Pinnacle Financial Partners Inc Decreases Stock Holdings in Pinnacle Financial Partners, Inc. $PNFP

Pinnacle Financial Partners Inc cut its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 0.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 668,091 shares of the financial services provider’s stock after selling 5,357 shares during the period. Pinnacle Financial Partners makes up about 1.5% of Pinnacle Financial Partners Inc’s holdings, making the stock its 12th largest holding. Pinnacle Financial Partners Inc’s holdings in Pinnacle Financial Partners were worth $62,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNFP. Fenimore Asset Management Inc grew its holdings in Pinnacle Financial Partners by 2.2% in the 2nd quarter. Fenimore Asset Management Inc now owns 1,076,968 shares of the financial services provider’s stock valued at $118,908,000 after buying an additional 23,552 shares in the last quarter. Norges Bank purchased a new stake in Pinnacle Financial Partners in the second quarter valued at $113,461,000. The Manufacturers Life Insurance Company lifted its stake in shares of Pinnacle Financial Partners by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,010,422 shares of the financial services provider’s stock valued at $111,561,000 after purchasing an additional 31,858 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Pinnacle Financial Partners by 6.7% during the 2nd quarter. Jennison Associates LLC now owns 686,744 shares of the financial services provider’s stock worth $75,823,000 after purchasing an additional 43,162 shares during the period. Finally, Channing Capital Management LLC increased its position in shares of Pinnacle Financial Partners by 1.8% during the 2nd quarter. Channing Capital Management LLC now owns 671,556 shares of the financial services provider’s stock worth $74,146,000 after purchasing an additional 12,162 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Insider Transactions at Pinnacle Financial Partners

In related news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total transaction of $630,075.00. Following the sale, the chairman directly owned 202,505 shares in the company, valued at approximately $18,832,965. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Kennedy Thompson bought 5,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Monday, October 20th. The stock was purchased at an average cost of $87.63 per share, for a total transaction of $438,150.00. Following the acquisition, the director owned 33,372 shares of the company’s stock, valued at $2,924,388.36. This represents a 17.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PNFP. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pinnacle Financial Partners in a research report on Monday, December 29th. DA Davidson began coverage on shares of Pinnacle Financial Partners in a research note on Monday, January 5th. They issued a “neutral” rating and a $110.00 price target on the stock. Truist Financial set a $100.00 price objective on shares of Pinnacle Financial Partners in a report on Friday, January 9th. Wells Fargo & Company decreased their price target on Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, October 17th. Finally, TD Cowen raised their price target on Pinnacle Financial Partners from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.00.

Pinnacle Financial Partners Price Performance

Pinnacle Financial Partners stock opened at $98.44 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. Pinnacle Financial Partners, Inc. has a 52-week low of $81.57 and a 52-week high of $127.85. The firm has a market cap of $7.64 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 0.48 and a beta of 1.02. The company’s 50 day moving average is $95.20 and its two-hundred day moving average is $96.09.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.22. The business had revenue of $544.80 million for the quarter, compared to analyst estimates of $526.40 million. Pinnacle Financial Partners had a return on equity of 9.91% and a net margin of 19.17%.During the same quarter in the prior year, the company earned $1.86 earnings per share. On average, research analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 7th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, November 7th. This represents a $0.96 annualized dividend and a yield of 1.0%. Pinnacle Financial Partners’s dividend payout ratio is 12.20%.

About Pinnacle Financial Partners

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.