Pinnacle Financial Partners, Inc. $PNFP Stock Position Lowered by Federated Hermes Inc.

Federated Hermes Inc. lowered its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 90.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,423 shares of the financial services provider’s stock after selling 50,553 shares during the quarter. Federated Hermes Inc.’s holdings in Pinnacle Financial Partners were worth $509,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNFP. Hussman Strategic Advisors Inc. bought a new position in shares of Pinnacle Financial Partners during the 3rd quarter valued at about $1,970,000. AGP Franklin LLC lifted its stake in Pinnacle Financial Partners by 99.9% during the third quarter. AGP Franklin LLC now owns 43,106 shares of the financial services provider’s stock valued at $4,043,000 after purchasing an additional 21,542 shares during the last quarter. Riverwater Partners LLC boosted its holdings in Pinnacle Financial Partners by 3.4% during the third quarter. Riverwater Partners LLC now owns 11,120 shares of the financial services provider’s stock worth $1,043,000 after buying an additional 365 shares in the last quarter. First Citizens Bank & Trust Co. grew its position in Pinnacle Financial Partners by 2.2% in the third quarter. First Citizens Bank & Trust Co. now owns 11,364 shares of the financial services provider’s stock worth $1,066,000 after buying an additional 241 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Pinnacle Financial Partners in the third quarter valued at $2,215,000. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Price Performance

NASDAQ PNFP opened at $102.38 on Friday. Pinnacle Financial Partners, Inc. has a 1 year low of $81.57 and a 1 year high of $126.06. The company has a fifty day simple moving average of $97.90 and a 200 day simple moving average of $93.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. The company has a market cap of $7.94 billion, a P/E ratio of 13.01, a P/E/G ratio of 0.48 and a beta of 1.03.

Pinnacle Financial Partners Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PNFP shares. JPMorgan Chase & Co. raised their price objective on Pinnacle Financial Partners from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. UBS Group set a $106.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday. Wells Fargo & Company cut their price target on shares of Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, October 17th. Truist Financial set a $100.00 price objective on shares of Pinnacle Financial Partners in a research report on Friday, January 9th. Finally, Citigroup raised their target price on Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.41.

Insider Activity

In related news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total value of $630,075.00. Following the completion of the sale, the chairman owned 202,505 shares in the company, valued at approximately $18,832,965. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.46% of the company’s stock.

About Pinnacle Financial Partners

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.