Pinnacle Financial Partners has still an uptrend and is going toward its highest level.
Fundamentally, we believe that the company is strong and presents a good trading potential. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year. The great business predictability emphasize the quality of this investment in the mid-term.
Technically, the security shows a bullish configuration on all time scales. Prices are coming back on the USD 24.9 short term support. In weekly data, 20-week moving average helps the stock to keep its uptrend.
According to both technical and fundamental elements, it seems opportune to take a long position at the current price. The bullish trend should allow the security to reach the USD 26.1 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under the USD 24.9 short term support to avoid a downtrend.
Pinnacle Financial Partners, Inc. is a financial holding company. The Company operates through its wholly owned subsidiary, Pinnacle Bank (the Bank). The Bank is a Tennessee state-chartered bank. It offers a range of lending products, including commercial, real estate and consumer loans to individuals, businesses, and professional entities. The Bank is also focused on offering core deposits, including savings, noninterest-bearing checking, interest-bearing checking, money market and certificate of deposit accounts, including access to products offered through various IntraFi Network Deposit programs. The Bank also provides fiduciary and investment services through its Trust & Investment Services department. Its treasury management services include, online wire origination, automated bill pay services, positive pay, and others. It operates approximately 128 offices, including 51 in Tennessee, 39 in North Carolina, 21 in South Carolina, 10 in Virginia, three in Georgia.