP has annualized dividend of $0.88 while the current yield stands at 1.73%. Beta for the stock currently stands at 1.10.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PNFP was up-trending over the past week, with a rise of 1.32%, but this was down by -1.44% over a month. Three-month performance dropped to -32.06% while six-month performance fell -38.65%. The stock lost -34.60% in the past year, while it has lost -30.79% so far this year. A look at the trailing 12-month EPS for PNFP yields 7.27 with Next year EPS estimates of 6.93. For the next quarter, that number is 1.67. This implies an EPS growth rate of 6.20% for this year and 3.17% for next year. EPS is expected to grow by 32.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 17.50%.

Float and Shares Shorts:

At present, 75.92 million PNFP shares are outstanding with a float of 74.78 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.4 million, which was 1.83% higher than short shares on Mar 30, 2023. In addition to Mr. Robert A. McCabe Jr. as the firm’s Co-Founder & Chairman, Mr. Michael Terry Turner serves as its Pres, CEO & Director.

Institutional Ownership:

Through their ownership of 85.35% of PNFP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.86% of PNFP, in contrast to 4.87% held by mutual funds. Shares owned by individuals account for 31.60%. As the largest shareholder in PNFP with 9.01% of the stake, The Vanguard Group, Inc. holds 6,907,132 shares worth 6,907,132. A second-largest stockholder of PNFP, BlackRock Fund Advisors, holds 6,561,602 shares, controlling over 8.56% of the firm’s shares. T. Rowe Price Investment Manageme is the third largest shareholder in PNFP, holding 4,040,815 shares or 5.27% stake. With a 3.12% stake in PNFP, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 2,387,200 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.93% of PNFP stock, is the second-largest Mutual Fund holder. It holds 2,245,268 shares valued at 121.76 million. Vanguard Small Cap Index Fund holds 2.48% of the stake in PNFP, owning 1,901,585 shares worth 103.12 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PNFP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PNFP analysts setting a high price target of $85.00 and a low target of $47.00, the average target price over the next 12 months is $69.67. Based on these targets, PNFP could surge 67.32% to reach the target high and fall by -7.48% to reach the target low. Reaching the average price target will result in a growth of 37.15% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Dividends & Yield:

In terms of dividends, PNFP has a current ratio of $0.88, which is $0.88 over the trailing 12-months, while a dividend of $0.68 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and PNFP currently yields $1.73. In the past year, PNFP’s dividend yield has been $1.73, but when looking at the stock over the past five years, its yield has been $1.08. Accordingly, PNFP has a current buyback yield of $0.14. This was $0.14 for the TTM.

Summary of Insider Activity:

Insiders traded PNFP stock several times over the past three months with 16 Buys and 18 Sells. In these transactions, 101,563 shares were bought while 57,966 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 38 over the past year. The total number of shares bought during that period was 146,766 while 80,943 shares were sold.

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