Pinnacle Financial Partners, Inc. $PNFP Holdings Decreased by Channing Capital Management LLC

Channing Capital Management LLC reduced its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 98.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,652 shares of the financial services provider’s stock after selling 663,904 shares during the period. Channing Capital Management LLC’s holdings in Pinnacle Financial Partners were worth $718,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PNFP. Goldman Sachs Group Inc. raised its holdings in shares of Pinnacle Financial Partners by 6.2% during the first quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the financial services provider’s stock worth $69,060,000 after purchasing an additional 37,989 shares during the period. Focus Partners Wealth raised its stake in Pinnacle Financial Partners by 13.9% during the first quarter. Focus Partners Wealth now owns 4,755 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 581 shares during the period. Forum Financial Management LP raised its stake in Pinnacle Financial Partners by 25.9% during the second quarter. Forum Financial Management LP now owns 3,348 shares of the financial services provider’s stock worth $370,000 after acquiring an additional 688 shares during the period. AlphaQuest LLC bought a new position in Pinnacle Financial Partners in the second quarter worth about $417,000. Finally, Bessemer Group Inc. boosted its stake in Pinnacle Financial Partners by 4.6% in the second quarter. Bessemer Group Inc. now owns 203,534 shares of the financial services provider’s stock valued at $22,473,000 after acquiring an additional 8,879 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PNFP. Royal Bank Of Canada raised Pinnacle Financial Partners to a “moderate buy” rating in a report on Monday, January 5th. Deutsche Bank Aktiengesellschaft set a $116.00 target price on Pinnacle Financial Partners and gave the company a “buy” rating in a research note on Wednesday, January 21st. DA Davidson assumed coverage on shares of Pinnacle Financial Partners in a report on Monday, January 5th. They set a “neutral” rating and a $110.00 price target for the company. Keefe, Bruyette & Woods increased their price objective on shares of Pinnacle Financial Partners from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, January 9th. Finally, Truist Financial set a $100.00 price objective on shares of Pinnacle Financial Partners in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.41.

Insider Activity at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the 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 completion of the transaction, the chairman directly owned 202,505 shares of the company’s stock, valued at approximately $18,832,965. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the stock in a transaction dated Thursday, February 12th. The shares were purchased at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the completion of the transaction, the chief financial officer owned 49,485 shares in the company, valued at $4,677,322.20. This trade represents a 2.06% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ PNFP opened at $101.06 on Monday. The stock has a market cap of $7.84 billion, a P/E ratio of 12.84, a P/E/G ratio of 0.48 and a beta of 1.03. The firm’s 50-day simple moving average is $98.22 and its 200 day simple moving average is $94.34. Pinnacle Financial Partners, Inc. has a fifty-two week low of $81.57 and a fifty-two week high of $120.46. 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 business also recently declared 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 currently 24.72%.

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.