First Tennessee makes private client push

VPs make move from BofA, PNC; wealth advisory exec promoted to SVP
Jul 30, 2015 1:48 PM

Raymond James aims to use Gulch move to boost staff

Financial services firm Raymond James will next week relocate its West End Avenue office, which is home to about 50 people, to MarketStreet’s Gulch Crossing building on Demonbreun Street. The firm’s local leaders have big plans to capitalize on their new space by beefing up their personnel roster by at least seven financial advisors and their staffs.

“The opening of Raymond James’ office at Gulch Crossing has been long anticipated by our advisors and staff and provides us with much needed space to accommodate the expansion of our already strong presence here in Nashville,” Bill Lynch, manager of the retail office, said in a release.

The West End Raymond James branch has almost $2 billion of client assets under management and has grown from its four advisors in 2006 to the 18 who will make the Gulch move.

Jul 29, 2015 11:26 AM

Franklin Financial leaders outline health care lending goals

Ex-CapStar team expected to be double-digit component in two years
Jul 29, 2015 10:50 AM

Franklin Financial Q2 up 54%

Loans up $80M during quarter but deposits rose much faster still
Jul 29, 2015 6:56 AM

Analyst action: Pinnacle, Delek

Brian Martin at FIG Partners has lowered his rating on shares of Pinnacle Financial Partners to 'market perform' from 'market outperform' following the bank holding company's Q2 profit report. Before the report, Martin's price target was $53, just a bit above where Pinnacle (Ticker: PNFP) is changing hands today. Over at SunTrust Robinson Humphrey, analysts have trimmed their price target for Nashville-based Pinnacle to $62 from $63 but maintained his 'buy' rating.

Macquarie analyst Vikas Dwivedi has launched coverage of several refining stocks with positive ratings, saying the sector will benefit from tight capacity and solid financials. Among the companies getting 'outperform' ratings is Brentwood-based Delek US Holdings. Mid-morning Tuesday, Delek (Ticker: DK) was trading at about $36.50. So far this year, they're up 34 percent.

Jul 28, 2015 1:04 PM

Strategy, marketing chief leaving Avenue

Bank co-founder headed to Owen, takes aim at entrepreneurial career
Jul 28, 2015 7:13 AM

Pinnacle prices $60M debt offering

Pinnacle Financial Partners executives plan to issue $60 million in debt to help fund their planned acquisitions of CapitalMark Bank & Trust and Magna Bank and redeem their loan with US Bank. The notes, which were priced this morning in a combo fixed-variable setup, will mature in 10 years.

Jul 27, 2015 2:14 PM

Maxwell hatches fintech fund plans

Veteran Nashville financial technology entrepreneur Joe Maxwell will step out of a full-time role at Ipreo, the company to which he sold Shareholder InSite nine months ago, at the end of this year. After that, he tells Milt Capps at Venture Nashville Connections, he will devote the majority of his time to raising a venture capital fund focused on fintech ventures.

Maxwell's "emerging markets and growth fund" will address full-spectrum fintech opportunities, he said, declining to discuss any other general partners, at this time. The new fund is unlikely to do true Seed-stage or Buyout transactions, though such deals are not forever ruled-out.

Jul 27, 2015 11:22 AM

Analyst action: Pinnacle, Genesco

Analysts at Zacks Investment Research have hiked their rating on shares of Pinnacle Financial Partners. They now rate the Nashville-based bank holding company a 'buy' instead of a 'hold' and see the shares climbing to $59 in the coming quarters. Pinnacle (Ticker: PNFP) ended last week at $53.10.

At Macquarie, Laurent Vasilescu and Stephanie Wakeham have begun covering shares of apparel retailer Genesco with a 'neutral' rating that balances the strong performance at the company's Journeys brand with the struggles of its Lids concept. Their target for Genesco (Ticker: GCO) is $69, about 10 percent higher than where the stock finished Friday's session.

Jul 27, 2015 8:41 AM

Earnings wrap: Avenue, First Farmers

Mortgages power downtown lender’s fee income; better credit quality helps lift Columbia bank
Jul 24, 2015 2:36 PM