Pinnacle Financial Partners, Inc. $PNFP Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lowered its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 99.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 288 shares of the financial services provider’s stock after selling 203,246 shares during the quarter. Bessemer Group Inc.’s holdings in Pinnacle Financial Partners were worth $27,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Pinnacle Financial Partners in the second quarter valued at approximately $113,461,000. Balyasny Asset Management L.P. boosted its stake in shares of Pinnacle Financial Partners by 1,036.4% in the second quarter. Balyasny Asset Management L.P. now owns 297,181 shares of the financial services provider’s stock valued at $32,812,000 after purchasing an additional 271,029 shares during the period. Westwood Holdings Group Inc. acquired a new stake in Pinnacle Financial Partners during the 2nd quarter valued at $20,932,000. Sei Investments Co. increased its stake in Pinnacle Financial Partners by 82.7% during the 2nd quarter. Sei Investments Co. now owns 376,762 shares of the financial services provider’s stock worth $41,598,000 after buying an additional 170,536 shares during the period. Finally, Holocene Advisors LP lifted its holdings in Pinnacle Financial Partners by 139.9% in the 2nd quarter. Holocene Advisors LP now owns 225,148 shares of the financial services provider’s stock worth $24,859,000 after buying an additional 131,280 shares in the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PNFP shares. UBS Group set a $106.00 target price on Pinnacle Financial Partners in a research note on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft set a $116.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada raised shares of Pinnacle Financial Partners to a “moderate buy” rating in a report on Monday, January 5th. Citigroup raised their price objective on shares of Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Truist Financial set a $100.00 target price on shares of Pinnacle Financial Partners in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and an average target price of $113.41.

Insider Activity

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of Pinnacle Financial Partners stock in a transaction on Wednesday, November 26th. The stock was 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 of the company’s stock, valued at $18,832,965. The trade was a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew J. Jr. Gregory purchased 1,000 shares of Pinnacle Financial Partners stock in a transaction on Thursday, February 12th. The shares were acquired at an average price of $94.52 per share, with a total value of $94,520.00. Following the transaction, 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 disclosure for this purchase is available in the SEC filing. Company insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Stock Performance

Shares of PNFP stock opened at $96.19 on Monday. The company has a market cap of $7.46 billion, a P/E ratio of 12.22, a PEG ratio of 0.48 and a beta of 1.03. The business has a 50 day moving average of $98.28 and a two-hundred day moving average of $93.98. Pinnacle Financial Partners, Inc. has a 52 week low of $81.57 and a 52 week high of $122.01. 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 company also recently disclosed a dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 6th will be given a $0.50 dividend. The ex-dividend date is Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 24.72%.

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.