Mount Yale Investment Advisors LLC Boosts Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Mount Yale Investment Advisors LLC boosted its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFPGet Rating) by 18.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,595 shares of the financial services provider’s stock after purchasing an additional 555 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Pinnacle Financial Partners were worth $343,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Horizon Financial Services LLC purchased a new stake in Pinnacle Financial Partners in the fourth quarter valued at approximately $35,000. First Horizon Advisors Inc. raised its holdings in shares of Pinnacle Financial Partners by 1,566.7% during the third quarter. First Horizon Advisors Inc. now owns 1,000 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 940 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Pinnacle Financial Partners during the third quarter worth about $56,000. Signaturefd LLC grew its position in Pinnacle Financial Partners by 88.9% in the 4th quarter. Signaturefd LLC now owns 905 shares of the financial services provider’s stock valued at $86,000 after buying an additional 426 shares in the last quarter. Finally, SouthState Corp acquired a new position in shares of Pinnacle Financial Partners during the 3rd quarter valued at $103,000. 81.12% of the stock is currently owned by institutional investors.

A number of brokerages have weighed in on PNFP. Zacks Investment Research raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research report on Wednesday, January 12th. Wells Fargo & Company reduced their target price on Pinnacle Financial Partners from $145.00 to $130.00 and set an “overweight” rating on the stock in a report on Monday, March 21st. StockNews.com started coverage on Pinnacle Financial Partners in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group began coverage on Pinnacle Financial Partners in a report on Thursday. They set a “hold” rating and a $100.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Pinnacle Financial Partners currently has an average rating of “Buy” and a consensus price target of $115.33.

In related news, CAO Hugh M. Queener sold 8,064 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $95.20, for a total value of $767,692.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory L. Burns sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 16th. The stock was sold at an average price of $102.00, for a total value of $306,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,546 shares of company stock valued at $1,911,763. 2.10% of the stock is owned by company insiders.

Shares of Pinnacle Financial Partners stock opened at $85.54 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.87 and a current ratio of 0.87. Pinnacle Financial Partners, Inc. has a 52 week low of $83.06 and a 52 week high of $111.31. The stock has a 50 day moving average price of $95.93 and a two-hundred day moving average price of $97.85. The stock has a market capitalization of $6.53 billion, a PE ratio of 12.65 and a beta of 1.16.

Pinnacle Financial Partners (NASDAQ:PNFPGet Rating) last announced its earnings results on Tuesday, January 18th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.14. The company had revenue of $339.49 million for the quarter, compared to analysts’ expectations of $330.15 million. Pinnacle Financial Partners had a return on equity of 10.69% and a net margin of 36.96%. During the same quarter in the previous year, the firm earned $1.58 earnings per share. Research analysts forecast that Pinnacle Financial Partners, Inc. will post 6.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 25th. Investors of record on Friday, February 4th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.03%. This is a boost from Pinnacle Financial Partners’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, February 3rd. Pinnacle Financial Partners’s payout ratio is presently 13.02%.

Pinnacle Financial Partners Profile (Get Rating)

Pinnacle Financial Partners, Inc is a bank holding company, which engages in the provision of financial solutions. It offers banking, investment, trust, mortgage, and insurance products and services designed for businesses and individuals. The company was founded by Dale W. Polley, M. Terry Turner, Sue G.

See Also

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

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