Stephens Inc. AR Purchases 254 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Stephens Inc. AR boosted its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 13.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,078 shares of the financial services provider’s stock after purchasing an additional 254 shares during the period. Stephens Inc. AR’s holdings in Pinnacle Financial Partners were worth $220,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stieven Capital Advisors L.P. lifted its stake in shares of Pinnacle Financial Partners by 2.7% during the 1st quarter. Stieven Capital Advisors L.P. now owns 104,298 shares of the financial services provider’s stock valued at $11,060,000 after buying an additional 2,700 shares in the last quarter. Xponance Inc. raised its position in shares of Pinnacle Financial Partners by 2.5% during the 1st quarter. Xponance Inc. now owns 8,899 shares of the financial services provider’s stock valued at $944,000 after buying an additional 221 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of Pinnacle Financial Partners by 1.1% in the first quarter. State of Michigan Retirement System now owns 18,327 shares of the financial services provider’s stock worth $1,943,000 after buying an additional 200 shares during the period. M&T Bank Corp lifted its stake in shares of Pinnacle Financial Partners by 9.0% in the 1st quarter. M&T Bank Corp now owns 8,187 shares of the financial services provider’s stock valued at $868,000 after acquiring an additional 674 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its stake in shares of Pinnacle Financial Partners by 2.5% in the 1st quarter. Stratos Wealth Partners LTD. now owns 9,884 shares of the financial services provider’s stock valued at $1,048,000 after acquiring an additional 240 shares during the last quarter. 87.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on PNFP shares. JPMorgan Chase & Co. upped their price target on Pinnacle Financial Partners from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Barclays increased their target price on Pinnacle Financial Partners from $125.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Hovde Group raised Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating and set a $111.00 price target on the stock in a report on Wednesday, April 16th. Jefferies Financial Group started coverage on Pinnacle Financial Partners in a report on Wednesday, May 21st. They issued a “buy” rating and a $135.00 target price on the stock. Finally, UBS Group reissued a “neutral” rating and set a $121.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.60.

Pinnacle Financial Partners Trading Down 1.5%

PNFP opened at $117.04 on Monday. The firm has a market cap of $9.08 billion, a P/E ratio of 15.52 and a beta of 1.01. Pinnacle Financial Partners, Inc. has a 12 month low of $81.57 and a 12 month high of $131.91. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average of $110.15 and a 200 day moving average of $109.41.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.08. Pinnacle Financial Partners had a return on equity of 9.60% and a net margin of 18.69%. The business had revenue of $504.99 million during the quarter, compared to analyst estimates of $495.27 million. During the same quarter in the previous year, the business earned $1.63 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, research analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, August 1st. Pinnacle Financial Partners’s dividend payout ratio is presently 12.73%.

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.