New York State Common Retirement Fund Has $23.61 Million Position in Pinnacle Financial Partners, Inc. $PNFP

New York State Common Retirement Fund trimmed its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 45.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 251,747 shares of the financial services provider’s stock after selling 209,484 shares during the quarter. New York State Common Retirement Fund owned approximately 0.32% of Pinnacle Financial Partners worth $23,611,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd lifted its position in shares of Pinnacle Financial Partners by 193.9% in the third quarter. Covestor Ltd now owns 338 shares of the financial services provider’s stock valued at $32,000 after buying an additional 223 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Pinnacle Financial Partners in the 2nd quarter valued at $38,000. Quent Capital LLC acquired a new stake in Pinnacle Financial Partners during the 3rd quarter valued at $34,000. MAI Capital Management boosted its position in Pinnacle Financial Partners by 79.4% during the second quarter. MAI Capital Management now owns 366 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 162 shares during the period. Finally, Spurstone Advisory Services LLC bought a new position in Pinnacle Financial Partners during the second quarter worth $41,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Stock Up 0.0%

Shares of NASDAQ PNFP opened at $94.99 on Friday. The stock has a market capitalization of $7.37 billion, a P/E ratio of 12.07, a PEG ratio of 0.48 and a beta of 1.02. The stock’s fifty day moving average is $97.03 and its 200 day moving average is $94.48. Pinnacle Financial Partners, Inc. has a 52 week low of $81.57 and a 52 week high of $126.81. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89.

Pinnacle Financial Partners Dividend Announcement

The company also recently declared a dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 6th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is 24.72%.

Insider Buying and Selling at Pinnacle Financial Partners

In related news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total transaction of $630,075.00. Following the sale, the chairman owned 202,505 shares in the company, valued at approximately $18,832,965. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial set a $100.00 target price on shares of Pinnacle Financial Partners in a research note on Friday, January 9th. JPMorgan Chase & Co. increased their price target 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. DA Davidson assumed coverage on shares of Pinnacle Financial Partners in a research report on Monday, January 5th. They set a “neutral” rating and a $110.00 price objective for the company. Deutsche Bank Aktiengesellschaft set a $116.00 target price on Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Wednesday, January 21st. Finally, Bank of America initiated coverage on Pinnacle Financial Partners in a research note on Monday, December 8th. They set a “buy” rating and a $113.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $113.41.

About Pinnacle Financial Partners

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.