2,307 Shares in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Bought by Sapient Capital LLC

Sapient Capital LLC purchased a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,307 shares of the financial services provider’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its position in Pinnacle Financial Partners by 4.1% in the first quarter. BlackRock Inc. now owns 7,404,875 shares of the financial services provider’s stock valued at $408,453,000 after purchasing an additional 289,963 shares during the last quarter. Vanguard Group Inc. lifted its position in Pinnacle Financial Partners by 0.3% during the third quarter. Vanguard Group Inc. now owns 6,821,914 shares of the financial services provider’s stock valued at $553,257,000 after buying an additional 19,631 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Pinnacle Financial Partners by 1.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,904,785 shares of the financial services provider’s stock worth $286,612,000 after acquiring an additional 66,069 shares in the last quarter. State Street Corp grew its stake in shares of Pinnacle Financial Partners by 3.0% in the 2nd quarter. State Street Corp now owns 3,576,609 shares of the financial services provider’s stock worth $202,615,000 after buying an additional 105,029 shares during the last quarter. Finally, FMR LLC lifted its position in Pinnacle Financial Partners by 3.4% in the 3rd quarter. FMR LLC now owns 2,084,141 shares of the financial services provider’s stock valued at $139,721,000 after acquiring an additional 69,197 shares in the last quarter. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PNFP has been the topic of a number of research analyst reports. UBS Group lowered their price objective on shares of Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, January 18th. Jefferies Financial Group cut their price objective on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating for the company in a report on Monday, April 8th. Stephens reissued 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 price target on Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Barclays started coverage on shares of Pinnacle Financial Partners in a research note on Friday, March 8th. They issued an “equal weight” rating and a $93.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.57.

Insider Transactions at Pinnacle Financial Partners

In related news, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of the business’s stock in a transaction that occurred 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 directly owns 202,699 shares of the company’s stock, valued at approximately $17,721,973.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO M Terry Turner sold 24,057 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total value of $1,977,966.54. Following the sale, the chief executive officer now directly owns 294,790 shares of the company’s stock, valued at $24,237,633.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $87.43, for a total value of $553,519.33. Following the completion of the sale, the chairman now owns 202,699 shares in the company, valued at $17,721,973.57. The disclosure for this sale can be found here. Insiders sold a total of 54,175 shares of company stock valued at $4,487,253 over the last 90 days. Company insiders own 1.87% of the company’s stock.

Pinnacle Financial Partners Stock Performance

Shares of NASDAQ PNFP opened at $79.79 on Tuesday. The stock has a market cap of $6.15 billion, a PE ratio of 11.11 and a beta of 1.08. Pinnacle Financial Partners, Inc. has a 1 year low of $43.31 and a 1 year high of $92.33. The firm has a fifty day moving average price of $82.56 and a 200-day moving average price of $78.46. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.90 and a quick ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.01. Pinnacle Financial Partners had a return on equity of 9.78% and a net margin of 20.17%. The business had revenue of $396.34 million during the quarter, compared to analyst estimates of $416.97 million. During the same quarter in the prior year, the business posted $1.76 EPS. Pinnacle Financial Partners’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts anticipate that Pinnacle Financial Partners, Inc. will post 6.83 earnings per share for the current fiscal year.

Pinnacle Financial Partners Company Profile

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.