Could Pinnacle Financial Partners, Inc. (PNFP) Go Up? The Stock Formed Inverse Head & Shoulders

June 27, 2018 - By Rusty Cady

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Logo

Investors sentiment increased to 1.33 in Q1 2018. Its up 0.37, from 0.96 in 2017Q4. It increased, as 24 investors sold Pinnacle Financial Partners, Inc. shares while 71 reduced holdings. 34 funds opened positions while 92 raised stakes. 56.67 million shares or 3.04% less from 58.45 million shares in 2017Q4 were reported.
Jpmorgan Chase &, New York-based fund reported 197,177 shares. Prudential Fincl Incorporated invested 0% of its portfolio in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP). Ubs Asset Mngmt Americas reported 247,505 shares. Moreover, Waddell And Reed Financial has 0.03% invested in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP). Strs Ohio accumulated 0.02% or 65,000 shares. Kennedy Cap Management Inc owns 309,559 shares or 0.39% of their US portfolio. Ameritas Invest Prtn has 0.07% invested in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) for 22,103 shares. Neuberger Berman Grp Limited Com, a New York-based fund reported 19,279 shares. Salem Counselors invested in 602 shares or 0% of the stock. Comerica Bankshares, a Michigan-based fund reported 103,833 shares. Franklin Res has 0.04% invested in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP). Public Employees Retirement Association Of Colorado accumulated 12,259 shares. Ftb Advsr Incorporated reported 400 shares. Copper Rock Prtn Ltd Liability Co holds 385,638 shares or 1.48% of its portfolio. Oxbow Advsr Ltd Company has 35,540 shares.

Since January 8, 2018, it had 0 insider buys, and 16 selling transactions for $10.77 million activity. $120,434 worth of stock was sold by LOUGHRY ED C JR on Friday, February 2. Samuel Ronald L sold $198,192 worth of stock or 3,000 shares. TURNER M TERRY sold $2.24M worth of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) on Wednesday, March 7. The insider Scott Gary L sold 900 shares worth $61,548. 11,835 Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) shares with value of $809,929 were sold by CARPENTER HAROLD R. BURNS GREGORY L sold $200,333 worth of stock.

The stock of Pinnacle Financial Partners, Inc. (PNFP) formed H&SI with $68.78 price target or 9.00 % above the current $63.10 share price. The 8 months Head & Shoulders Inverse reveals low risk for the $4.87 billion company. This trade was featured by Faxor.com on Jun, 27. If the $68.78 target price is reached, the company’s valuation will be $438.30M more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock decreased 0.47% or $0.3 during the last trading session, reaching $63.1. About 19,947 shares traded. Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has risen 9.17% since June 27, 2017 and is uptrending. It has underperformed by 3.40% the S&P500.

Analysts await Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) to report earnings on July, 17. They expect $1.15 EPS, up 36.90 % or $0.31 from last year’s $0.84 per share. PNFP’s profit will be $88.76M for 13.72 P/E if the $1.15 EPS becomes a reality. After $1.13 actual EPS reported by Pinnacle Financial Partners, Inc. for the previous quarter, Wall Street now forecasts 1.77 % EPS growth.

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Ratings Coverage

Among 8 analysts covering Pinnacle Financial Partners (NASDAQ:PNFP), 7 have Buy rating, 1 Sell and 0 Hold. Therefore 88% are positive. Pinnacle Financial Partners has $85.0 highest and $5600 lowest target. $72.86’s average target is 15.47% above currents $63.1 stock price. Pinnacle Financial Partners had 14 analyst reports since January 8, 2018 according to SRatingsIntel. The rating was maintained by SunTrust on Wednesday, January 17 with “Buy”. Hovde Group upgraded it to “Buy” rating and $7200 target in Wednesday, April 18 report. SunTrust maintained the shares of PNFP in report on Monday, January 8 with “Buy” rating. The stock of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has “Buy” rating given on Wednesday, April 18 by Piper Jaffray. Sandler O’Neill maintained the shares of PNFP in report on Thursday, January 18 with “Buy” rating. On Monday, February 26 the stock rating was maintained by Keefe Bruyette & Woods with “Buy”. UBS maintained the shares of PNFP in report on Monday, June 11 with “Sell” rating. The firm earned “Buy” rating on Thursday, February 15 by Keefe Bruyette & Woods. The rating was maintained by Stephens on Thursday, January 18 with “Hold”. On Tuesday, April 10 the stock rating was upgraded by Raymond James to “Buy”.

Another recent and important Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) news was published by Seekingalpha.com which published an article titled: “Pinnacle Financial Partners (PNFP) Investor Presentation – Slideshow” on June 08, 2018.

Pinnacle Financial Partners, Inc. operates as a bank holding firm for Pinnacle Bank that provides various banking services and products in the United States. The company has market cap of $4.87 billion. The firm accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts. It has a 20.76 P/E ratio. The Company’s loan products include commercial loans, such as equipment and working capital loans; commercial real estate loans comprising investment properties and business loans secured by real estate; and loans to individuals consisting of secured and unsecured installment and term loans and lines of credit, residential first mortgage loans, and home equity loans and lines of credit.

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Institutional Positions Chart

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