Stephens Inc. AR Purchases New Shares in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Stephens Inc. AR acquired a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFPGet Rating) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 11,774 shares of the financial services provider’s stock, valued at approximately $955,000.

A number of other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in Pinnacle Financial Partners by 2.6% in the 3rd quarter. Victory Capital Management Inc. now owns 782,853 shares of the financial services provider’s stock valued at $63,489,000 after acquiring an additional 19,500 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Pinnacle Financial Partners by 2.3% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 22,304 shares of the financial services provider’s stock valued at $1,809,000 after purchasing an additional 495 shares in the last quarter. Brinker Capital Investments LLC lifted its holdings in Pinnacle Financial Partners by 0.8% in the 3rd quarter. Brinker Capital Investments LLC now owns 38,647 shares of the financial services provider’s stock valued at $3,134,000 after purchasing an additional 316 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in Pinnacle Financial Partners in the 3rd quarter valued at about $4,200,000. Finally, Jennison Associates LLC lifted its holdings in Pinnacle Financial Partners by 27.2% in the 3rd quarter. Jennison Associates LLC now owns 997,576 shares of the financial services provider’s stock valued at $80,903,000 after purchasing an additional 213,504 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Pinnacle Financial Partners Trading Up 3.2 %

Shares of PNFP stock opened at $72.53 on Friday. Pinnacle Financial Partners, Inc. has a 1-year low of $67.86 and a 1-year high of $106.14. The firm’s 50-day simple moving average is $76.25 and its 200-day simple moving average is $79.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.87. The firm has a market cap of $5.55 billion, a P/E ratio of 10.10 and a beta of 1.08.

Pinnacle Financial Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Friday, February 3rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, February 2nd. This represents a $0.88 annualized dividend and a yield of 1.21%. Pinnacle Financial Partners’s payout ratio is 12.26%.

Insider Activity at Pinnacle Financial Partners

In related news, Director Gregory L. Burns sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $83.06, for a total value of $166,120.00. Following the transaction, the director now owns 22,518 shares in the company, valued at $1,870,345.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on PNFP. Raymond James lowered shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating in a report on Thursday, October 6th. Wells Fargo & Company reduced their target price on shares of Pinnacle Financial Partners from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, December 15th. StockNews.com lowered shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Friday. JPMorgan Chase & Co. cut their price objective on shares of Pinnacle Financial Partners from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, December 13th. Finally, Truist Financial cut their price objective on shares of Pinnacle Financial Partners from $96.00 to $90.00 in a report on Friday, December 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pinnacle Financial Partners has an average rating of “Hold” and an average price target of $85.57.

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.

Further Reading

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

Receive News & Ratings for Pinnacle Financial Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners and related companies with MarketBeat.com's FREE daily email newsletter.