The editors of Fortune have compiled their 2013 list of the country's best workplaces, and local bank holding company Pinnacle Financial Partners features proudly on the small and medium-size category ranking. Check out Pinnacle's blurb here and the full list here.
Pinnacle Financial Partners has recruited two people from BB&T, including a business lender with 10 years of local experience. Josh Marsh and Cynthia Kiel both will work from Pinnacle’s downtown Nashville office.
Marsh has joined Pinnacle as a senior vice president and financial advisor. At BB&T, he was a VP and business services officer for its commercial banking divisions in Knoxville and Nashville. He is past committee chair for United Way of Greater Knoxville’s annual allocations process and has also served as a United Way loaned executive.
Kiel has 28 years of financial services experience and has joined Pinnacle as financial advisor assistant. Previously, she was a business services assistant at BB&T and a branch operations manager at the former First American National Bank.
Analyst Kevin Reynolds at Wunderlich Securities has raised his rating on shares of Pinnacle Financial Partners to 'buy' from 'hold' and his price target to $34 from $31. The move comes a month after Pinnacle reported strong second-quarter numbers and executives said the company would be able to sustain a regular dividend payment along with its growth. Reynolds says there's a good chance Pinnacle will comfortably top the Street's 2014 profit estimate. His $34 target leaves almost 20 percent of upside for Pinnacle (Ticker: PNFP), which already has climbed more than 50 percent this year.
In a bit of a delayed reaction to Pinnacle Financial Partners' second-quarter profit report, Raymond James analyst Michael Rose on Thursday morning upgraded shares of the bank holding company to 'outperform' from 'market perform.' Rose also lifted his target for Pinnacle (Ticker: PNFP) to $30, which led investors to bid the stock up above $29 for a bit this morning before retreating somewhat.
Still, Pinnacle is on course to close trading with a market cap of more than $1 billion for the first time ever. That brings to 20 the number of Middle Tennessee companies that can brag about that.
POSTDATA: WARRANTY DEEDS