Cwm LLC Grows Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Cwm LLC increased its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 475.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,526 shares of the financial services provider’s stock after acquiring an additional 2,913 shares during the quarter. Cwm LLC’s holdings in Pinnacle Financial Partners were worth $374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNFP. Golden State Wealth Management LLC purchased a new stake in Pinnacle Financial Partners during the 1st quarter valued at approximately $48,000. Kapitalo Investimentos Ltda purchased a new stake in Pinnacle Financial Partners during the 4th quarter valued at approximately $78,000. UMB Bank n.a. grew its holdings in Pinnacle Financial Partners by 16.6% during the 1st quarter. UMB Bank n.a. now owns 858 shares of the financial services provider’s stock valued at $91,000 after buying an additional 122 shares in the last quarter. GAMMA Investing LLC grew its holdings in Pinnacle Financial Partners by 51.7% during the 1st quarter. GAMMA Investing LLC now owns 1,616 shares of the financial services provider’s stock valued at $171,000 after buying an additional 551 shares in the last quarter. Finally, Blair William & Co. IL purchased a new stake in Pinnacle Financial Partners during the 4th quarter valued at approximately $200,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PNFP shares. Wells Fargo & Company cut their price objective on shares of Pinnacle Financial Partners from $125.00 to $110.00 and set an “equal weight” rating for the company in a report on Friday. Citigroup cut their price objective on shares of Pinnacle Financial Partners from $140.00 to $120.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Pinnacle Financial Partners from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Barclays increased their price objective on shares of Pinnacle Financial Partners from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Pinnacle Financial Partners has a consensus rating of “Moderate Buy” and a consensus target price of $123.60.

Pinnacle Financial Partners Trading Down 12.1%

PNFP stock opened at $91.56 on Friday. The firm has a fifty day moving average price of $109.66 and a 200 day moving average price of $109.19. Pinnacle Financial Partners, Inc. has a fifty-two week low of $81.57 and a fifty-two week high of $131.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a market cap of $7.10 billion, a PE ratio of 12.14 and a beta of 1.01.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. The company had revenue of $504.99 million during the quarter, compared to the consensus estimate of $495.27 million. Pinnacle Financial Partners had a return on equity of 9.60% and a net margin of 18.69%. Pinnacle Financial Partners’s revenue was up 15.1% on a year-over-year basis. During the same period last year, the company earned $1.63 earnings per share. Sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 1st will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $0.96 dividend on an annualized basis and a yield of 1.05%. Pinnacle Financial Partners’s dividend payout ratio is presently 12.73%.

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.