Pinnacle Financial Partners, Inc. $PNFP Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 82,286.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,353 shares of the company’s stock after purchasing an additional 143,179 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Pinnacle Financial Partners were worth $13,633,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Pinnacle Financial Partners by 6.2% during the first quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock worth $69,060,000 after buying an additional 37,989 shares during the period. Focus Partners Wealth raised its holdings in shares of Pinnacle Financial Partners by 13.9% in the 1st quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock valued at $504,000 after buying an additional 581 shares during the period. Amundi raised its holdings in shares of Pinnacle Financial Partners by 25,700.0% in the 2nd quarter. Amundi now owns 4,386 shares of the company’s stock valued at $513,000 after buying an additional 4,369 shares during the period. Jump Financial LLC acquired a new position in Pinnacle Financial Partners during the 2nd quarter worth about $229,000. Finally, Cerity Partners LLC lifted its stake in Pinnacle Financial Partners by 4.2% during the 2nd quarter. Cerity Partners LLC now owns 26,061 shares of the company’s stock worth $2,877,000 after acquiring an additional 1,039 shares in the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the completion of the purchase, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at $4,677,322.20. The trade was a 2.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PNFP. TD Cowen dropped their target price on Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Evercore reissued an “outperform” rating and set a $115.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday, April 29th. Stephens raised their price objective 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. Deutsche Bank Aktiengesellschaft set a $116.00 price objective on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, UBS Group upped their target price on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $114.25.

Pinnacle Financial Partners Price Performance

PNFP opened at $97.99 on Monday. The business’s fifty day moving average is $90.44. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. Pinnacle Financial Partners, Inc. has a 12 month low of $81.08 and a 12 month high of $120.46. The firm has a market cap of $7.60 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 0.37 and a beta of 1.06.

Pinnacle Financial Partners (NYSE:PNFP) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.09. The company 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, research analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.33 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a $2.00 annualized dividend and a yield of 2.0%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 27.74%.

Pinnacle Financial Partners Profile

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.