2,307 Shares in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Acquired by Sapient Capital LLC

Sapient Capital LLC purchased a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 2,307 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other large investors also recently made changes to their positions in PNFP. Caprock Group LLC lifted its position in Pinnacle Financial Partners by 2.2% during the fourth quarter. Caprock Group LLC now owns 5,604 shares of the financial services provider’s stock worth $489,000 after buying an additional 122 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Pinnacle Financial Partners by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 33,040 shares of the financial services provider’s stock worth $2,215,000 after buying an additional 170 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Pinnacle Financial Partners by 57.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock valued at $37,000 after buying an additional 200 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Pinnacle Financial Partners by 101.4% during the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock valued at $28,000 after buying an additional 213 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in Pinnacle Financial Partners by 17.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,000 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Analysts Set New Price Targets

PNFP has been the topic of a number of recent research reports. Stephens reissued an “overweight” rating and set a $109.00 target price on shares of Pinnacle Financial Partners in a research report on Tuesday, April 23rd. Hovde Group lowered their target price on Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating for the company in a research note on Tuesday, April 23rd. Truist Financial reduced their price target on Pinnacle Financial Partners from $99.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Jefferies Financial Group cut their target price on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Finally, Barclays started coverage on shares of Pinnacle Financial Partners in a report on Friday, March 8th. They set an “equal weight” rating and a $93.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Pinnacle Financial Partners presently has a consensus rating of “Hold” and a consensus price target of $95.50.

Insider Activity at Pinnacle Financial Partners

In related news, Chairman Richard D. Callicutt II sold 11,030 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $906,886.60. Following the sale, the chairman now owns 97,226 shares of the company’s stock, valued at approximately $7,993,921.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Richard D. Callicutt II sold 11,030 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $906,886.60. Following the completion of the transaction, the chairman now owns 97,226 shares in the company, valued at approximately $7,993,921.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Robert A. Mccabe, Jr. sold 115,249 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $81.04, for a total transaction of $9,339,778.96. Following the completion of the sale, the chairman now directly owns 153,062 shares of the company’s stock, valued at $12,404,144.48. The disclosure for this sale can be found here. Insiders sold 235,093 shares of company stock worth $19,103,353 in the last 90 days. 1.87% of the stock is currently owned by company insiders.

Pinnacle Financial Partners Stock Performance

Shares of NASDAQ PNFP opened at $83.29 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $81.77 and its two-hundred day moving average price is $80.16. Pinnacle Financial Partners, Inc. has a 52-week low of $46.05 and a 52-week high of $92.33. The stock has a market capitalization of $6.42 billion, a P/E ratio of 11.92 and a beta of 1.09.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, May 2nd. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 12.59%.

Pinnacle Financial Partners 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.