Teachers Retirement System of The State of Kentucky Has $3.16 Million Holdings in Pinnacle Financial Partners, Inc. $PNFP

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 49.0% during the third quarter, Holdings Channel.com reports. The firm owned 33,723 shares of the financial services provider’s stock after buying an additional 11,092 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Pinnacle Financial Partners were worth $3,163,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Focus Partners Advisor Solutions LLC acquired a new position in Pinnacle Financial Partners during the 3rd quarter worth $1,051,000. 111 Capital bought a new stake in shares of Pinnacle Financial Partners during the third quarter worth $289,000. Journey Strategic Wealth LLC lifted its stake in shares of Pinnacle Financial Partners by 34.7% during the third quarter. Journey Strategic Wealth LLC now owns 2,624 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 676 shares during the period. EJF Capital LLC boosted its holdings in Pinnacle Financial Partners by 3.4% in the third quarter. EJF Capital LLC now owns 5,313 shares of the financial services provider’s stock valued at $498,000 after acquiring an additional 175 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its position in Pinnacle Financial Partners by 47.4% in the third quarter. Rafferty Asset Management LLC now owns 110,370 shares of the financial services provider’s stock worth $10,352,000 after purchasing an additional 35,470 shares during the period. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Price Performance

PNFP stock opened at $91.45 on Thursday. The stock has a 50-day moving average price of $97.05 and a two-hundred day moving average price of $94.44. The stock has a market cap of $7.09 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 0.48 and a beta of 1.02. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. Pinnacle Financial Partners, Inc. has a 1 year low of $81.57 and a 1 year high of $120.46.

Pinnacle Financial Partners Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were paid a $0.50 dividend. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s payout ratio is presently 24.72%.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the firm’s 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 purchase, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at $4,677,322.20. The trade was a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. DA Davidson started coverage on Pinnacle Financial Partners in a report on Monday, January 5th. They set a “neutral” rating and a $110.00 price objective for the company. Deutsche Bank Aktiengesellschaft set a $116.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Wednesday, January 21st. UBS Group set a $106.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, February 4th. Evercore reiterated an “outperform” rating on shares of Pinnacle Financial Partners in a research report on Thursday, February 5th. Finally, Bank of America initiated coverage on Pinnacle Financial Partners in a research note on Monday, December 8th. They issued a “buy” rating and a $113.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Pinnacle Financial Partners has a consensus rating of “Moderate Buy” and a consensus target price of $113.41.

Pinnacle Financial Partners Profile

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.