Veteran bank analyst Peyton Green has moved from Sterne Agee to Piper Jaffray, where he has now resumed coverage of Pinnacle Financial Partners, among other regional banks. Green rates shares of downtown-based Pinnacle at 'neutral' and sees them climbing to $53 in the coming quarters. The stock (Ticker: PNFP) closed Monday's volatile session down almost 6 percent at $45.91.
Pinnacle Financial Partners has completed its acquisition of CapitalMark Bank & Trust in Chattanooga, a move that grows Pinnacle to 37 offices and $7.6 billion in assets. CapitalMark's four offices will keep their name until next March, when the integration of the two companies will be wrapped up.
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