Teachers Retirement System of The State of Kentucky Purchases 11,092 Shares of Pinnacle Financial Partners, Inc. $PNFP

Teachers Retirement System of The State of Kentucky increased its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 49.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,723 shares of the financial services provider’s stock after buying an additional 11,092 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Pinnacle Financial Partners were worth $3,163,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Pinnacle Financial Partners during the 2nd quarter worth $113,461,000. Balyasny Asset Management L.P. increased its stake in shares of Pinnacle Financial Partners by 1,036.4% in the second quarter. Balyasny Asset Management L.P. now owns 297,181 shares of the financial services provider’s stock worth $32,812,000 after purchasing an additional 271,029 shares during the period. Impax Asset Management Group plc lifted its position in shares of Pinnacle Financial Partners by 248.2% during the 3rd quarter. Impax Asset Management Group plc now owns 348,237 shares of the financial services provider’s stock worth $32,661,000 after purchasing an additional 248,237 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Pinnacle Financial Partners during the 2nd quarter worth about $20,932,000. Finally, Sei Investments Co. boosted its stake in Pinnacle Financial Partners by 82.7% during the 2nd quarter. Sei Investments Co. now owns 376,762 shares of the financial services provider’s stock valued at $41,598,000 after purchasing an additional 170,536 shares during the period. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PNFP has been the topic of several research analyst reports. Bank of America assumed coverage on shares of Pinnacle Financial Partners in a research note on Monday, December 8th. They issued a “buy” rating and a $113.00 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $116.00 price objective on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a report on Wednesday, January 21st. Barclays lifted their target price on Pinnacle Financial Partners from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Truist Financial set a $100.00 price objective on Pinnacle Financial Partners in a research report on Friday, January 9th. Finally, UBS Group set a $106.00 target price on Pinnacle Financial Partners in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $113.41.

Pinnacle Financial Partners Price Performance

NASDAQ:PNFP opened at $91.45 on Thursday. The firm has a market cap of $7.09 billion, a PE ratio of 11.62, a price-to-earnings-growth 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 $120.46. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $97.05 and its two-hundred day moving average price is $94.44.

Pinnacle Financial Partners Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 6th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 24.72%.

Insider Transactions at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was purchased at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the transaction, the chief financial officer owned 49,485 shares in the company, valued at $4,677,322.20. This trade represents a 2.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners 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.