Corient Private Wealth LLC Has $1.09 Million Stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Corient Private Wealth LLC boosted its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFPFree Report) by 10.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,440 shares of the financial services provider’s stock after buying an additional 1,138 shares during the period. Corient Private Wealth LLC’s holdings in Pinnacle Financial Partners were worth $1,085,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in Pinnacle Financial Partners by 6,999.3% in the fourth quarter. International Assets Investment Management LLC now owns 30,527 shares of the financial services provider’s stock valued at $2,663,000 after buying an additional 30,097 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Pinnacle Financial Partners by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 876,314 shares of the financial services provider’s stock valued at $76,432,000 after buying an additional 33,355 shares during the period. Wellington Management Group LLP lifted its holdings in Pinnacle Financial Partners by 102.7% in the third quarter. Wellington Management Group LLP now owns 1,870,441 shares of the financial services provider’s stock valued at $125,394,000 after buying an additional 947,704 shares during the period. Barlow Wealth Partners Inc. acquired a new position in Pinnacle Financial Partners in the fourth quarter valued at approximately $12,535,000. Finally, Level Four Advisory Services LLC acquired a new position in Pinnacle Financial Partners in the fourth quarter valued at approximately $824,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Jefferies Financial Group cut their price objective 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. lowered their target price 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. 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 research note on Tuesday, April 23rd. Truist Financial lowered their target price on shares of Pinnacle Financial Partners from $99.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. 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 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.63.

View Our Latest Analysis on PNFP

Pinnacle Financial Partners Stock Up 1.6 %

Shares of PNFP stock opened at $79.51 on Monday. The firm has a fifty day moving average of $81.52 and a 200-day moving average of $82.26. 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, Inc. has a 12-month low of $47.61 and a 12-month high of $92.33. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 11.37 and a beta of 1.08.

Pinnacle Financial Partners (NASDAQ:PNFPGet Free Report) last issued its quarterly earnings data on Monday, April 22nd. The financial services provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.01. Pinnacle Financial Partners had a net margin of 18.59% and a return on equity of 9.31%. The company had revenue of $428.14 million during the quarter, compared to the consensus estimate of $413.27 million. As a group, equities research analysts predict that Pinnacle Financial Partners, Inc. will post 6.75 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 3rd were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, May 2nd. Pinnacle Financial Partners’s payout ratio is 12.59%.

Insider Buying and Selling

In related news, CEO M Terry Turner sold 72,000 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $80.97, for a total transaction of $5,829,840.00. Following the completion of the transaction, the chief executive officer now owns 222,790 shares in the company, valued at $18,039,306.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Robert A. Mccabe, Jr. sold 115,249 shares of the stock in a transaction on 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 completion of the transaction, the chairman now owns 153,062 shares in the company, valued at $12,404,144.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO M Terry Turner sold 72,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $80.97, for a total transaction of $5,829,840.00. Following the transaction, the chief executive officer now owns 222,790 shares of the company’s stock, valued at approximately $18,039,306.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 235,093 shares of company stock worth $19,103,353. 1.87% of the stock is owned by insiders.

About Pinnacle Financial Partners

(Free Report)

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.

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Institutional Ownership by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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