Mediolanum International Funds Ltd Makes New Investment in Pinnacle Financial Partners, Inc. $PNFP

Mediolanum International Funds Ltd bought a new position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 43,448 shares of the company’s stock, valued at approximately $3,634,000. Mediolanum International Funds Ltd owned 0.06% of Pinnacle Financial Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new stake in Pinnacle Financial Partners during the third quarter worth about $26,000. High Point Wealth Management LLC bought a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at approximately $27,000. BOKF NA raised its position in shares of Pinnacle Financial Partners by 1,204.5% during the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the period. Activest Wealth Management bought a new stake in shares of Pinnacle Financial Partners in the 4th quarter worth approximately $28,000. Finally, CIBC Private Wealth Group LLC lifted its holdings 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.

Wall Street Analyst Weigh In

Several research firms have recently commented on PNFP. JPMorgan Chase & Co. upped their price target on shares of Pinnacle Financial Partners from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Barclays cut their price objective on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. UBS Group boosted their target price on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Robert W. Baird initiated coverage on shares of Pinnacle Financial Partners in a research report on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 target price for the company. Finally, Piper Sandler restated an “overweight” rating on shares of Pinnacle Financial Partners in a research note on Wednesday, June 10th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.89.

Pinnacle Financial Partners Price Performance

PNFP stock opened at $99.49 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 0.40 and a beta of 1.04. Pinnacle Financial Partners, Inc. has a 52-week low of $81.08 and a 52-week high of $119.68. The company’s 50 day moving average price is $97.58.

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

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.