Wealth Enhancement Advisory Services LLC Has $9.03 Million Position in Pinnacle Financial Partners, Inc. $PNFP

Wealth Enhancement Advisory Services LLC lifted its holdings in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 96.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,374 shares of the company’s stock after buying an additional 45,301 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Pinnacle Financial Partners were worth $9,032,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PNFP. AQR Capital Management LLC lifted its stake in Pinnacle Financial Partners by 1,697.4% in the 3rd quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company’s stock worth $306,474,000 after acquiring an additional 3,085,867 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Pinnacle Financial Partners in the 3rd quarter valued at about $187,822,000. Norges Bank purchased a new stake in shares of Pinnacle Financial Partners in the second quarter worth approximately $113,461,000. Wellington Management Group LLP lifted its position in shares of Pinnacle Financial Partners by 51.1% in the third quarter. Wellington Management Group LLP now owns 2,156,749 shares of the company’s stock worth $202,281,000 after purchasing an additional 728,975 shares in the last quarter. Finally, Pentwater Capital Management LP acquired a new stake in shares of Pinnacle Financial Partners during the third quarter worth approximately $42,538,000. 87.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PNFP has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Thursday. Bank of America assumed coverage on shares of Pinnacle Financial Partners in a research note on Monday, December 8th. They set a “buy” rating and a $113.00 target price for the company. Evercore restated an “outperform” rating on shares of Pinnacle Financial Partners in a report on Thursday, February 5th. TD Cowen reaffirmed a “buy” rating on shares of Pinnacle Financial Partners in a research note on Wednesday, January 7th. Finally, UBS Group set a $106.00 price objective on Pinnacle Financial Partners in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $113.41.

Pinnacle Financial Partners Price Performance

Shares of NYSE PNFP opened at $82.94 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $120.46. The stock has a market cap of $6.43 billion, a PE ratio of 10.25, a P/E/G ratio of 0.38 and a beta of 1.02.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, February 27th. Stockholders 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%.

Insider Activity

In other news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average cost of $94.52 per share, with a total value of $94,520.00. Following the acquisition, the chief financial officer owned 49,485 shares in the company, valued at approximately $4,677,322.20. This represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.