Nisa Investment Advisors LLC Buys 793 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Nisa Investment Advisors LLC boosted its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 25.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,888 shares of the financial services provider’s stock after purchasing an additional 793 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Pinnacle Financial Partners were worth $339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Emerald Advisers LLC acquired a new stake in Pinnacle Financial Partners in the third quarter worth about $27,000. International Assets Investment Management LLC acquired a new stake in Pinnacle Financial Partners in the third quarter worth about $28,000. Fifth Third Bancorp boosted its holdings in Pinnacle Financial Partners by 101.4% in the third quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 213 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Pinnacle Financial Partners in the fourth quarter worth about $32,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Pinnacle Financial Partners by 57.1% in the third 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 in the last quarter. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on PNFP shares. Truist Financial raised their price target on Pinnacle Financial Partners from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, April 1st. UBS Group lowered their price target on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, January 18th. Barclays assumed coverage on Pinnacle Financial Partners in a report on Friday, March 8th. They set an “equal weight” rating and a $93.00 target price for the company. Jefferies Financial Group decreased their target price 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. Finally, Stephens reaffirmed an “overweight” rating and set a $108.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Pinnacle Financial Partners has an average rating of “Hold” and a consensus price target of $92.57.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners 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 completion of the transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. In other 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 completion of the sale, the chairman now directly owns 202,699 shares in the company, valued at $17,721,973.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harold R. Carpenter sold 6,306 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $518,479.32. Following the completion of the sale, the chief financial officer now owns 63,856 shares of the company’s stock, valued at $5,250,240.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,175 shares of company stock valued at $4,487,253. 1.87% of the stock is owned by company insiders.

Pinnacle Financial Partners Trading Up 0.2 %

Pinnacle Financial Partners stock opened at $78.46 on Friday. Pinnacle Financial Partners, Inc. has a 52 week low of $43.31 and a 52 week high of $92.33. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 10.93 and a beta of 1.08. The stock has a 50-day moving average price of $82.40 and a 200 day moving average price of $78.64. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.44.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, beating 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 company had revenue of $396.34 million during the quarter, compared to the consensus estimate of $416.97 million. During the same period in the previous year, the company posted $1.76 earnings per share. Pinnacle Financial Partners’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts anticipate that Pinnacle Financial Partners, Inc. will post 6.83 EPS for the current year.

Pinnacle Financial Partners 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.