36,088 Shares in Pinnacle Financial Partners, Inc. $PNFP Bought by SEB Asset Management AB

SEB Asset Management AB purchased a new stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFPFree Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,088 shares of the company’s stock, valued at approximately $3,109,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNFP. Mediolanum International Funds Ltd purchased a new stake in Pinnacle Financial Partners during the 1st quarter valued at $3,634,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Pinnacle Financial Partners by 97.7% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 350 shares of the company’s stock valued at $30,000 after acquiring an additional 173 shares during the period. California Public Employees Retirement System raised its stake in shares of Pinnacle Financial Partners by 101.2% during the first quarter. California Public Employees Retirement System now owns 271,803 shares of the company’s stock valued at $23,413,000 after acquiring an additional 136,735 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Pinnacle Financial Partners during the first quarter valued at about $7,049,000. Finally, Evergreen Advisors LLC purchased a new stake in shares of Pinnacle Financial Partners during the first quarter worth about $138,000. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Stock Up 2.3%

Shares of PNFP stock opened at $99.63 on Friday. The business has a fifty day moving average price of $97.73. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $7.73 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.39 and a beta of 1.04. Pinnacle Financial Partners, Inc. has a twelve month low of $81.08 and a twelve month high of $107.14.

Pinnacle Financial Partners (NYSE:PNFPGet Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 12.42% and a net margin of 15.40%.The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. Equities research analysts expect that Pinnacle Financial Partners, Inc. will post 10.18 earnings per share for the current fiscal year.

More Pinnacle Financial Partners News

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Analyst Upgrades and Downgrades

Several analysts recently issued reports on PNFP shares. Truist Financial raised their target price on Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Stephens upped their price objective on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Weiss Ratings raised shares of Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Robert W. Baird started coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, May 19th. They set an “outperform” rating and a $115.00 target price on the stock. Finally, Barclays reduced their price target on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.89.

View Our Latest Research Report on Pinnacle Financial Partners

About Pinnacle Financial Partners

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Pinnacle Financial Partners (NYSE:PNFP)

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