Merit Financial Group LLC Purchases 9,600 Shares of Pinnacle Financial Partners, Inc. $PNFP

Merit Financial Group LLC boosted its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 528.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 11,415 shares of the financial services provider’s stock after acquiring an additional 9,600 shares during the period. Merit Financial Group LLC’s holdings in Pinnacle Financial Partners were worth $1,071,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Pinnacle Financial Partners by 97.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 47,073 shares of the financial services provider’s stock valued at $4,327,000 after acquiring an additional 23,292 shares during the period. Voya Investment Management LLC increased its holdings in Pinnacle Financial Partners by 146.1% during the 3rd quarter. Voya Investment Management LLC now owns 25,183 shares of the financial services provider’s stock worth $2,362,000 after acquiring an additional 14,951 shares during the period. Jones Financial Companies Lllp lifted its stake in Pinnacle Financial Partners by 585.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 18,419 shares of the financial services provider’s stock worth $1,768,000 after purchasing an additional 15,732 shares in the last quarter. Advisors Capital Management LLC boosted its holdings in Pinnacle Financial Partners by 10.5% in the 2nd quarter. Advisors Capital Management LLC now owns 34,233 shares of the financial services provider’s stock valued at $3,780,000 after purchasing an additional 3,252 shares during the period. Finally, Woodmont Investment Counsel LLC grew its position in shares of Pinnacle Financial Partners by 43.1% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 94,388 shares of the financial services provider’s stock valued at $8,853,000 after purchasing an additional 28,445 shares in the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Stock Performance

NASDAQ:PNFP opened at $96.49 on Wednesday. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 0.48 and a beta of 1.03. The business has a 50 day moving average of $98.26 and a 200 day moving average of $94.12. 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 $122.01.

Pinnacle Financial Partners Dividend Announcement

The firm also recently disclosed 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 is 24.72%.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of Pinnacle Financial Partners stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total value of $630,075.00. Following 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew J. Jr. Gregory bought 1,000 shares of the stock in a transaction dated Thursday, February 12th. The stock was bought at an average cost of $94.52 per share, with a total value of $94,520.00. Following the purchase, the chief financial officer owned 49,485 shares in the company, valued at $4,677,322.20. The trade was a 2.06% increase in their position. The SEC filing for this purchase provides additional information. 1.46% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PNFP has been the topic of a number of recent analyst reports. Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a research report on Monday, January 5th. UBS Group set a $106.00 price target on Pinnacle Financial Partners in a report on Wednesday, February 4th. DA Davidson started coverage on Pinnacle Financial Partners in a report on Monday, January 5th. They set a “neutral” rating and a $110.00 price objective for the company. Bank of America initiated coverage on shares of Pinnacle Financial Partners in a research note on Monday, December 8th. They issued a “buy” rating and a $113.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pinnacle Financial Partners in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.