Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. increased its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFPFree Report) by 79.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,539 shares of the financial services provider’s stock after purchasing an additional 5,106 shares during the period. Pacer Advisors Inc.’s holdings in Pinnacle Financial Partners were worth $1,006,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in PNFP. Thrivent Financial for Lutherans boosted its holdings in shares of Pinnacle Financial Partners by 0.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 20,040 shares of the financial services provider’s stock worth $1,449,000 after purchasing an additional 145 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Pinnacle Financial Partners by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 33,040 shares of the financial services provider’s stock worth $2,215,000 after purchasing an additional 170 shares during the period. Advisors Asset Management Inc. boosted its stake in Pinnacle Financial Partners by 1.9% during the fourth quarter. Advisors Asset Management Inc. now owns 9,228 shares of the financial services provider’s stock worth $677,000 after buying an additional 174 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Pinnacle Financial Partners by 57.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 200 shares during the last quarter. Finally, Patten Group Inc. raised its holdings in shares of Pinnacle Financial Partners by 1.0% in the 3rd quarter. Patten Group Inc. now owns 20,973 shares of the financial services provider’s stock valued at $1,406,000 after buying an additional 212 shares during the period. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Price Performance

PNFP opened at $81.96 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $6.32 billion, a PE ratio of 11.42 and a beta of 1.08. The company’s 50 day simple moving average is $83.63 and its 200 day simple moving average is $77.57. Pinnacle Financial Partners, Inc. has a 1 year low of $43.31 and a 1 year high of $92.33.

Pinnacle Financial Partners (NASDAQ:PNFPGet Free Report) last posted its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.67 by $0.01. Pinnacle Financial Partners had a net margin of 20.17% and a return on equity of 9.78%. The firm had revenue of $396.34 million for the quarter, compared to analyst estimates of $416.97 million. During the same quarter last year, the firm posted $1.76 earnings per share. Pinnacle Financial Partners’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 6.82 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 2nd were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, February 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 12.26%.

Insider Transactions at Pinnacle Financial Partners

In other news, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $87.43, for a total transaction of $553,519.33. Following the sale, the chairman now directly owns 202,699 shares of the company’s stock, valued at $17,721,973.57. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO M Terry Turner sold 24,057 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total transaction of $1,977,966.54. Following the sale, the chief executive officer now owns 294,790 shares in the company, valued at $24,237,633.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $87.43, for a total value of $553,519.33. Following the transaction, the chairman now owns 202,699 shares of the company’s stock, valued at $17,721,973.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,175 shares of company stock valued at $4,487,253. Corporate insiders own 1.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PNFP. UBS Group dropped their price target on shares of Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, January 18th. Stephens restated an “overweight” rating and issued a $108.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday, January 17th. Truist Financial boosted their target price on Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a “buy” rating in a report on Monday. Finally, Barclays started coverage on Pinnacle Financial Partners in a report on Friday, March 8th. They set an “equal weight” rating and a $93.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Pinnacle Financial Partners currently has an average rating of “Moderate Buy” and a consensus target price of $88.78.

View Our Latest Stock Analysis on PNFP

About Pinnacle Financial Partners

(Free Report)

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.

Featured Articles

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, Inc. (NASDAQ:PNFPFree Report).

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.