Truist Securities on Monday nudged up its price objective on Pinnacle Financial Partners to $119.00 from $118.00, while leaving its Buy rating unchanged. The firm’s adjustment reflects the finalized Synovus merger, which closed on January 1, 2026, and now includes updated transaction assumptions and pro forma guidance for 2026.
At the time of the update, Pinnacle shares were trading at $95.73. The company carries a market capitalization of $14.41 billion and a reported price-to-earnings ratio of 11.92. Analyst price targets on the stock span a range from $100 to $135.
Truist raised its operating earnings-per-share projections for Pinnacle, increasing the 2026 estimate to $10.30 from $10.05, and lifting the 2027 forecast to $11.35 from $11.25. The firm’s modeling for 2027 assumes 6% revenue growth and 300 basis points of positive operating leverage, driven by cost savings expected to be realized throughout 2026 and 2027.
The analysis also explicitly includes expectations for continued increases in credit costs and a stable-to-increasing CET-1 ratio. Using Truist’s revised 2027 EPS estimate, the new $119 target equates to a price-to-earnings multiple of 10.5x on 2027 operating EPS.
Supplementary metrics cited alongside the estimate revisions show that Pinnacle delivered 20.51% revenue growth over the last twelve months, according to InvestingPro data. The bank currently yields 0.99% in dividends and has sustained dividend distributions for 13 consecutive years. InvestingPro’s Fair Value analysis indicated that PNFP appears slightly overvalued at current share levels.
Recent company results paint a mixed picture. Pinnacle’s fourth-quarter 2025 earnings-per-share came in at $1.47, missing the consensus forecast of $2.25 - a shortfall of 34.67%. Revenue for the quarter, however, was stronger than expected: Pinnacle reported $629.67 million, ahead of a $549.2 million forecast by 14.65%.
Following the quarterly release, Raymond James reaffirmed a Strong Buy rating on Pinnacle and kept a $120.00 price target. That firm also raised its EPS estimate for Pinnacle for the year 2027, noting resilience in core pre-provision net revenue despite the EPS miss.
Together, the analyst updates and recent quarterly results illustrate active coverage and differing emphasis among sell-side firms - a slight upward tilt in multi-year operating EPS forecasts from Truist and continued bullish conviction from Raymond James, paired with near-term execution noise in reported GAAP EPS.
Investors evaluating Pinnacle will see the $119 target linked to a modest multiple on 2027 operating earnings, while the company’s recent revenue strength, merger-related pro forma guidance and modeled cost savings are weighed against higher credit costs and the reported quarterly EPS gap.