Envestnet Asset Management Inc. Sells 29,666 Shares of Pinnacle Financial Partners, Inc. $PNFP

Envestnet Asset Management Inc. cut its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 13.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,607 shares of the financial services provider’s stock after selling 29,666 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.25% of Pinnacle Financial Partners worth $18,534,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PNFP. EJF Capital LLC increased its position in shares of Pinnacle Financial Partners by 2.5% during the second 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 grew its stake in Pinnacle Financial Partners by 7.0% during the 2nd quarter. Portside Wealth Group LLC now owns 1,960 shares of the financial services provider’s stock worth $216,000 after buying an additional 128 shares during the last quarter. Amalgamated Bank increased its position in 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 buying an additional 133 shares in the last quarter. ProShare Advisors LLC raised its stake in Pinnacle Financial Partners by 4.6% in the second 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 during the last quarter. Finally, Stephens Inc. AR boosted its holdings in Pinnacle Financial Partners by 7.3% in the third quarter. Stephens Inc. AR now owns 2,226 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Evercore ISI reiterated an “outperform” rating on shares of Pinnacle Financial Partners in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pinnacle Financial Partners in a research note on Monday, December 29th. Keefe, Bruyette & Woods boosted their target price on shares of Pinnacle Financial Partners from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Friday, January 9th. Barclays raised their price target on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Finally, JPMorgan Chase & Co. lifted their price objective 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 analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Pinnacle Financial Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.41.

Pinnacle Financial Partners Trading Up 1.1%

Shares of Pinnacle Financial Partners stock opened at $96.19 on Friday. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03. Pinnacle Financial Partners, Inc. has a 52-week low of $81.57 and a 52-week high of $122.01. The company’s 50-day simple moving average is $98.28 and its 200-day simple moving average is $93.96. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners Dividend Announcement

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

Insider Transactions at Pinnacle Financial Partners

In other news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were bought at an average cost of $94.52 per share, for a total transaction of $94,520.00. Following the acquisition, the chief financial officer directly owned 49,485 shares in the company, valued at $4,677,322.20. This trade represents a 2.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of Pinnacle Financial Partners stock in a transaction dated 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 directly owned 202,505 shares in the company, valued at $18,832,965. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.46% of the company’s stock.

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.