Allianz Asset Management GmbH Acquires New Position in Pinnacle Financial Partners, Inc. $PNFP

Allianz Asset Management GmbH bought a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,904 shares of the financial services provider’s stock, valued at approximately $835,000.

Other hedge funds have also modified their holdings of the company. Covestor Ltd increased its stake in shares of Pinnacle Financial Partners by 193.9% in the third quarter. Covestor Ltd now owns 338 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 223 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Pinnacle Financial Partners in the 2nd quarter worth $38,000. Quent Capital LLC bought a new stake in Pinnacle Financial Partners during the third quarter valued at about $34,000. MAI Capital Management lifted its position in shares of Pinnacle Financial Partners by 79.4% in the second quarter. MAI Capital Management now owns 366 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 162 shares in the last quarter. Finally, Spurstone Advisory Services LLC purchased a new position in shares of Pinnacle Financial Partners in the second quarter valued at about $41,000. 87.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. TD Cowen reissued a “buy” rating on shares of Pinnacle Financial Partners in a research note on Wednesday, January 7th. Barclays lifted their price objective on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Royal Bank Of Canada upgraded shares of Pinnacle Financial Partners to a “moderate buy” rating in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pinnacle Financial Partners in a report on Monday, December 29th. Finally, UBS Group set a $106.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and a consensus target price of $113.41.

Insider Buying and Selling

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of Pinnacle Financial Partners stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total transaction of $630,075.00. Following the completion of the transaction, the chairman directly owned 202,505 shares of the company’s stock, valued at $18,832,965. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were purchased at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the transaction, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at approximately $4,677,322.20. The trade was a 2.06% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.46% of the stock is currently owned by insiders.

Pinnacle Financial Partners Stock Up 1.1%

Shares of NASDAQ:PNFP opened at $96.19 on Friday. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.48 and a beta of 1.03. Pinnacle Financial Partners, Inc. has a 12 month low of $81.57 and a 12 month high of $122.01. 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 50-day moving average price of $98.28 and a 200 day moving average price of $93.94.

Pinnacle Financial Partners Dividend Announcement

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

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.