1,074 Shares in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Purchased by GAMMA Investing LLC

GAMMA Investing LLC bought a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,074 shares of the financial services provider’s stock, valued at approximately $95,000.

Other large investors have also bought and sold shares of the company. Emerald Advisers LLC bought a new position in shares of Pinnacle Financial Partners in the third quarter worth about $27,000. Fifth Third Bancorp grew its position in 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 acquiring an additional 213 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Pinnacle Financial Partners during the fourth quarter valued at about $32,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Pinnacle Financial Partners by 57.1% during the third 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 last quarter. Finally, CWM LLC increased its stake in shares of Pinnacle Financial Partners by 62.3% in the fourth quarter. CWM LLC now owns 865 shares of the financial services provider’s stock valued at $75,000 after buying an additional 332 shares during the period. 87.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pinnacle Financial Partners

In related news, CEO M Terry Turner sold 24,057 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were 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 of the company’s stock, valued at approximately $24,237,633.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Harold R. Carpenter sold 6,306 shares of the stock in a transaction on Tuesday, March 12th. The stock was 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 directly owns 63,856 shares of the company’s stock, valued at approximately $5,250,240.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $1,977,966.54. Following the transaction, the chief executive officer now directly owns 294,790 shares in the company, valued at $24,237,633.80. The disclosure for this sale can be found here. Insiders sold a total of 47,844 shares of company stock valued at $3,933,734 over the last three months. Corporate insiders own 1.87% of the company’s stock.

Pinnacle Financial Partners Stock Performance

NASDAQ PNFP opened at $80.29 on Monday. The company has a market cap of $6.19 billion, a P/E ratio of 11.49 and a beta of 1.08. The company has a fifty day simple moving average of $82.20 and a 200 day simple moving average of $79.45. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. Pinnacle Financial Partners, Inc. has a 12-month low of $43.31 and a 12-month high of $92.33.

Pinnacle Financial Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Thursday, May 2nd. Pinnacle Financial Partners’s dividend payout ratio is currently 12.59%.

Wall Street Analyst Weigh In

PNFP has been the topic of a number of research reports. Hovde Group reduced their target price on shares of Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating on the stock in a report on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Stephens reaffirmed an “overweight” rating and set a $109.00 target price on shares of Pinnacle Financial Partners in a report on Tuesday, April 23rd. UBS Group decreased their price target on 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. Finally, Barclays began coverage on Pinnacle Financial Partners in a report on Friday, March 8th. They issued an “equal weight” rating and a $93.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Pinnacle Financial Partners has a consensus rating of “Hold” and an average target price of $95.50.

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.