Lisanti Capital Growth LLC Buys Shares of 11,570 Pinnacle Financial Partners, Inc. $PNFP

Lisanti Capital Growth LLC purchased a new position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,570 shares of the company’s stock, valued at approximately $1,104,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Profund Advisors LLC grew its holdings in Pinnacle Financial Partners by 4.6% during the 3rd quarter. Profund Advisors LLC now owns 2,895 shares of the company’s stock worth $272,000 after acquiring an additional 127 shares during the period. Diversified Trust Co. lifted its stake in shares of Pinnacle Financial Partners by 0.3% in the 4th quarter. Diversified Trust Co. now owns 54,349 shares of the company’s stock valued at $5,185,000 after purchasing an additional 137 shares during the period. Whittier Trust Co. boosted its position in shares of Pinnacle Financial Partners by 10.1% in the 4th quarter. Whittier Trust Co. now owns 1,521 shares of the company’s stock worth $145,000 after purchasing an additional 140 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Pinnacle Financial Partners by 3.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,097 shares of the company’s stock worth $486,000 after purchasing an additional 158 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC grew its stake in shares of Pinnacle Financial Partners by 1.3% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 12,850 shares of the company’s stock worth $1,226,000 after purchasing an additional 165 shares during the period. 87.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PNFP shares. Citigroup increased their target price on Pinnacle Financial Partners from $118.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Barclays cut their price target on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Robert W. Baird initiated coverage on shares of Pinnacle Financial Partners in a report on Tuesday. They set an “outperform” rating and a $115.00 price objective for the company. Stephens upped their target price on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Pinnacle Financial Partners from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Pinnacle Financial Partners has a consensus rating of “Moderate Buy” and a consensus price target of $115.18.

Pinnacle Financial Partners Trading Down 0.2%

PNFP stock opened at $97.12 on Friday. The business’s 50-day simple moving average is $91.84. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 0.37 and a beta of 1.06. Pinnacle Financial Partners, Inc. has a 1-year low of $81.08 and a 1-year high of $120.46.

Pinnacle Financial Partners (NYSE:PNFP) last posted its earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.09. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. On average, analysts forecast that Pinnacle Financial Partners, Inc. will post 10.34 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 1st will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, May 1st. This represents a $2.00 annualized dividend and a yield of 2.1%. Pinnacle Financial Partners’s payout ratio is currently 27.74%.

About Pinnacle Financial Partners

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.