Pinnacle Financial Partners, Inc. $PNFP Shares Purchased by First Trust Advisors LP

First Trust Advisors LP grew its position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 341.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 411,436 shares of the company’s stock after acquiring an additional 318,243 shares during the quarter. First Trust Advisors LP owned about 0.53% of Pinnacle Financial Partners worth $38,589,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PNFP. EJF Capital LLC raised its holdings in shares of Pinnacle Financial Partners by 2.5% during the second quarter. EJF Capital LLC now owns 5,138 shares of the company’s stock valued at $567,000 after buying an additional 127 shares during the last quarter. Profund Advisors LLC grew its holdings in Pinnacle Financial Partners by 4.6% in the 3rd quarter. Profund Advisors LLC now owns 2,895 shares of the company’s stock worth $272,000 after buying an additional 127 shares in the last quarter. Portside Wealth Group LLC grew its holdings in Pinnacle Financial Partners by 7.0% in the 2nd quarter. Portside Wealth Group LLC now owns 1,960 shares of the company’s stock worth $216,000 after buying an additional 128 shares in the last quarter. ProShare Advisors LLC increased its position in Pinnacle Financial Partners by 4.6% in the 2nd quarter. ProShare Advisors LLC now owns 3,409 shares of the company’s stock valued at $376,000 after acquiring an additional 149 shares during the period. Finally, Stephens Inc. AR increased its position in Pinnacle Financial Partners by 7.3% in the 3rd quarter. Stephens Inc. AR now owns 2,226 shares of the company’s stock valued at $209,000 after acquiring an additional 152 shares during the period. Institutional investors own 87.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Truist Financial set a $100.00 price target on Pinnacle Financial Partners in a research report on Friday, January 9th. Raymond James Financial reissued a “strong-buy” rating on shares of Pinnacle Financial Partners in a research note on Thursday, January 22nd. Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a research report on Monday, January 5th. Barclays boosted their target price on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Finally, JPMorgan Chase & Co. boosted their target price on Pinnacle Financial Partners from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. One research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.41.

Insider Activity

In related news, CFO Andrew J. Jr. Gregory bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the transaction, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at $4,677,322.20. This represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Stock Down 2.0%

Shares of NYSE:PNFP opened at $83.45 on Friday. 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 0.32. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 10.32, a P/E/G ratio of 0.39 and a beta of 1.02.

Pinnacle Financial Partners Announces Dividend

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

Pinnacle Financial Partners Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.