FNY Investment Advisers LLC Invests $2.99 Million in Pinnacle Financial Partners, Inc. $PNFP

FNY Investment Advisers LLC purchased a new stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 31,332 shares of the company’s stock, valued at approximately $2,989,000. Pinnacle Financial Partners makes up about 0.9% of FNY Investment Advisers LLC’s investment portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds have also made changes to their positions in PNFP. EJF Capital LLC lifted its holdings in shares of Pinnacle Financial Partners by 2.5% during the 2nd quarter. EJF Capital LLC now owns 5,138 shares of the company’s stock worth $567,000 after acquiring an additional 127 shares during the period. Profund Advisors LLC grew its position in Pinnacle Financial Partners by 4.6% in the third quarter. Profund Advisors LLC now owns 2,895 shares of the company’s stock valued at $272,000 after acquiring an additional 127 shares in the last quarter. Diversified Trust Co. increased its stake in Pinnacle Financial Partners by 0.3% during the 4th quarter. Diversified Trust Co. now owns 54,349 shares of the company’s stock worth $5,185,000 after buying an additional 137 shares during the period. Stephens Inc. AR increased its position in shares of Pinnacle Financial Partners by 7.3% during the third quarter. Stephens Inc. AR now owns 2,226 shares of the company’s stock worth $209,000 after acquiring an additional 152 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC raised its position in shares of Pinnacle Financial Partners by 1.3% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 12,850 shares of the company’s stock valued at $1,226,000 after purchasing an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Price Performance

Shares of NYSE:PNFP opened at $87.57 on Friday. The company has a market cap of $6.79 billion, a PE ratio of 10.82, a PEG ratio of 0.40 and a beta of 1.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. Pinnacle Financial Partners, Inc. has a 1-year low of $81.08 and a 1-year high of $120.46.

Pinnacle Financial Partners Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently commented on PNFP. TD Cowen reaffirmed a “buy” rating on shares of Pinnacle Financial Partners in a report on Wednesday, January 7th. Evercore reiterated an “outperform” rating on shares of Pinnacle Financial Partners in a research note on Thursday, February 5th. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft set a $116.00 target price on Pinnacle Financial Partners and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. decreased their target price on Pinnacle Financial Partners from $120.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday. One 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.24.

Insider Activity at Pinnacle Financial Partners

In other news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was purchased at an average cost of $94.52 per share, with a total value of $94,520.00. Following the acquisition, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.46% of the company’s stock.

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.