Deutsche Bank AG reduced its stake in Pinnacle Financial Partners (NASDAQ:PNFP) by 29.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,037 shares of the financial services provider’s stock after selling 50,533 shares during the period. Deutsche Bank AG owned about 0.15% of Pinnacle Financial Partners worth $7,890,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Weil Company Inc. acquired a new stake in shares of Pinnacle Financial Partners in the 4th quarter valued at approximately $796,000. JOYN Advisors Inc. acquired a new stake in shares of Pinnacle Financial Partners in the 4th quarter valued at approximately $640,000. Gillson Capital LP acquired a new stake in shares of Pinnacle Financial Partners in the 4th quarter valued at approximately $4,856,000. Profund Advisors LLC boosted its stake in shares of Pinnacle Financial Partners by 18.7% in the 4th quarter. Profund Advisors LLC now owns 11,066 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 1,745 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Pinnacle Financial Partners in the 4th quarter valued at approximately $1,094,000. Institutional investors own 72.14% of the company’s stock.
Shares of NASDAQ PNFP opened at $63.80 on Friday. The company has a market capitalization of $5,062.66, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 0.98 and a beta of 1.04. Pinnacle Financial Partners has a 1 year low of $58.40 and a 1 year high of $70.30. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.00 and a quick ratio of 0.99.
In related news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 27th. The shares were sold at an average price of $63.03, for a total value of $189,090.00. Following the completion of the transaction, the insider now owns 40,375 shares in the company, valued at approximately $2,544,836.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Hugh M. Queener sold 21,253 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $67.51, for a total transaction of $1,434,790.03. Following the transaction, the chief accounting officer now owns 235,471 shares of the company’s stock, valued at approximately $15,896,647.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,882 shares of company stock valued at $9,000,201. 3.39% of the stock is owned by company insiders.
A number of equities research analysts have recently weighed in on PNFP shares. Wells Fargo started coverage on shares of Pinnacle Financial Partners in a research note on Thursday, December 21st. They issued an “outperform” rating and a $80.00 price target on the stock. BidaskClub upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Wednesday, December 20th. UBS began coverage on shares of Pinnacle Financial Partners in a report on Wednesday, March 21st. They issued a “sell” rating and a $56.00 price objective for the company. Finally, Stephens upgraded shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $73.13.
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Pinnacle Financial Partners Profile
Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.
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