Orion Portfolio Solutions LLC Sells 3,913 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Orion Portfolio Solutions LLC reduced its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 6.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,255 shares of the financial services provider’s stock after selling 3,913 shares during the quarter. Orion Portfolio Solutions LLC owned approximately 0.07% of Pinnacle Financial Partners worth $4,967,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in shares of Pinnacle Financial Partners by 3,541.2% in the third quarter. Nisa Investment Advisors LLC now owns 3,095 shares of the financial services provider’s stock valued at $207,000 after acquiring an additional 3,010 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Pinnacle Financial Partners by 57.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Signaturefd LLC raised its stake in shares of Pinnacle Financial Partners by 6.9% during the 3rd quarter. Signaturefd LLC now owns 4,841 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 314 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Pinnacle Financial Partners by 24.1% in the 3rd quarter. Victory Capital Management Inc. now owns 169,843 shares of the financial services provider’s stock valued at $11,386,000 after buying an additional 32,960 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Pinnacle Financial Partners in the third quarter valued at $8,033,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Truist Financial dropped their price target on shares of Pinnacle Financial Partners from $99.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. cut their price objective on Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Stephens decreased their target price on Pinnacle Financial Partners from $109.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday. Hovde Group cut their price target on Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating for the company in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group lowered their price target on shares of Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $94.63.

Insider Activity at Pinnacle Financial Partners

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 value of $518,479.32. Following the sale, the chief financial officer now owns 63,856 shares in the company, valued at $5,250,240.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO M Terry Turner sold 24,057 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 value of $1,977,966.54. Following the completion of the transaction, the chief executive officer now owns 294,790 shares in the company, valued at approximately $24,237,633.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Harold R. Carpenter sold 6,306 shares of Pinnacle Financial Partners 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 $518,479.32. Following the sale, the chief financial officer now owns 63,856 shares in the company, valued at $5,250,240.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 235,093 shares of company stock valued at $19,103,353. 1.87% of the stock is owned by insiders.

Pinnacle Financial Partners Stock Up 0.7 %

Shares of NASDAQ PNFP opened at $79.38 on Monday. The stock’s fifty day moving average is $81.86 and its 200 day moving average is $81.89. The stock has a market capitalization of $6.13 billion, a P/E ratio of 11.36 and a beta of 1.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. Pinnacle Financial Partners, Inc. has a 52 week low of $47.61 and a 52 week high of $92.33.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Monday, April 22nd. The financial services provider reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.01. Pinnacle Financial Partners had a return on equity of 9.31% and a net margin of 18.59%. The firm had revenue of $428.14 million for the quarter, compared to the consensus estimate of $413.27 million. Sell-side analysts forecast that Pinnacle Financial Partners, Inc. will post 6.72 earnings per share for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 3rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.11%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 12.59%.

About Pinnacle Financial Partners

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.