Jones Financial Companies Lllp Purchases 15,732 Shares of Pinnacle Financial Partners, Inc. $PNFP

Jones Financial Companies Lllp increased its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 585.5% in the third quarter, Holdings Channel.com reports. The firm owned 18,419 shares of the financial services provider’s stock after purchasing an additional 15,732 shares during the quarter. Jones Financial Companies Lllp’s holdings in Pinnacle Financial Partners were worth $1,768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNFP. AlphaQuest LLC boosted its position in shares of Pinnacle Financial Partners by 71.8% during the third quarter. AlphaQuest LLC now owns 6,492 shares of the financial services provider’s stock valued at $609,000 after buying an additional 2,714 shares during the period. Arizona State Retirement System lifted its stake in shares of Pinnacle Financial Partners by 1.7% during the 3rd quarter. Arizona State Retirement System now owns 22,936 shares of the financial services provider’s stock worth $2,151,000 after acquiring an additional 391 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in Pinnacle Financial Partners during the 3rd quarter valued at $1,970,000. AGP Franklin LLC grew its position in Pinnacle Financial Partners by 99.9% in the 3rd quarter. AGP Franklin LLC now owns 43,106 shares of the financial services provider’s stock valued at $4,043,000 after acquiring an additional 21,542 shares during the last quarter. Finally, Riverwater Partners LLC grew its position in Pinnacle Financial Partners by 3.4% in the 3rd quarter. Riverwater Partners LLC now owns 11,120 shares of the financial services provider’s stock valued at $1,043,000 after acquiring an additional 365 shares during the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Stock Performance

PNFP stock opened at $101.40 on Tuesday. Pinnacle Financial Partners, Inc. has a one year low of $81.57 and a one year high of $124.08. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a 50-day simple moving average of $98.07 and a two-hundred day simple moving average of $93.82.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 6th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, February 6th. Pinnacle Financial Partners’s payout ratio is currently 24.72%.

Insider Activity

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total transaction of $630,075.00. Following the transaction, the chairman directly owned 202,505 shares of the company’s stock, valued at approximately $18,832,965. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.46% of the company’s stock.

Wall Street Analyst Weigh In

PNFP has been the subject of a number of recent analyst reports. Piper Sandler boosted their target price on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Stephens lowered their price objective on shares of Pinnacle Financial Partners from $104.00 to $97.00 and set an “equal weight” rating for the company in a research report on Friday, October 17th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Pinnacle Financial Partners in a research report on Thursday, January 22nd. Royal Bank Of Canada raised Pinnacle Financial Partners to a “moderate buy” rating in a research report on Monday, January 5th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Pinnacle Financial Partners in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.41.

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.