Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG raised its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,145 shares of the financial services provider’s stock after acquiring an additional 193 shares during the quarter. Deutsche Bank AG’s holdings in Pinnacle Financial Partners were worth $1,275,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kapitalo Investimentos Ltda bought a new stake in shares of Pinnacle Financial Partners in the 4th quarter worth approximately $78,000. Principal Securities Inc. grew its position in Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after buying an additional 91 shares during the last quarter. Values First Advisors Inc. grew its position in Pinnacle Financial Partners by 189.9% in the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider’s stock worth $167,000 after buying an additional 955 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Pinnacle Financial Partners by 20.6% in the fourth quarter. Blue Trust Inc. now owns 1,586 shares of the financial services provider’s stock valued at $181,000 after buying an additional 271 shares in the last quarter. Finally, Blair William & Co. IL acquired a new stake in shares of Pinnacle Financial Partners during the 4th quarter valued at $200,000. 87.40% of the stock is owned by institutional investors and hedge funds.

Pinnacle Financial Partners Stock Down 0.5%

NASDAQ:PNFP opened at $105.55 on Monday. The business’s fifty day moving average price is $101.65 and its 200 day moving average price is $112.30. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 17.65 and a beta of 1.00. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. Pinnacle Financial Partners, Inc. has a 1-year low of $73.62 and a 1-year high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Monday, April 14th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.08. The company had revenue of $475.37 million for the quarter, compared to analysts’ expectations of $478.11 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. During the same quarter in the previous year, the business posted $1.53 EPS. On average, sell-side analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 2nd will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.96 annualized dividend and a yield of 0.91%. Pinnacle Financial Partners’s dividend payout ratio is presently 15.53%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Hovde Group raised Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating and set a $111.00 price objective for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. reduced their target price on Pinnacle Financial Partners from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Barclays decreased their price target on Pinnacle Financial Partners from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group assumed coverage on Pinnacle Financial Partners in a research note on Wednesday, May 21st. They issued a “buy” rating and a $135.00 price target on the stock. Finally, Keefe, Bruyette & Woods cut their price objective on Pinnacle Financial Partners from $130.00 to $115.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Pinnacle Financial Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.27.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Director Glenda Baskin Glover sold 3,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $101.55, for a total value of $304,650.00. Following the transaction, the director now owns 9,943 shares in the company, valued at $1,009,711.65. The trade was a 23.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO M Terry Turner sold 2,000 shares of Pinnacle Financial Partners stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total value of $201,260.00. Following the sale, the chief executive officer now owns 254,552 shares of the company’s stock, valued at approximately $25,615,567.76. This represents a 0.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,041 shares of company stock worth $509,986. 1.46% of the stock is currently owned by company insiders.

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.