Pinnacle financial director Farnsworth buys $84,939 in shares

Published 04/08/2025, 18:56
Pinnacle financial director Farnsworth buys $84,939 in shares

Director Thomas C. Farnsworth III of Pinnacle Financial Partners Inc (NASDAQ:PNFP) acquired 1,000 shares of the company’s common stock on August 1, 2025. The shares were purchased at a price of $84.9395, totaling $84,939. The purchase comes as the stock trades near oversold levels according to InvestingPro analysis, with shares down nearly 30% over the past six months. The company currently trades below its Fair Value, suggesting potential upside opportunity.

Following the transaction, Farnsworth directly owns 28,277 shares of Pinnacle Financial Partners Inc. He also directly owns 2,000 depositary shares.

In other recent news, Pinnacle Financial Partners reported quarterly earnings that surpassed expectations, driven by increased fees and net interest income, although higher expenses from incentive compensation were noted. Fitch Ratings has revised Pinnacle’s outlook to negative while affirming its long and short-term issuer default ratings at ’BBB’ and ’F3’. This follows Pinnacle’s announcement of its acquisition of Synovus (NYSE:SNV) Financial Corp, expected to close in the first quarter of 2026. Stephens downgraded Pinnacle Financial from Overweight to Equal Weight, citing concerns over the pending all-stock acquisition deal with Synovus. Additionally, Stephens lowered its price target for Pinnacle to $104.00 from $133.00, reflecting its valuation methodology. On a more positive note, Citi raised its price target for Pinnacle to $140.00, maintaining a Buy rating due to strong loan growth and promising hiring trends. Piper Sandler continues to hold a Neutral rating with a $110.00 price target, despite the earnings beat. These developments reflect a mix of optimism and caution among analysts regarding Pinnacle Financial’s future trajectory.

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