Woodmont Investment Counsel LLC Boosts Position in Pinnacle Financial Partners, Inc. $PNFP

Woodmont Investment Counsel LLC increased its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 43.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,388 shares of the financial services provider’s stock after acquiring an additional 28,445 shares during the quarter. Woodmont Investment Counsel LLC owned about 0.12% of Pinnacle Financial Partners worth $8,853,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in shares of Pinnacle Financial Partners by 6.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the financial services provider’s stock worth $69,060,000 after purchasing an additional 37,989 shares during the period. Focus Partners Wealth raised its stake in Pinnacle Financial Partners by 13.9% in the first quarter. Focus Partners Wealth now owns 4,755 shares of the financial services provider’s stock worth $504,000 after buying an additional 581 shares in the last quarter. Hilltop National Bank purchased a new stake in Pinnacle Financial Partners in the second quarter worth about $140,000. Ameritas Advisory Services LLC bought a new stake in Pinnacle Financial Partners during the 2nd quarter valued at approximately $45,000. Finally, Fenimore Asset Management Inc grew its holdings in shares of Pinnacle Financial Partners by 2.2% during the 2nd quarter. Fenimore Asset Management Inc now owns 1,076,968 shares of the financial services provider’s stock worth $118,908,000 after acquiring an additional 23,552 shares during the period. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Stock Up 0.0%

Shares of Pinnacle Financial Partners stock opened at $94.99 on Monday. The company has a 50-day simple moving average of $97.03 and a two-hundred day simple moving average of $94.33. The stock has a market capitalization of $7.37 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.48 and a beta of 1.02. Pinnacle Financial Partners, Inc. has a 52-week low of $81.57 and a 52-week high of $126.81. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 6th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 24.72%.

Wall Street Analyst Weigh In

PNFP has been the subject of a number of research analyst reports. Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a research note on Monday, January 5th. Bank of America started coverage on shares of Pinnacle Financial Partners in a research report on Monday, December 8th. They issued a “buy” rating and a $113.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Pinnacle Financial Partners from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Piper Sandler upped their price objective on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, UBS Group reaffirmed a “neutral” rating and set a $107.00 target price on shares of Pinnacle Financial Partners in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Pinnacle Financial Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.41.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total value of $630,075.00. Following the completion of the transaction, the chairman owned 202,505 shares in the company, valued at $18,832,965. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.46% of the stock is owned by corporate insiders.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.