Pinnacle Financial Partners (NASDAQ:PNFPP) Shares Up 0.1% – Still a Buy?

Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP)’s share price shot up 0.1% during trading on Tuesday . The stock traded as high as $24.49 and last traded at $24.32. 7,904 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 15,999 shares. The stock had previously closed at $24.30.

Pinnacle Financial Partners Stock Performance

The stock has a 50-day simple moving average of $24.21 and a 200-day simple moving average of $24.54.

Pinnacle Financial Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Saturday, May 17th were given a dividend of $0.422 per share. This represents a $1.69 dividend on an annualized basis and a yield of 6.94%. The ex-dividend date was Friday, May 16th.

Institutional Investors Weigh In On Pinnacle Financial Partners

A hedge fund recently bought a new stake in Pinnacle Financial Partners stock. Wealth Preservation Advisors LLC bought a new position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,000 shares of the company’s stock, valued at approximately $48,000.

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.