Pinnacle Financial Partners, Inc. $PNFP Shares Purchased by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL boosted its stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 984.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,120 shares of the company’s stock after buying an additional 149,895 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.21% of Pinnacle Financial Partners worth $15,487,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of Pinnacle Financial Partners by 6.2% in the first quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock valued at $69,060,000 after acquiring an additional 37,989 shares in the last quarter. Focus Partners Wealth increased its position in shares of Pinnacle Financial Partners by 13.9% during the first quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock worth $504,000 after purchasing an additional 581 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Pinnacle Financial Partners by 6.2% during the second quarter. PNC Financial Services Group Inc. now owns 6,991 shares of the company’s stock worth $772,000 after purchasing an additional 410 shares in the last quarter. Creative Planning raised its stake in Pinnacle Financial Partners by 23.0% in the 2nd quarter. Creative Planning now owns 27,140 shares of the company’s stock valued at $2,996,000 after purchasing an additional 5,079 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in Pinnacle Financial Partners by 3.3% in the 2nd quarter. Cetera Investment Advisers now owns 17,271 shares of the company’s stock valued at $1,907,000 after purchasing an additional 546 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Wednesday. Raymond James Financial reiterated a “strong-buy” rating on shares of Pinnacle Financial Partners in a research report on Thursday, January 22nd. Piper Sandler raised their price target on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Truist Financial set a $100.00 price target on shares of Pinnacle Financial Partners in a research report on Friday, January 9th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Pinnacle Financial Partners in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.41.

Pinnacle Financial Partners Stock Up 0.4%

Shares of PNFP opened at $83.24 on Friday. Pinnacle Financial Partners, Inc. has a 52-week low of $81.08 and a 52-week high of $120.46. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 0.38 and a beta of 1.02.

Pinnacle Financial Partners Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 6th were given a dividend of $0.50 per share. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 24.72%.

Insider Buying and Selling

In other news, CFO Andrew J. Jr. Gregory bought 1,000 shares of Pinnacle Financial Partners stock in a transaction on Thursday, February 12th. The shares were bought at an average cost of $94.52 per share, with a total value 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 approximately $4,677,322.20. This trade represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.46% of the stock is owned by company insiders.

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.