Pinnacle Financial falls 10% after downgrade to ‘neutral’

Bank holding company Pinnacle Financial Partners (Nasdaq:PNFP) is down 10% after analysts at Janney Montgomery downgraded the stock ahead of the opening to “neutral” from “buy.” The research firm said the downgrade was due to shares outperforming in the past week. Shares are up 4.3% during the past five trading days but are down 13% since January. In today’s trading, Pinnacle is at $22.55, down $2.51 from Friday’s close. During the past 52 weeks, the stock of Nashville-based Pinnacle ranged from $19.30 to $31.31.

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