In a filing, Pinnacle Financial Partners Inc. revealed its CEO TURNER M TERRY unloaded Company’s shares for reported $1.98 million on Mar 12 ’24. In the deal valued at $82.22 per share,24,057 shares were sold. As a result of this transaction, TURNER M TERRY now holds 294,790 shares worth roughly $24.89 million.
Then, MCCABE ROBERT A JR sold 22,857 shares, generating $1,879,303 in total proceeds. Upon selling the shares at $82.22, the CHAIRMAN now owns 268,311 shares.
Before that, CALLICUTT RICHARD D II sold 11,030 shares. Pinnacle Financial Partners Inc. shares valued at $906,887 were divested by the Chairman-Carolinas & Virginia at a price of $82.22 per share. As a result of the transaction, CALLICUTT RICHARD D II now holds 97,226 shares, worth roughly $8.21 million.
Barclays initiated its Pinnacle Financial Partners Inc. [PNFP] rating to an Equal weight in a research note published on March 08, 2024; the price target was $93. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in early December with a ‘”a Buy”‘ rating. Jefferies also remained covering PNFP and has increased its forecast on October 10, 2023 with a “Hold” recommendation from previously “an Underperform” rating. Raymond James revised its rating on October 06, 2022. It rated PNFP as “a Mkt perform” which previously was an “an Outperform”.
Price Performance Review of PNFP
On Tuesday, Pinnacle Financial Partners Inc. [NASDAQ:PNFP] saw its stock jump 1.36% to $84.43. Over the last five days, the stock has gained 3.01%. Pinnacle Financial Partners Inc. shares have fallen nearly -3.20% since the year began. Nevertheless, the stocks have risen 58.58% over the past one year. While a 52-week high of $92.33 was reached on 01/30/24, a 52-week low of $43.31 was recorded on 02/07/24. SMA at 50 days reached $83.11, while 200 days put it at $74.26. A total of 0.33 million shares were traded, compared to the trading of 0.28 million shares in the previous session.
Levels Of Support And Resistance For PNFP Stock
The 24-hour chart illustrates a support level at 83.23, which if violated will result in even more drops to 82.04. On the upside, there is a resistance level at 85.20. A further resistance level may holdings at 85.98. The Relative Strength Index (RSI) on the 14-day chart is 55.31, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.04, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 31.16%. Stochastics %K at 57.45% indicates the stock is a holding.
How much short interest is there in Pinnacle Financial Partners Inc.?
A steep rise in short interest was recorded in Pinnacle Financial Partners Inc. stocks on Mar 28, 2024, growing by 90000.0 shares to a total of 1.73 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 1.64 million shares. There was a rise of 5.2%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.29% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.34.
