VIRGINIA RETIREMENT SYSTEMS ET Al Has $1.17 Million Holdings in Pinnacle Financial Partners, Inc. $PNFP

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 240.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,250 shares of the company’s stock after purchasing an additional 8,650 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Pinnacle Financial Partners were worth $1,169,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Profund Advisors LLC grew its position in shares of Pinnacle Financial Partners by 4.6% in the third quarter. Profund Advisors LLC now owns 2,895 shares of the company’s stock valued at $272,000 after purchasing an additional 127 shares in the last quarter. Diversified Trust Co. lifted its holdings in Pinnacle Financial Partners by 0.3% during the 4th quarter. Diversified Trust Co. now owns 54,349 shares of the company’s stock worth $5,185,000 after purchasing an additional 137 shares in the last quarter. Whittier Trust Co. boosted its stake in Pinnacle Financial Partners by 10.1% in the 4th quarter. Whittier Trust Co. now owns 1,521 shares of the company’s stock worth $145,000 after purchasing an additional 140 shares during the period. Stephens Inc. AR boosted its stake in Pinnacle Financial Partners by 7.3% in the 3rd quarter. Stephens Inc. AR now owns 2,226 shares of the company’s stock worth $209,000 after purchasing an additional 152 shares during the period. Finally, Hunter Perkins Capital Management LLC grew its holdings in Pinnacle Financial Partners by 1.3% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 12,850 shares of the company’s stock valued at $1,226,000 after buying an additional 165 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Price Performance

Shares of NYSE:PNFP opened at $94.00 on Friday. The firm has a fifty day moving average price of $91.13. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. Pinnacle Financial Partners, Inc. has a one year low of $81.08 and a one year high of $120.46. The company has a market cap of $7.29 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 0.36 and a beta of 1.06.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.30 by $0.09. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Equities research analysts expect that Pinnacle Financial Partners, Inc. will post 10.34 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 1st will be given a dividend of $0.50 per share. The ex-dividend date is Friday, May 1st. This represents a $2.00 dividend on an annualized basis and a yield of 2.1%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 27.74%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup upped their price target on Pinnacle Financial Partners from $118.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Deutsche Bank Aktiengesellschaft set a $116.00 price objective on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Wednesday, January 21st. UBS Group upped their target price on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Raymond James Financial reiterated a “strong-buy” rating on shares of Pinnacle Financial Partners in a research note on Thursday, January 22nd. Finally, Piper Sandler increased their target price on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.19.

About Pinnacle Financial Partners

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.