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Upgrade Alert for Pinnacle Financial Partners (PNFP)

By Shiri Gupta

Pinnacle Financial Partners (NASDAQ:PNFP) was upgraded from Neutral to Overweight at Piper Jaffray today. The stock closed yesterday at $52.69 on volume of 506,000 shares, above average daily volume of 232,000.

Pinnacle Financial Partners, Inc. is a holding company for Pinnacle National Bank. The Bank operates as a community bank emphasizing personal banking relationships with individuals and businesses located in its primary service area, which is comprised of the metropolitan Nashville, Tennessee area and surrounding counties.

Pinnacle Financial Partners share prices have moved between a 52-week high of $57.99 and a 52-week low of $43.32 and closed yesterday at 22% above that low price at $52.69 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.3%.

There is potential upside of 7.7% for shares of Pinnacle Financial Partners based on a current price of $52.69 and an average consensus analyst price target of $56.75. The stock should discover initial support at its 200-day moving average (MA) of $50.11 and subsequent support at its 50-day MA of $48.81.

SmarTrend is tracking the current trend status for Pinnacle Financial Partners and will alert subscribers who have PNFP in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades pinnacle financial partners

Ticker(s): PNFP