Oppenheimer Asset Management Inc. Decreases Stake in Pinnacle Financial Partners, Inc. $PNFP

Oppenheimer Asset Management Inc. lessened its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 21.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 114,605 shares of the financial services provider’s stock after selling 31,851 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.15% of Pinnacle Financial Partners worth $10,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EJF Capital LLC boosted its stake in shares of Pinnacle Financial Partners by 2.5% during the 2nd quarter. EJF Capital LLC now owns 5,138 shares of the financial services provider’s stock worth $567,000 after acquiring an additional 127 shares in the last quarter. Portside Wealth Group LLC increased its position in shares of Pinnacle Financial Partners by 7.0% in the second quarter. Portside Wealth Group LLC now owns 1,960 shares of the financial services provider’s stock valued at $216,000 after buying an additional 128 shares in the last quarter. Amalgamated Bank raised 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 worth $3,886,000 after buying an additional 133 shares during the period. ProShare Advisors LLC lifted its position in shares of Pinnacle Financial Partners by 4.6% during the 2nd quarter. ProShare Advisors LLC now owns 3,409 shares of the financial services provider’s stock valued at $376,000 after buying an additional 149 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in Pinnacle Financial Partners by 7.3% in the 3rd quarter. Stephens Inc. AR now owns 2,226 shares of the financial services provider’s stock valued at $209,000 after buying an additional 152 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Performance

NASDAQ:PNFP opened at $101.40 on Tuesday. The firm has a market cap of $7.87 billion, a PE ratio of 12.88, a P/E/G ratio of 0.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89. Pinnacle Financial Partners, Inc. has a 1-year low of $81.57 and a 1-year high of $124.08. The firm has a 50 day simple moving average of $98.07 and a 200-day simple moving average of $93.82.

Pinnacle Financial Partners Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 6th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 24.72%.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total transaction of $630,075.00. Following the transaction, the chairman owned 202,505 shares in the company, valued at $18,832,965. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Bank of America began coverage on shares of Pinnacle Financial Partners in a report on Monday, December 8th. They set a “buy” rating and a $113.00 target price for the company. Wells Fargo & Company cut their price target on shares of 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. JPMorgan Chase & Co. increased their target price on shares of Pinnacle Financial Partners from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Piper Sandler increased their price target on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Pinnacle Financial Partners in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Pinnacle Financial Partners currently has a consensus rating of “Moderate Buy” and an average price target of $113.41.

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.