Swedbank AB Takes Position in Pinnacle Financial Partners, Inc. $PNFP

Swedbank AB purchased a new position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 47,792 shares of the company’s stock, valued at approximately $4,117,000.

Other large investors have also bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new position in Pinnacle Financial Partners in the third quarter valued at approximately $26,000. High Point Wealth Management LLC bought a new stake in shares of Pinnacle Financial Partners during the 4th quarter valued at $27,000. BOKF NA lifted its stake in shares of Pinnacle Financial Partners by 1,204.5% in the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares during the period. Activest Wealth Management acquired a new position in shares of Pinnacle Financial Partners in the 4th quarter valued at $28,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Pinnacle Financial Partners by 175.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 339 shares of the company’s stock worth $32,000 after purchasing an additional 216 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Stock Up 0.1%

Shares of PNFP traded up $0.08 during trading hours on Friday, reaching $100.45. The stock had a trading volume of 591,479 shares, compared to its average volume of 1,264,027. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $119.98. The company’s 50-day moving average is $97.33. The company has a market cap of $7.79 billion, a P/E ratio of 13.93, a P/E/G ratio of 0.40 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.30 by $0.09. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. As a group, equities analysts expect that Pinnacle Financial Partners, Inc. will post 10.19 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders 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 dividend yield of 2.0%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 27.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PNFP shares. Benchmark began coverage on Pinnacle Financial Partners in a research note on Wednesday, June 24th. They set a “buy” rating and a $132.00 price objective for the company. Citigroup raised their target price on Pinnacle Financial Partners from $122.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Barclays decreased their target price 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 reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Pinnacle Financial Partners in a research note on Monday. Finally, Robert W. Baird started coverage on shares of Pinnacle Financial Partners in a research report on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $116.89.

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.