Top 5 Bank Stocks to Buy Now According to Analysts

3. Pinnacle Financial Partners Inc (NYSE:PNFP)

Number of Hedge Fund Holders: 52

Stock Upside Potential: 18.77%

Pinnacle Financial Partners Inc (NYSE:PNFP) is one of the top bank stocks to buy now according to analysts. Wall Street has a Strong Buy rating on PNFP stock and sees more than 18% upside potential to the current share price.

On June 25, Benchmark initiated coverage of Pinnacle Financial Partners Inc (NYSE:PNFP) stock with a Buy rating and a price target of $132. The brokerage observed that Pinnacle’s growth trajectory and geographic footprint have been bolstered following its merger with Synovus. In light of this, the brokerage expects Pinnacle’s profitability to improve over the next year.

Benchmark noted that the market has doubts about the success of Pinnacle’s combination with Synovus, leading to the stock trading at a discounted valuation. The brokerage’s price target for Pinnacle stock is set at 11 times its fiscal 2027 earnings estimates.

Pinnacle and Synovus completed their $8.6 billion all-stock merger of equals in January, forming a regional banking powerhouse with $117.2 billion in assets, $95.7 billion in deposits, and more than 400 branches.

Pinnacle Financial Partners Inc (NYSE:PNFP) is a major American regional bank and financial services company. It operates in multiple states across the Southeast and provides banking, investment, mortgage, and insurance services to consumers and businesses.