12th Street Asset Management Company LLC Cuts Holdings in Pinnacle Financial Partners, Inc. $PNFP

12th Street Asset Management Company LLC trimmed its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 319,050 shares of the financial services provider’s stock after selling 5,888 shares during the quarter. Pinnacle Financial Partners comprises 5.1% of 12th Street Asset Management Company LLC’s portfolio, making the stock its 8th largest position. 12th Street Asset Management Company LLC owned approximately 0.41% of Pinnacle Financial Partners worth $29,924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PNFP. Norges Bank acquired a new position in Pinnacle Financial Partners during the 2nd quarter valued at about $113,461,000. Balyasny Asset Management L.P. boosted its position in shares of Pinnacle Financial Partners by 1,036.4% during the second quarter. Balyasny Asset Management L.P. now owns 297,181 shares of the financial services provider’s stock worth $32,812,000 after buying an additional 271,029 shares during the period. Impax Asset Management Group plc grew its holdings in Pinnacle Financial Partners by 248.2% in the 3rd quarter. Impax Asset Management Group plc now owns 348,237 shares of the financial services provider’s stock worth $32,661,000 after buying an additional 248,237 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in Pinnacle Financial Partners in the 2nd quarter worth approximately $20,932,000. Finally, Sei Investments Co. increased its position in Pinnacle Financial Partners by 82.7% in the 2nd quarter. Sei Investments Co. now owns 376,762 shares of the financial services provider’s stock valued at $41,598,000 after acquiring an additional 170,536 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Insider Activity

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of Pinnacle Financial Partners stock in a transaction that occurred 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 completion of the transaction, the chairman owned 202,505 shares in the company, valued at approximately $18,832,965. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Trading Down 2.8%

Pinnacle Financial Partners stock opened at $95.11 on Friday. Pinnacle Financial Partners, Inc. has a one year low of $81.57 and a one year high of $122.01. The company’s fifty day moving average price is $98.28 and its two-hundred day moving average price is $93.91. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 0.48 and a beta of 1.03.

Pinnacle Financial Partners Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pinnacle Financial Partners in a research note on Monday, December 29th. Raymond James Financial restated a “strong-buy” rating on shares of Pinnacle Financial Partners in a research report on Thursday, January 22nd. TD Cowen reaffirmed a “buy” rating on shares of Pinnacle Financial Partners in a research note on Wednesday, January 7th. Stephens dropped their price objective on Pinnacle Financial Partners from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, October 17th. Finally, Barclays upped their price objective on Pinnacle Financial Partners from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.41.

Pinnacle Financial Partners 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.