River Oaks Capital LLC purchased a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 35,912 shares of the financial services provider’s stock, valued at approximately $2,255,000. Pinnacle Financial Partners makes up about 1.9% of River Oaks Capital LLC’s holdings, making the stock its 26th biggest position. River Oaks Capital LLC owned approximately 0.07% of Pinnacle Financial Partners at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PNFP. BlackRock Inc. lifted its position in Pinnacle Financial Partners by 56,554.1% during the 1st quarter. BlackRock Inc. now owns 5,632,547 shares of the financial services provider’s stock worth $374,283,000 after buying an additional 5,622,605 shares in the last quarter. Vanguard Group Inc. lifted its position in Pinnacle Financial Partners by 42.6% during the 2nd quarter. Vanguard Group Inc. now owns 5,840,702 shares of the financial services provider’s stock worth $366,796,000 after buying an additional 1,746,012 shares in the last quarter. Franklin Resources Inc. lifted its position in Pinnacle Financial Partners by 186.2% during the 2nd quarter. Franklin Resources Inc. now owns 1,720,468 shares of the financial services provider’s stock worth $108,045,000 after buying an additional 1,119,331 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Pinnacle Financial Partners during the 2nd quarter worth about $63,064,000. Finally, State Street Corp lifted its position in Pinnacle Financial Partners by 27.0% during the 1st quarter. State Street Corp now owns 1,913,478 shares of the financial services provider’s stock worth $127,146,000 after buying an additional 406,536 shares in the last quarter. 69.28% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO M Terry Turner sold 101,480 shares of Pinnacle Financial Partners stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $64.82, for a total transaction of $6,577,933.60. Following the completion of the transaction, the chief executive officer now directly owns 538,441 shares in the company, valued at $34,901,745.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $66.02, for a total transaction of $198,060.00. Following the transaction, the insider now owns 64,794 shares of the company’s stock, valued at $4,277,699.88. The disclosure for this sale can be found here. Insiders have sold 110,480 shares of company stock valued at $7,143,584 over the last quarter. Corporate insiders own 5.41% of the company’s stock.

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) remained flat at $64.30 during midday trading on Friday. The stock had a trading volume of 209,725 shares. The stock’s 50 day moving average price is $61.92 and its 200 day moving average price is $63.52. Pinnacle Financial Partners, Inc. has a one year low of $49.40 and a one year high of $71.85. The stock has a market cap of $4.95 billion, a PE ratio of 20.66 and a beta of 1.29.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. The firm had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $130.23 million. Pinnacle Financial Partners had a net margin of 27.36% and a return on equity of 7.67%. The business’s revenue was up 31.4% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. Analysts anticipate that Pinnacle Financial Partners, Inc. will post $3.47 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 4th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Wednesday, August 2nd. Pinnacle Financial Partners’s dividend payout ratio is currently 18.01%.

Several equities research analysts have commented on PNFP shares. BidaskClub raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Stephens reissued a “hold” rating and set a $71.00 price target on shares of Pinnacle Financial Partners in a research report on Thursday, July 20th. Finally, Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $67.00.

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Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

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Institutional Ownership by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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