Allspring Global Investments Holdings LLC Acquires Shares of 80,244 Pinnacle Financial Partners, Inc. $PNFP

Allspring Global Investments Holdings LLC bought a new stake in Pinnacle Financial Partners, Inc. (NYSE:PNFPFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 80,244 shares of the company’s stock, valued at approximately $7,049,000. Allspring Global Investments Holdings LLC owned 0.10% of Pinnacle Financial Partners at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Brown Brothers Harriman & Co. purchased a new position in Pinnacle Financial Partners during the 3rd quarter worth $26,000. High Point Wealth Management LLC purchased a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at about $27,000. BOKF NA increased its stake in shares of Pinnacle Financial Partners by 1,204.5% during the third quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after acquiring an additional 265 shares during the period. Activest Wealth Management acquired a new position in shares of Pinnacle Financial Partners during the fourth quarter worth about $28,000. Finally, CIBC Private Wealth Group LLC raised its holdings in Pinnacle Financial Partners by 175.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 339 shares of the company’s stock worth $32,000 after purchasing an additional 216 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 $99.63 on Friday. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 0.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s 50 day moving average price is $97.73. Pinnacle Financial Partners, Inc. has a 12 month low of $81.08 and a 12 month high of $107.14.

Pinnacle Financial Partners (NYSE:PNFPGet Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Pinnacle Financial Partners had a return on equity of 12.42% and a net margin of 15.40%. On average, equities analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.18 earnings per share for the current year.

Pinnacle Financial Partners News Roundup

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

Analyst Ratings Changes

PNFP has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating on shares of Pinnacle Financial Partners in a research report on Wednesday, June 10th. Wall Street Zen raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Barclays reduced their price target on Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Benchmark assumed coverage on Pinnacle Financial Partners in a research note on Wednesday, June 24th. They issued a “buy” rating and a $132.00 price target on the stock. Finally, Robert W. Baird assumed coverage on Pinnacle Financial Partners in a report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $116.89.

View Our Latest Stock Report 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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