Squarepoint Ops LLC Sells 7,459 Shares of Pinnacle Financial Partners, Inc. $PNFP

Squarepoint Ops LLC decreased its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 57.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,478 shares of the financial services provider’s stock after selling 7,459 shares during the period. Squarepoint Ops LLC’s holdings in Pinnacle Financial Partners were worth $605,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sheets Smith Wealth Management raised its holdings in shares of Pinnacle Financial Partners by 1.8% during the second quarter. Sheets Smith Wealth Management now owns 5,980 shares of the financial services provider’s stock valued at $660,000 after acquiring an additional 105 shares in the last quarter. Park Avenue Securities LLC increased its position in Pinnacle Financial Partners by 1.5% during the 2nd quarter. Park Avenue Securities LLC now owns 8,177 shares of the financial services provider’s stock valued at $903,000 after purchasing an additional 121 shares during the period. EJF Capital LLC raised its holdings in Pinnacle Financial Partners by 2.5% in the 2nd quarter. EJF Capital LLC now owns 5,138 shares of the financial services provider’s stock worth $567,000 after purchasing an additional 127 shares in the last quarter. Portside Wealth Group LLC raised its holdings in Pinnacle Financial Partners by 7.0% in the 2nd quarter. Portside Wealth Group LLC now owns 1,960 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 128 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Pinnacle Financial Partners by 0.4% during the 2nd quarter. Amalgamated Bank now owns 35,195 shares of the financial services provider’s stock valued at $3,886,000 after purchasing an additional 133 shares in the last quarter. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Stock Down 0.3%

Shares of NASDAQ:PNFP opened at $101.25 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $91.24 and a two-hundred day simple moving average of $97.05. Pinnacle Financial Partners, Inc. has a 12-month low of $81.57 and a 12-month high of $127.85. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.62 and a beta of 1.06.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.22. The firm had revenue of $544.80 million during the quarter, compared to the consensus estimate of $526.40 million. Pinnacle Financial Partners had a return on equity of 9.91% and a net margin of 19.17%.During the same period last year, the company earned $1.86 earnings per share. On average, research analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 7th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.96 annualized dividend and a yield of 0.9%. Pinnacle Financial Partners’s payout ratio is 12.20%.

Insider Activity at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Director G Kennedy Thompson acquired 5,000 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were acquired at an average cost of $87.63 per share, with a total value of $438,150.00. Following the transaction, the director owned 33,372 shares of the company’s stock, valued at $2,924,388.36. The trade was a 17.62% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total value of $630,075.00. Following the sale, the chairman owned 202,505 shares in the company, valued at approximately $18,832,965. This represents a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.46% of the company’s stock.

Analysts Set New Price Targets

PNFP has been the subject of a number of research reports. Bank of America assumed coverage on shares of Pinnacle Financial Partners in a research note on Monday, December 8th. They issued a “buy” rating and a $113.00 price target for the company. Raymond James Financial raised Pinnacle Financial Partners from a “market perform” rating to a “strong-buy” rating and set a $120.00 target price for the company in a research report on Thursday, December 11th. TD Cowen started coverage on Pinnacle Financial Partners in a research report on Thursday, September 25th. They set a “buy” rating and a $122.00 price target on the stock. Wells Fargo & Company decreased their price objective on Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, October 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Pinnacle Financial Partners from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $111.38.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.