Pinnacle Financial Partners Inc Decreases Stock Position in Pinnacle Financial Partners, Inc. $PNFP

Pinnacle Financial Partners Inc decreased its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 0.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 668,091 shares of the financial services provider’s stock after selling 5,357 shares during the period. Pinnacle Financial Partners makes up approximately 1.5% of Pinnacle Financial Partners Inc’s investment portfolio, making the stock its 12th largest holding. Pinnacle Financial Partners Inc owned 0.86% of Pinnacle Financial Partners worth $62,660,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elevation Point Wealth Partners LLC acquired a new stake in Pinnacle Financial Partners in the 2nd quarter worth approximately $38,000. Quent Capital LLC purchased a new position in shares of Pinnacle Financial Partners in the third quarter worth $34,000. MAI Capital Management raised its holdings in shares of Pinnacle Financial Partners by 79.4% in the second quarter. MAI Capital Management now owns 366 shares of the financial services provider’s stock worth $40,000 after buying an additional 162 shares during the last quarter. Spurstone Advisory Services LLC acquired a new stake in shares of Pinnacle Financial Partners during the second quarter worth $41,000. Finally, Eastern Bank purchased a new stake in shares of Pinnacle Financial Partners during the third quarter valued at $37,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total transaction of $630,075.00. Following the completion of the transaction, the chairman directly owned 202,505 shares in the company, valued at approximately $18,832,965. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director G Kennedy Thompson acquired 5,000 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were bought at an average cost of $87.63 per share, for a total transaction of $438,150.00. Following the completion of the acquisition, the director owned 33,372 shares of the company’s stock, valued at approximately $2,924,388.36. This represents a 17.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Pinnacle Financial Partners in a research note on Monday, December 29th. DA Davidson started coverage on Pinnacle Financial Partners in a research note on Monday, January 5th. They issued a “neutral” rating and a $110.00 price objective for the company. Piper Sandler upgraded Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and upped their target price for the company from $117.00 to $120.00 in a research report on Monday, January 5th. Cowen reiterated a “buy” rating on shares of Pinnacle Financial Partners in a report on Wednesday, January 7th. Finally, Evercore ISI started coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, January 6th. They set an “outperform” rating and a $115.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.00.

Pinnacle Financial Partners Trading Up 0.8%

Pinnacle Financial Partners stock opened at $98.44 on Friday. The firm has a market cap of $7.64 billion, a PE ratio of 12.51, a P/E/G ratio of 0.48 and a beta of 1.02. Pinnacle Financial Partners, Inc. has a 12 month low of $81.57 and a 12 month high of $127.85. The stock’s 50 day simple moving average is $95.20 and its two-hundred day simple moving average is $96.09. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.22. Pinnacle Financial Partners had a net margin of 19.17% and a return on equity of 9.91%. The firm had revenue of $544.80 million during the quarter, compared to analyst estimates of $526.40 million. During the same period in the previous year, the firm earned $1.86 EPS. Analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 7th were given a $0.24 dividend. The ex-dividend date was Friday, November 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. Pinnacle Financial Partners’s dividend payout ratio is 12.20%.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.