M Holdings Securities Inc. Has $3.91 Million Holdings in Pinnacle Financial Partners, Inc. $PNFP

M Holdings Securities Inc. decreased its position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 25.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,533 shares of the company’s stock after selling 13,623 shares during the period. M Holdings Securities Inc.’s holdings in Pinnacle Financial Partners were worth $3,906,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Pinnacle Financial Partners during the 2nd quarter worth about $1,704,708,000. Wellington Management Group LLP lifted its holdings in shares of Pinnacle Financial Partners by 22.1% during the second quarter. Wellington Management Group LLP now owns 11,141,397 shares of the company’s stock worth $1,123,944,000 after buying an additional 2,016,827 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Pinnacle Financial Partners by 63.1% in the fourth quarter. AQR Capital Management LLC now owns 5,330,170 shares of the company’s stock valued at $508,551,000 after acquiring an additional 2,062,504 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Pinnacle Financial Partners by 80.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,035,295 shares of the company’s stock worth $433,712,000 after acquiring an additional 2,244,659 shares during the last quarter. Finally, State Street Corp increased its position in Pinnacle Financial Partners by 5.5% during the fourth quarter. State Street Corp now owns 3,451,939 shares of the company’s stock worth $329,350,000 after acquiring an additional 179,819 shares during the period. 87.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, insider M Terry Turner sold 54,107 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $108.13, for a total transaction of $5,850,589.91. Following the completion of the transaction, the insider directly owned 248,123 shares in the company, valued at $26,829,539.99. This represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert A. Mccabe, Jr. bought 10,013 shares of Pinnacle Financial Partners stock in a transaction dated Friday, July 24th. The stock was purchased at an average price of $99.90 per share, for a total transaction of $1,000,298.70. Following the purchase, the insider directly owned 324,233 shares in the company, valued at $32,390,876.70. This represents a 3.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 177,228 shares of company stock worth $19,153,713 over the last quarter. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

PNFP has been the subject of several research analyst reports. TD Cowen upped their target price on shares of Pinnacle Financial Partners from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Piper Sandler boosted their price objective on shares of Pinnacle Financial Partners from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Truist Financial upped their price objective on shares of Pinnacle Financial Partners from $115.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Citigroup lifted their target price on Pinnacle Financial Partners from $122.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Finally, Stephens set a $112.00 price target on Pinnacle Financial Partners in a report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Pinnacle Financial Partners has a consensus rating of “Moderate Buy” and an average price target of $118.35.

Pinnacle Financial Partners Stock Down 0.0%

NYSE:PNFP opened at $101.08 on Monday. Pinnacle Financial Partners, Inc. has a 12-month low of $81.08 and a 12-month high of $110.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.40 and a beta of 1.03. The business has a 50-day simple moving average of $102.11.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%.The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. On average, research analysts expect that Pinnacle Financial Partners, Inc. will post 10.19 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 7th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 2.0%. Pinnacle Financial Partners’s payout ratio is currently 27.47%.

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.