Cwm LLC Acquires 332 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Cwm LLC boosted its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 62.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 865 shares of the financial services provider’s stock after acquiring an additional 332 shares during the quarter. Cwm LLC’s holdings in Pinnacle Financial Partners were worth $75,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates raised its stake in Pinnacle Financial Partners by 6.1% during the 3rd quarter. Raymond James & Associates now owns 185,911 shares of the financial services provider’s stock valued at $12,463,000 after purchasing an additional 10,755 shares during the period. Stratos Wealth Partners LTD. grew its position in Pinnacle Financial Partners by 4.3% in the third quarter. Stratos Wealth Partners LTD. now owns 9,744 shares of the financial services provider’s stock worth $653,000 after acquiring an additional 401 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Pinnacle Financial Partners by 8.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,296 shares of the financial services provider’s stock worth $958,000 after acquiring an additional 1,143 shares during the last quarter. Advisor Partners II LLC purchased a new stake in Pinnacle Financial Partners during the third quarter valued at approximately $383,000. Finally, Emerald Advisers LLC bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at approximately $27,000. 87.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PNFP. UBS Group decreased their price target on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, January 18th. Hovde Group lowered their target price on shares of Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating for the company in a report on Tuesday, April 23rd. Jefferies Financial Group cut 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 report on Monday, April 8th. JPMorgan Chase & Co. decreased their price objective on shares of Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Finally, Stephens reaffirmed an “overweight” rating and set a $109.00 target price on shares of Pinnacle Financial Partners in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.50.

Insider Activity at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 115,249 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $81.04, for a total transaction of $9,339,778.96. Following the transaction, the chairman now owns 153,062 shares of the company’s stock, valued at approximately $12,404,144.48. The transaction 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 115,249 shares of Pinnacle Financial Partners stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $81.04, for a total value of $9,339,778.96. Following the transaction, the chairman now directly owns 153,062 shares in the company, valued at approximately $12,404,144.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Harold R. Carpenter sold 6,306 shares of the company’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 $518,479.32. Following 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. Insiders sold 235,093 shares of company stock worth $19,103,353 over the last three months. 1.87% of the stock is owned by corporate insiders.

Pinnacle Financial Partners Stock Up 0.0 %

Shares of NASDAQ:PNFP opened at $83.29 on Wednesday. The business’s 50 day moving average is $81.77 and its 200 day moving average is $80.16. The stock has a market cap of $6.42 billion, a P/E ratio of 11.92 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a 52-week low of $46.05 and a 52-week high of $92.33. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 3rd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, May 2nd. Pinnacle Financial Partners’s payout ratio is 12.59%.

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.