Ausbil Investment Management Ltd Has $1.02 Million Position in Pinnacle Financial Partners, Inc. $PNFP

Ausbil Investment Management Ltd increased its holdings in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 130.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,663 shares of the company’s stock after purchasing an additional 6,042 shares during the period. Ausbil Investment Management Ltd’s holdings in Pinnacle Financial Partners were worth $1,017,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PNFP. AQR Capital Management LLC boosted its holdings in shares of Pinnacle Financial Partners by 1,697.4% in the third quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company’s stock valued at $306,474,000 after buying an additional 3,085,867 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Pinnacle Financial Partners during the third quarter worth $187,822,000. Norges Bank bought a new stake in Pinnacle Financial Partners in the 2nd quarter valued at $113,461,000. Wellington Management Group LLP lifted its position in Pinnacle Financial Partners by 51.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,156,749 shares of the company’s stock valued at $202,281,000 after acquiring an additional 728,975 shares in the last quarter. Finally, Pentwater Capital Management LP acquired a new position in Pinnacle Financial Partners in the 3rd quarter worth $42,538,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Trading Down 0.3%

Shares of NYSE PNFP opened at $84.57 on Friday. 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 company has a market cap of $6.56 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. Pinnacle Financial Partners, Inc. has a 12 month low of $81.08 and a 12 month high of $120.46.

Pinnacle Financial Partners Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on PNFP. Citigroup lifted their price target on Pinnacle Financial Partners from $118.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, January 26th. UBS Group set a $106.00 price objective on Pinnacle Financial Partners in a research report on Wednesday, February 4th. TD Cowen reiterated a “buy” rating on shares of Pinnacle Financial Partners in a report on Wednesday, January 7th. Weiss Ratings began coverage on Pinnacle Financial Partners in a research report on Monday, March 9th. They issued a “hold (c+)” rating on the stock. Finally, JPMorgan Chase & Co. upped their price target 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 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.41.

Insider Activity

In other news, CFO Andrew J. Jr. Gregory bought 1,000 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were bought at an average price of $94.52 per share, with a total value of $94,520.00. Following the completion of the transaction, the chief financial officer owned 49,485 shares of the company’s stock, valued at $4,677,322.20. This trade represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.46% of the stock is currently owned by corporate insiders.

About Pinnacle Financial Partners

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.