9,075 Shares in Pinnacle Financial Partners, Inc. $PNFP Acquired by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC bought a new position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 9,075 shares of the company’s stock, valued at approximately $915,000.

Several other large investors have also recently bought and sold shares of PNFP. Resources Management Corp CT ADV bought a new position in shares of Pinnacle Financial Partners in the first quarter worth $26,000. Brown Brothers Harriman & Co. bought a new stake in Pinnacle Financial Partners during the third quarter valued at $26,000. BOKF NA boosted its stake in 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 buying an additional 265 shares during the period. Activest Wealth Management purchased a new position in Pinnacle Financial Partners during the fourth quarter worth about $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position in Pinnacle Financial Partners by 97.7% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 350 shares of the company’s stock worth $30,000 after buying an additional 173 shares in the last quarter. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Stock Up 0.1%

PNFP opened at $101.08 on Friday. The company has a fifty day moving average price of $102.11. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $110.33. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $7.84 billion, a PE ratio of 13.88, a PEG ratio of 0.40 and a beta of 1.03.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%.The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. As a group, equities analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.19 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 7th were given a $0.50 dividend. The ex-dividend date was Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. Pinnacle Financial Partners’s payout ratio is presently 27.47%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Piper Sandler raised their price target on Pinnacle Financial Partners from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Citigroup boosted their price objective on Pinnacle Financial Partners from $122.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Wells Fargo & Company upped their price objective on shares of Pinnacle Financial Partners from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Benchmark raised their target price on shares of Pinnacle Financial Partners from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Robert W. Baird began coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $118.35.

Insider Activity at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, insider Robert A. Mccabe, Jr. purchased 10,013 shares of Pinnacle Financial Partners stock in a transaction on Friday, July 24th. The shares were acquired at an average cost of $99.90 per share, for a total transaction of $1,000,298.70. Following the completion of the transaction, the insider directly owned 324,233 shares of the company’s stock, valued at approximately $32,390,876.70. The trade was a 3.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider M Terry Turner sold 54,107 shares of Pinnacle Financial Partners stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $108.13, for a total transaction of $5,850,589.91. Following the transaction, the insider directly owned 248,123 shares in the company, valued at $26,829,539.99. This trade represents a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 177,228 shares of company stock valued at $19,153,713. 1.30% of the stock is owned by insiders.

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.