CapWealth Advisors LLC Invests $203,000 in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

CapWealth Advisors LLC acquired a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,329 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently added to or reduced their stakes in PNFP. Wellington Management Group LLP boosted its holdings in Pinnacle Financial Partners by 102.7% during the third quarter. Wellington Management Group LLP now owns 1,870,441 shares of the financial services provider’s stock worth $125,394,000 after buying an additional 947,704 shares in the last quarter. Norges Bank purchased a new stake in Pinnacle Financial Partners during the fourth quarter worth about $61,723,000. State Street Corp boosted its holdings in Pinnacle Financial Partners by 17.4% during the first quarter. State Street Corp now owns 3,471,580 shares of the financial services provider’s stock worth $191,492,000 after buying an additional 514,970 shares in the last quarter. Walleye Capital LLC purchased a new stake in Pinnacle Financial Partners during the second quarter worth about $16,750,000. Finally, BlackRock Inc. boosted its holdings in Pinnacle Financial Partners by 4.1% during the first quarter. BlackRock Inc. now owns 7,404,875 shares of the financial services provider’s stock worth $408,453,000 after buying an additional 289,963 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $87.43, for a total transaction of $553,519.33. Following the completion of the transaction, the chairman now owns 202,699 shares of the company’s stock, valued at $17,721,973.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $87.43, for a total transaction of $553,519.33. Following the completion of the transaction, the chairman now owns 202,699 shares of the company’s stock, valued at $17,721,973.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Harold R. Carpenter sold 6,306 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $518,479.32. Following the transaction, the chief financial officer now directly owns 63,856 shares of the company’s stock, valued at approximately $5,250,240.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,175 shares of company stock valued at $4,487,253. Insiders own 1.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. UBS Group decreased their price objective on shares of Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, January 18th. Stephens reaffirmed an “overweight” rating and issued a $108.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, January 17th. Truist Financial upped their price target on shares of Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a “buy” rating in a report on Monday, April 1st. Barclays began coverage on shares of Pinnacle Financial Partners in a report on Friday, March 8th. They issued an “equal weight” rating and a $93.00 price target on the stock. Finally, Jefferies Financial Group reduced their price target on shares of Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $92.57.

Pinnacle Financial Partners Trading Up 0.5 %

Shares of NASDAQ:PNFP traded up $0.41 during trading on Thursday, reaching $78.74. The stock had a trading volume of 180,763 shares, compared to its average volume of 442,131. The business has a fifty day moving average price of $82.45 and a 200-day moving average price of $78.64. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.44. The stock has a market cap of $6.07 billion, a P/E ratio of 10.91 and a beta of 1.08. Pinnacle Financial Partners, Inc. has a fifty-two week low of $43.31 and a fifty-two week high of $92.33.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.01. The business had revenue of $396.34 million during the quarter, compared to analyst estimates of $416.97 million. Pinnacle Financial Partners had a net margin of 20.17% and a return on equity of 9.78%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.76 earnings per share. As a group, analysts anticipate that Pinnacle Financial Partners, Inc. will post 6.83 earnings per share for the current fiscal year.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.