Emerald Mutual Fund Advisers Trust Takes Position in Pinnacle Financial Partners, Inc. $PNFP

Emerald Mutual Fund Advisers Trust bought a new position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,343 shares of the company’s stock, valued at approximately $1,236,000.

Several other hedge funds and other institutional investors have also modified their holdings of PNFP. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Pinnacle Financial Partners by 1.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company’s stock valued at $704,000 after buying an additional 116 shares in the last quarter. Villanova Investment Management Co LLC grew its stake in Pinnacle Financial Partners by 0.4% during the 4th quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock valued at $2,720,000 after acquiring an additional 118 shares in the last quarter. Simplicity Wealth LLC grew its stake in Pinnacle Financial Partners by 1.5% during the 1st quarter. Simplicity Wealth LLC now owns 9,155 shares of the company’s stock valued at $789,000 after acquiring an additional 131 shares in the last quarter. Diversified Trust Co. increased its stake in 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 buying an additional 137 shares during the period. Finally, Whittier Trust Co. boosted its stake in shares of Pinnacle Financial Partners by 10.1% during the 4th quarter. Whittier Trust Co. now owns 1,521 shares of the company’s stock valued at $145,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PNFP. Wall Street Zen upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 12th. Benchmark initiated coverage on Pinnacle Financial Partners in a report on Wednesday, June 24th. They set a “buy” rating and a $132.00 price objective for the company. Barclays reduced their price objective on Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Evercore restated an “outperform” rating and issued a $120.00 target price on shares of Pinnacle Financial Partners in a research note on Monday, July 6th. Finally, Stephens upped their target price on Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.89.

Pinnacle Financial Partners Price Performance

Shares of NYSE:PNFP opened at $100.66 on Wednesday. The firm has a market capitalization of $7.81 billion, a PE ratio of 13.96, a P/E/G ratio of 0.40 and a beta of 1.04. The business has a 50-day moving average of $97.38. Pinnacle Financial Partners, Inc. has a fifty-two week low of $81.08 and a fifty-two week high of $119.85. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.09. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%.The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. As a group, research analysts expect that Pinnacle Financial Partners, Inc. will post 10.18 EPS for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 1st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. Pinnacle Financial Partners’s dividend payout ratio is presently 27.74%.

Pinnacle Financial Partners Company 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.