Pinnacle Financial Partners (PNFP) Director Sells $200,366.54 in Stock

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Pinnacle Financial Partners (NASDAQ:PNFP) Director Gregory L. Burns sold 3,454 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $58.01, for a total transaction of $200,366.54. Following the sale, the director now owns 28,804 shares of the company’s stock, valued at approximately $1,670,920.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

PNFP traded down $0.31 during midday trading on Friday, hitting $57.98. The company had a trading volume of 706,497 shares, compared to its average volume of 431,807. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $4.52 billion, a PE ratio of 12.23, a PEG ratio of 0.81 and a beta of 1.40. Pinnacle Financial Partners has a twelve month low of $43.23 and a twelve month high of $68.85.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, January 15th. The financial services provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.02. The firm had revenue of $247.50 million during the quarter, compared to analysts’ expectations of $246.73 million. Pinnacle Financial Partners had a net margin of 31.32% and a return on equity of 9.51%. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS. On average, research analysts predict that Pinnacle Financial Partners will post 5.06 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Shareholders of record on Friday, February 1st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.10%. The ex-dividend date was Thursday, January 31st. Pinnacle Financial Partners’s payout ratio is presently 13.50%.

A number of institutional investors and hedge funds have recently bought and sold shares of PNFP. First Trust Advisors LP grew its position in shares of Pinnacle Financial Partners by 5.7% during the 3rd quarter. First Trust Advisors LP now owns 152,280 shares of the financial services provider’s stock worth $9,160,000 after buying an additional 8,275 shares during the period. Wells Fargo & Company MN grew its position in shares of Pinnacle Financial Partners by 10.9% during the 3rd quarter. Wells Fargo & Company MN now owns 1,142,995 shares of the financial services provider’s stock worth $68,751,000 after buying an additional 112,670 shares during the period. SG Americas Securities LLC grew its position in shares of Pinnacle Financial Partners by 94.5% during the 3rd quarter. SG Americas Securities LLC now owns 69,233 shares of the financial services provider’s stock worth $4,164,000 after buying an additional 33,640 shares during the period. GW&K Investment Management LLC grew its position in shares of Pinnacle Financial Partners by 35.9% during the 3rd quarter. GW&K Investment Management LLC now owns 440,939 shares of the financial services provider’s stock worth $26,522,000 after buying an additional 116,366 shares during the period. Finally, LaSalle Street Capital Management LLC acquired a new stake in shares of Pinnacle Financial Partners during the 3rd quarter worth approximately $386,000. Hedge funds and other institutional investors own 80.64% of the company’s stock.

A number of brokerages recently issued reports on PNFP. BidaskClub cut shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. TheStreet upgraded shares of Pinnacle Financial Partners from a “c+” rating to a “b-” rating in a research report on Wednesday, February 13th. Zacks Investment Research cut shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Friday, January 18th. Wells Fargo & Co set a $62.00 price objective on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Wednesday, January 16th. Finally, UBS Group upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “neutral” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Pinnacle Financial Partners currently has a consensus rating of “Hold” and a consensus price target of $64.86.

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About Pinnacle Financial Partners

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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