Pinnacle Financial Partners (NASDAQ:PNFPP) Trading Down 0.3% – Here’s Why

Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP)’s share price dropped 0.3% during mid-day trading on Tuesday . The stock traded as low as $24.85 and last traded at $24.86. Approximately 6,251 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 14,780 shares. The stock had previously closed at $24.94.

Pinnacle Financial Partners Price Performance

The firm’s fifty day moving average price is $25.11 and its 200-day moving average price is $24.76.

Pinnacle Financial Partners (NASDAQ:PNFPP) last announced its quarterly earnings results on Monday, April 18th. The company reported $1.58 earnings per share for the quarter. The company had revenue of $304.43 million during the quarter.

Pinnacle Financial Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Sunday, November 16th will be given a $0.422 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 6.8%.

Institutional Investors Weigh In On Pinnacle Financial Partners

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

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.