Keefe Bruyette & Woods analyst Jefferson Harralson has tweaked his price target for shares of Pinnacle Financial Partners following the downtown bank's recent third-quarter results. Harralson, who rates Pinnacle a 'buy,' now sees Pinnacle climbing to $58, up from $54. That still leaves little upside, however, for Pinnacle (Ticker: PNFP), which closed Friday trading at $54 and change.
Analysts at Goldman Sachs have removed LifePoint Health from their 'conviction buy' list following the recent profit warnings from HCA Holdings and Community Health Systems. The Goldman team still rates Brentwood-based as a 'buy' and is sticking to its $87 price target. LifePoint (Ticker: LPNT) ended last week at a little more than $64.
Earlier this year, the leaders of Avenue Financial Holdings said they were mulling acquisitions of wealth management firms as a way to grow their fee revenues. Still with plenty of liquidity on their balance sheet, such purchases remain "a top priority," Chief Credit Officer Andy Moats (pictured) told analysts and investors Friday morning on the company's Q3 earnings call. There is still a lot of potential to tie such businesses into Avenue's private banking operations, Moats said, and his team is still carrying on "quite a few conversations" on the M&A front. But don't expect big news too soon, he added: Any significant news will likely have to wait until 2016.
Avenue shares (Ticker: AVNU) were up on the heels of the company's Q3 numbers. At about 1:40 p.m. Friday, they were changing hands at $13.25, almost 2 percent higher than where they closed Thursday.