Pinnacle Financial Partners has recruited veteran investment consultant Rhett Fordham to its Mallory Lane office in Cool Springs. Fordham, who is a senior vice president, has a dozen years of experience, most recently as a VP and investment executive at Fifth Third Securities. Before that, he also worked as a regional VP for Riversource Annuities in Minneapolis and as a licensed sales assistant for SunTrust Investment Services.
Pinnacle Financial Partners has recruited Laurel McKenzie as a senior vice president and mortgage advisor who will be based at the bank's downtown headquarters. McKenzie has 20 years of experience in the mortgage industry and comes to Pinnacle from SunTrust Mortgage, where she spent more than two years. Before that, she also worked at Fifth Third Bank, First Tennessee Bank, Magna Bank and Regions Bank.
Trade publication American Banker has released its first list of best places to work in the industry. Proudly atop the section for banks with assets of $3 billion to $10 billion is Pinnacle Financial Partners, where Terry Turner says his goals for team chemistry are the same as they were at the company's founding 13 years ago.
Michael Rose at Raymond James thinks Pinnacle Financial Partners shares are ready to take a breather after running up almost 70 percent so far this year. On the heels of the bank's Q3 profits report, he has downgraded Pinnacle to 'market perform' from 'outperform.' His price target of $30 is about 5 percent below where the stock (Ticker: PNFP) is trading early this morning.
Headed in the other direction with shares of Ryman Hospitality Properties is Patrick Scholes at SunTrust Robinson Humphrey. Scholes has hiked his rating on the Nashville-based real estate investment trust to 'neutral' from 'underweight' but kept his price target at $34. Scholes' downgrade early this year took a while to look good as Ryman (Ticker: RHP) climbed above $45 but he nailed its eventual drop into the mid-$30s, where the stock has spent a lot of time since early June.
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