Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 6,999.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,527 shares of the financial services provider’s stock after purchasing an additional 30,097 shares during the quarter. International Assets Investment Management LLC’s holdings in Pinnacle Financial Partners were worth $2,663,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Emerald Advisers LLC acquired a new stake in shares of Pinnacle Financial Partners during the 3rd quarter worth approximately $27,000. Fifth Third Bancorp grew its stake in shares of Pinnacle Financial Partners by 101.4% during the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 213 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $32,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Pinnacle Financial Partners by 57.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Insider Buying and Selling at Pinnacle Financial Partners

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

Pinnacle Financial Partners Trading Up 0.2 %

Shares of PNFP stock opened at $78.46 on Friday. The stock’s fifty day moving average is $82.40 and its two-hundred day moving average is $78.64. 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 firm has a market capitalization of $6.05 billion, a P/E ratio of 10.93 and a beta of 1.08. Pinnacle Financial Partners, Inc. has a fifty-two week low of $43.31 and a fifty-two week high of $92.33.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.01. The company had revenue of $396.34 million for the quarter, compared to analyst estimates of $416.97 million. Pinnacle Financial Partners had a return on equity of 9.78% and a net margin of 20.17%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 EPS. Research analysts expect that Pinnacle Financial Partners, Inc. will post 6.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports 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 on the stock in a research note on Thursday, January 18th. Truist Financial lifted their price target on shares of Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Jefferies Financial Group dropped their price target on shares of Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Stephens reissued an “overweight” rating and issued a $108.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, January 17th. Finally, Barclays began 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 target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pinnacle Financial Partners currently has a consensus rating of “Hold” and an average target price of $92.57.

About Pinnacle Financial Partners

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.