Andra AP fonden Purchases New Stake in Pinnacle Financial Partners, Inc. $PNFP

Andra AP fonden bought a new position in Pinnacle Financial Partners, Inc. (NYSE:PNFPFree Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 85,700 shares of the company’s stock, valued at approximately $7,382,000. Andra AP fonden owned about 0.11% of Pinnacle Financial Partners as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in Pinnacle Financial Partners by 6.2% during the first quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock worth $69,060,000 after acquiring an additional 37,989 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Pinnacle Financial Partners by 13.9% in the 1st quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock valued at $504,000 after purchasing an additional 581 shares during the last quarter. Amundi lifted its stake in shares of Pinnacle Financial Partners by 25,700.0% in the 2nd quarter. Amundi now owns 4,386 shares of the company’s stock valued at $513,000 after purchasing an additional 4,369 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Pinnacle Financial Partners during the 2nd quarter worth $229,000. Finally, Cerity Partners LLC grew its holdings in shares of Pinnacle Financial Partners by 4.2% during the 2nd quarter. Cerity Partners LLC now owns 26,061 shares of the company’s stock worth $2,877,000 after purchasing an additional 1,039 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Trading Up 0.7%

Shares of NYSE PNFP opened at $97.47 on Thursday. The firm has a market capitalization of $7.56 billion, a PE ratio of 13.52, a P/E/G ratio of 0.39 and a beta of 1.04. The company has a fifty day moving average of $97.65. Pinnacle Financial Partners, Inc. has a 12-month low of $81.08 and a 12-month high of $113.33. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90.

Pinnacle Financial Partners (NYSE:PNFPGet Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%.The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. On average, equities analysts forecast that Pinnacle Financial Partners, Inc. will post 10.18 EPS for the current fiscal year.

Key Headlines Impacting Pinnacle Financial Partners

Here are the key news stories impacting Pinnacle Financial Partners this week:

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PNFP shares. Robert W. Baird initiated coverage on shares of Pinnacle Financial Partners in a report on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 price objective on the stock. Truist Financial increased their target price on shares of Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Benchmark assumed coverage on shares of Pinnacle Financial Partners in a research report on Wednesday, June 24th. They set a “buy” rating and a $132.00 price target for the company. Weiss Ratings upgraded shares of Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Pinnacle Financial Partners in a research report on Wednesday, June 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Pinnacle Financial Partners has a consensus rating of “Moderate Buy” and an average target price of $116.89.

Read Our Latest Stock Analysis on PNFP

Pinnacle Financial Partners Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Pinnacle Financial Partners (NYSE:PNFP)

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