JP Morgan has decided to maintain its Overweight rating of Pinnacle Finl Partners (NASDAQ:PNFP) and lower its price target from $123.00 to $95.00.
Shares of Pinnacle Finl Partners are trading up 0.25% over the last 24 hours, at $72.49 per share.
A move to $95.00 would account for a 31.05% increase from the current share price.
About Pinnacle Finl Partners
Pinnacle Financial Partners Inc is a bank holding company. The company operates through its wholly owned subsidiary, Pinnacle Bank. The bank provides a full range of lending products, including commercial, real estate, and consumer loans to individuals and small to medium-size businesses. Pinnacle operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis, and Chattanooga, Tennessee, as well as surrounding counties. Its strategy relies heavily on mergers and acquisitions. A majority of its loan portfolio is in commercial loans, primarily real estate, as well as industrial loans. The bank generates a majority of its net revenue through net interest income.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
