From Financial Modeling Prep: 2024-12-31 03:00:00

Citi analysts raised Pinnacle Financial Partners’ price target to $132 from $123, maintaining a Buy rating. Despite potential near-term challenges, the bank’s robust long-term growth trajectory inspires confidence. Fourth-quarter 2024 results may fall slightly below expectations due to higher-than-anticipated deposit growth pressuring NIM. Pinnacle is expected to sustain strong loan growth trends in the next two to three years.

In 2025, Pinnacle is projected to achieve low double-digit growth in NII, loans, and expenses, showcasing broad-based strength. Modest expense increases are forecasted for 2025 and 2026, supporting continued expansion. The bank is well-positioned to capitalize on additional lender additions, especially with potential mergers and acquisitions in its footprint.

The revised price target considers the potential upside in NIM as excess liquidity is directed towards lending credits, boosting profitability. Analysts remain optimistic about Pinnacle’s ability to drive above-peer lender additions and maintain its growth trajectory.



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