4,000 Shares in Pinnacle Financial Partners (PNFP) Purchased by Hodges Capital Management Inc.

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Hodges Capital Management Inc. purchased a new position in shares of Pinnacle Financial Partners (NASDAQ:PNFP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,000 shares of the financial services provider’s stock, valued at approximately $219,000.

A number of other large investors have also recently added to or reduced their stakes in PNFP. Credit Suisse AG increased its position in shares of Pinnacle Financial Partners by 13.0% during the third quarter. Credit Suisse AG now owns 57,418 shares of the financial services provider’s stock worth $3,454,000 after acquiring an additional 6,603 shares during the period. Hsbc Holdings PLC increased its position in shares of Pinnacle Financial Partners by 21.4% during the third quarter. Hsbc Holdings PLC now owns 7,289 shares of the financial services provider’s stock worth $437,000 after acquiring an additional 1,285 shares during the period. Riverhead Capital Management LLC increased its position in shares of Pinnacle Financial Partners by 22.8% during the third quarter. Riverhead Capital Management LLC now owns 7,011 shares of the financial services provider’s stock worth $422,000 after acquiring an additional 1,300 shares during the period. Jane Street Group LLC purchased a new stake in shares of Pinnacle Financial Partners during the third quarter worth $748,000. Finally, Paloma Partners Management Co increased its position in shares of Pinnacle Financial Partners by 452.1% during the third quarter. Paloma Partners Management Co now owns 18,877 shares of the financial services provider’s stock worth $1,135,000 after acquiring an additional 15,458 shares during the period. Institutional investors own 81.55% of the company’s stock.

NASDAQ:PNFP opened at $57.27 on Wednesday. The firm has a market capitalization of $4.30 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 0.78 and a beta of 1.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. Pinnacle Financial Partners has a 12 month low of $43.23 and a 12 month high of $68.70.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.03. Pinnacle Financial Partners had a net margin of 30.80% and a return on equity of 9.63%. The company had revenue of $238.30 million during the quarter, compared to the consensus estimate of $246.03 million. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Pinnacle Financial Partners’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts predict that Pinnacle Financial Partners will post 5.09 EPS for the current fiscal year.

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 10,275 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $58.39, for a total value of $599,957.25. Following the completion of the transaction, the chairman now owns 363,779 shares in the company, valued at $21,241,055.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 1,600 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $58.55, for a total transaction of $93,680.00. Following the completion of the transaction, the insider now owns 24,775 shares of the company’s stock, valued at approximately $1,450,576.25. The disclosure for this sale can be found here. Insiders sold 42,588 shares of company stock valued at $2,479,247 in the last 90 days. 2.97% of the stock is currently owned by insiders.

PNFP has been the topic of a number of recent research reports. Stephens reaffirmed a “buy” rating and set a $60.00 price objective on shares of Pinnacle Financial Partners in a research report on Wednesday, December 19th. Wells Fargo & Co cut their price objective on Pinnacle Financial Partners from $72.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, January 3rd. Zacks Investment Research lowered Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Friday, January 4th. UBS Group raised Pinnacle Financial Partners from a “sell” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 8th. Finally, BidaskClub raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Friday, January 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $64.14.

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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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Want to see what other hedge funds are holding PNFP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle Financial Partners (NASDAQ:PNFP).

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

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