Caerus Investment Advisors LLC Invests $675,000 in Pinnacle Financial Partners, Inc. $PNFP

Caerus Investment Advisors LLC purchased a new stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,194 shares of the company’s stock, valued at approximately $675,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Goldman Sachs Group Inc. increased its stake in shares of Pinnacle Financial Partners by 6.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock valued at $69,060,000 after buying an additional 37,989 shares during the period. Focus Partners Wealth lifted its stake in shares of Pinnacle Financial Partners by 13.9% during the first quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock valued at $504,000 after acquiring an additional 581 shares during the period. ProShare Advisors LLC boosted its holdings in Pinnacle Financial Partners by 4.6% in the second 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 last quarter. Vise Technologies Inc. bought a new position in Pinnacle Financial Partners in the second quarter valued at about $269,000. Finally, PNC Financial Services Group Inc. increased its position in Pinnacle Financial Partners by 6.2% in the second quarter. PNC Financial Services Group Inc. now owns 6,991 shares of the company’s stock worth $772,000 after purchasing an additional 410 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Trading Down 0.3%

NYSE PNFP opened at $83.11 on Wednesday. Pinnacle Financial Partners, Inc. has a 12 month low of $81.57 and a 12 month 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 $6.45 billion, a P/E ratio of 10.27, a P/E/G ratio of 0.38 and a beta of 1.02.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 6th were given a $0.50 dividend. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 24.72%.

Insiders Place Their Bets

In other news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.46% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Bank of America started coverage on Pinnacle Financial Partners in a report on Monday, December 8th. They set a “buy” rating and a $113.00 price objective for the company. DA Davidson assumed coverage on shares of Pinnacle Financial Partners in a research report on Monday, January 5th. They set a “neutral” rating and a $110.00 price target for the company. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Wednesday. Truist Financial set a $100.00 price objective on shares of Pinnacle Financial Partners in a report on Friday, January 9th. Finally, Evercore reaffirmed an “outperform” rating on shares of Pinnacle Financial Partners in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.41.

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.