Pinnacle Financial Partners (NASDAQ:PNFP) CFO Harold R. Carpenter sold 10,075 shares of Pinnacle Financial Partners stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $57.75, for a total transaction of $581,831.25. Following the transaction, the chief financial officer now owns 86,423 shares of the company’s stock, valued at $4,990,928.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of PNFP opened at $57.98 on Friday. The company has a market cap of $4.50 billion, a P/E ratio of 12.23, a PEG ratio of 0.81 and a beta of 1.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. Pinnacle Financial Partners has a twelve month low of $43.23 and a twelve month high of $68.85.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, January 15th. The financial services provider reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.02. The company had revenue of $247.50 million during the quarter, compared to the consensus estimate of $246.73 million. Pinnacle Financial Partners had a net margin of 31.32% and a return on equity of 9.51%. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. On average, sell-side analysts anticipate that Pinnacle Financial Partners will post 5.06 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Friday, February 1st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Thursday, January 31st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 13.50%.

Several equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. TheStreet upgraded shares of Pinnacle Financial Partners from a “c+” rating to a “b-” rating in a report on Wednesday, February 13th. ValuEngine upgraded shares of Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a report on Monday, November 26th. Zacks Investment Research lowered shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Friday, January 18th. Finally, Wells Fargo & Co set a $62.00 target price on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a report on Wednesday, January 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Pinnacle Financial Partners has an average rating of “Hold” and an average target price of $64.86.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sowell Financial Services LLC increased its position in shares of Pinnacle Financial Partners by 2.8% during the fourth quarter. Sowell Financial Services LLC now owns 12,945 shares of the financial services provider’s stock valued at $597,000 after acquiring an additional 348 shares in the last quarter. American International Group Inc. increased its position in shares of Pinnacle Financial Partners by 0.3% during the fourth quarter. American International Group Inc. now owns 149,462 shares of the financial services provider’s stock valued at $6,890,000 after acquiring an additional 422 shares in the last quarter. Patten & Patten Inc. TN increased its position in shares of Pinnacle Financial Partners by 1.2% during the fourth quarter. Patten & Patten Inc. TN now owns 37,266 shares of the financial services provider’s stock valued at $1,718,000 after acquiring an additional 427 shares in the last quarter. Advisor Group Inc. increased its position in shares of Pinnacle Financial Partners by 12.8% during the fourth quarter. Advisor Group Inc. now owns 3,852 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 437 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in shares of Pinnacle Financial Partners by 7.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 7,571 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 540 shares in the last quarter. 80.64% of the stock is owned by institutional investors.

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About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.

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