Market Overview

Sterne Agee Reiterates Neutral on Pinnacle Financial Partners

Sterne Agee maintains its Neutral rating on Pinnacle Financial Partners (NASDAQ: PNFP) as the company progresses with credit and margin expansion as well as loan growth.

Sterne Agee says, "PNFP remains Neutral-rated based on its valuation, but the fundamental outlook keeps getting brighter. Although 4Q11 was generally in-line with expectations, an acceleration in C&I and owner-occupied CRE (“O/O CRE”) growth to 12% Y/Y and 19% LQA in 4Q11 is very bullish for improved profitability and growth in 2012E-2013E. Our 2012E and 2013E EPS of $0.80 and $1.35, respectively, are unchanged and remain solidly above consensus of $0.72 and $1.02."

PNFP closed at $16 on Tuesday.

Posted-In: Sterne AgeePrice Target Reiteration Intraday Update Markets Analyst Ratings

 

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