New York State Common Retirement Fund raised its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP – Free Report) by 1.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 595,168 shares of the financial services provider’s stock after purchasing an additional 7,178 shares during the period. New York State Common Retirement Fund’s holdings in Pinnacle Financial Partners were worth $51,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Red Door Wealth Management LLC acquired a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at $214,000. Peregrine Capital Management LLC boosted its stake in shares of Pinnacle Financial Partners by 1,239.7% in the 3rd quarter. Peregrine Capital Management LLC now owns 158,900 shares of the financial services provider’s stock valued at $10,653,000 after purchasing an additional 147,039 shares in the last quarter. Hunter Perkins Capital Management LLC boosted its stake in shares of Pinnacle Financial Partners by 6.0% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 9,595 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 545 shares in the last quarter. Covenant Partners LLC boosted its stake in shares of Pinnacle Financial Partners by 3.2% in the 3rd quarter. Covenant Partners LLC now owns 10,550 shares of the financial services provider’s stock valued at $707,000 after purchasing an additional 330 shares in the last quarter. Finally, Bfsg LLC acquired a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at $277,000. Institutional investors own 87.40% of the company’s stock.
Pinnacle Financial Partners Stock Down 0.1 %
Shares of NASDAQ PNFP opened at $81.34 on Wednesday. The firm has a market capitalization of $6.27 billion, a PE ratio of 11.64 and a beta of 1.08. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.44. Pinnacle Financial Partners, Inc. has a 1 year low of $43.31 and a 1 year high of $92.33. The firm’s 50-day moving average is $82.34 and its 200-day moving average is $79.15.
Analyst Ratings Changes
Get Our Latest Stock Analysis on PNFP
Insider Activity
In related news, CFO Harold R. Carpenter sold 6,306 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $518,479.32. Following the sale, the chief financial officer now directly owns 63,856 shares in the company, valued at approximately $5,250,240.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 6,306 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total transaction of $518,479.32. Following the sale, the chief financial officer now directly owns 63,856 shares in the company, valued at approximately $5,250,240.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO M Terry Turner sold 24,057 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $1,977,966.54. Following the sale, the chief executive officer now owns 294,790 shares in the company, valued at $24,237,633.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,844 shares of company stock valued at $3,933,734. 1.87% of the stock is currently owned by insiders.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.
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