Pinnacle Financial Partners, Inc. $PNFP Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 73.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 172,684 shares of the financial services provider’s stock after selling 479,878 shares during the quarter. JPMorgan Chase & Co.’s holdings in Pinnacle Financial Partners were worth $16,196,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Pinnacle Financial Partners by 97.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 47,073 shares of the financial services provider’s stock valued at $4,327,000 after buying an additional 23,292 shares during the period. Voya Investment Management LLC increased its position in shares of Pinnacle Financial Partners by 146.1% in the third quarter. Voya Investment Management LLC now owns 25,183 shares of the financial services provider’s stock worth $2,362,000 after acquiring an additional 14,951 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Pinnacle Financial Partners by 585.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 18,419 shares of the financial services provider’s stock valued at $1,768,000 after acquiring an additional 15,732 shares during the period. Woodmont Investment Counsel LLC lifted its holdings in shares of Pinnacle Financial Partners by 43.1% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 94,388 shares of the financial services provider’s stock valued at $8,853,000 after acquiring an additional 28,445 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its position in Pinnacle Financial Partners by 10.5% during the 2nd quarter. Advisors Capital Management LLC now owns 34,233 shares of the financial services provider’s stock worth $3,780,000 after purchasing an additional 3,252 shares during the period. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Trading Down 1.5%

NASDAQ:PNFP opened at $91.24 on Wednesday. Pinnacle Financial Partners, Inc. has a 52 week low of $81.57 and a 52 week high of $120.46. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. The company has a market cap of $7.08 billion, a PE ratio of 11.59, a P/E/G ratio of 0.48 and a beta of 1.03. The business’s 50 day moving average is $97.25 and its two-hundred day moving average is $94.46.

Pinnacle Financial Partners Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 6th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is currently 24.72%.

Insider Buying and Selling

In related news, CFO Andrew J. Jr. Gregory bought 1,000 shares of the stock in a transaction dated Thursday, February 12th. The stock was bought at an average cost of $94.52 per share, with a total value of $94,520.00. Following the completion of the acquisition, the chief financial officer owned 49,485 shares of the company’s stock, valued at $4,677,322.20. This trade represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on PNFP shares. UBS Group set a $106.00 price objective on Pinnacle Financial Partners in a research note on Wednesday, February 4th. Royal Bank Of Canada raised Pinnacle Financial Partners to a “moderate buy” rating in a research report on Monday, January 5th. Bank of America initiated coverage on shares of Pinnacle Financial Partners in a research report on Monday, December 8th. They issued a “buy” rating and a $113.00 price objective for the company. Citigroup lifted their price objective on shares of Pinnacle Financial Partners from $118.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, DA Davidson initiated coverage on shares of Pinnacle Financial Partners in a research note on Monday, January 5th. They issued a “neutral” rating and a $110.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.41.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.