Pinnacle Financial Partners, Inc. $PNFP Shares Purchased by WINTON GROUP Ltd

WINTON GROUP Ltd raised its holdings in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 9.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,864 shares of the company’s stock after purchasing an additional 6,299 shares during the quarter. WINTON GROUP Ltd owned 0.10% of Pinnacle Financial Partners worth $7,451,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Resources Management Corp CT ADV purchased a new stake in shares of Pinnacle Financial Partners in the first quarter valued at approximately $26,000. Brown Brothers Harriman & Co. purchased a new position in Pinnacle Financial Partners in the third quarter worth $26,000. BOKF NA raised its position in Pinnacle Financial Partners by 1,204.5% in the third quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after acquiring an additional 265 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Pinnacle Financial Partners by 97.7% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 350 shares of the company’s stock valued at $30,000 after acquiring an additional 173 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Pinnacle Financial Partners by 175.6% during 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 in the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Trading Down 1.5%

Shares of NYSE PNFP opened at $99.15 on Thursday. The firm has a market cap of $7.69 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 0.40 and a beta of 1.01. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $110.33. The company has a 50-day simple moving average of $102.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 0.94.

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

Pinnacle Financial Partners Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Pinnacle Financial Partners from $115.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. decreased their price objective on shares of Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, July 24th. Robert W. Baird began coverage on shares of Pinnacle Financial Partners in a research report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 target price on the stock. DA Davidson increased their target price on shares of Pinnacle Financial Partners from $109.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, TD Cowen boosted their price target on Pinnacle Financial Partners from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Pinnacle Financial Partners has a consensus rating of “Moderate Buy” and an average price target of $119.39.

Insider Activity at Pinnacle Financial Partners

In other news, CEO Kevin S. Blair bought 2,565 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, September 1st. The shares were bought at an average cost of $97.48 per share, for a total transaction of $250,036.20. Following the acquisition, the chief executive officer owned 152,397 shares in the company, valued at approximately $14,855,659.56. This trade represents a 1.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider M. Turner sold 54,107 shares of the firm’s stock in a transaction dated 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 sale, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 177,228 shares of company stock valued at $19,153,713 over the last quarter. Insiders own 1.30% of the company’s stock.

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.