Pinnacle Financial Partners (NYSE:PNFP) Insider M Terry Turner Sells 53,601 Shares of Stock

Pinnacle Financial Partners, Inc. (NYSE:PNFP) insider M Terry Turner sold 53,601 shares of Pinnacle Financial Partners stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $108.10, for a total transaction of $5,794,268.10. Following the sale, the insider directly owned 369,013 shares of the company’s stock, valued at $39,890,305.30. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

M Terry Turner also recently made the following trade(s):

• On Monday, August 17th, M Terry Turner sold 54,107 shares of Pinnacle Financial Partners stock. The stock was sold at an average price of $108.13, for a total transaction of $5,850,589.91.
• On Friday, August 14th, M Terry Turner sold 66,783 shares of Pinnacle Financial Partners stock. The shares were sold at an average price of $108.01, for a total value of $7,213,231.83.
• On Thursday, August 6th, M Terry Turner sold 2,737 shares of Pinnacle Financial Partners stock. The shares were sold at an average price of $108.01, for a total value of $295,623.37.

Pinnacle Financial Partners Price Performance

PNFP stock traded down $0.61 during mid-day trading on Monday, hitting $107.40. 773,098 shares of the stock were exchanged, compared to its average volume of 1,444,139. The firm’s fifty day simple moving average is $100.77. Pinnacle Financial Partners, Inc. has a 12 month low of $81.08 and a 12 month high of $110.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market cap of $8.33 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 0.43 and a beta of 1.03.

Pinnacle Financial Partners (NYSE:PNFP) 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. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%. As a group, equities analysts forecast that Pinnacle Financial Partners, Inc. will post 10.19 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, August 7th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 27.47%.

Analyst Ratings Changes

PNFP has been the subject of a number of recent research reports. DA Davidson boosted their price objective on shares of Pinnacle Financial Partners from $109.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Robert W. Baird initiated coverage on shares of Pinnacle Financial Partners in a report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 target price on the stock. UBS Group lifted their target price on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Benchmark boosted their price target on shares of Pinnacle Financial Partners from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Citigroup upped their price target on shares of Pinnacle Financial Partners from $122.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.35.

Institutional Investors Weigh In On Pinnacle Financial Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Resources Management Corp CT ADV bought a new stake in Pinnacle Financial Partners in the 1st quarter worth $26,000. Brown Brothers Harriman & Co. purchased a new position in shares of Pinnacle Financial Partners in the third quarter valued at about $26,000. High Point Wealth Management LLC bought a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at about $27,000. BOKF NA raised its stake in shares of Pinnacle Financial Partners by 1,204.5% during the third quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after acquiring an additional 265 shares during the last quarter. Finally, Activest Wealth Management purchased a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth about $28,000. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Company 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.