Citigroup Inc. Has $8.63 Million Stock Position in Pinnacle Financial Partners, Inc. $PNFP

Citigroup Inc. raised its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 38.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,054 shares of the financial services provider’s stock after purchasing an additional 25,395 shares during the quarter. Citigroup Inc. owned 0.12% of Pinnacle Financial Partners worth $8,634,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in Pinnacle Financial Partners in the 2nd quarter valued at approximately $113,461,000. The Manufacturers Life Insurance Company lifted its stake in shares of Pinnacle Financial Partners by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,010,422 shares of the financial services provider’s stock valued at $111,561,000 after acquiring an additional 31,858 shares during the last quarter. Channing Capital Management LLC lifted its stake in shares of Pinnacle Financial Partners by 1.8% in the 2nd quarter. Channing Capital Management LLC now owns 671,556 shares of the financial services provider’s stock valued at $74,146,000 after acquiring an additional 12,162 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Pinnacle Financial Partners by 0.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 652,562 shares of the financial services provider’s stock valued at $72,049,000 after acquiring an additional 3,441 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Pinnacle Financial Partners by 6.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the financial services provider’s stock worth $69,060,000 after acquiring an additional 37,989 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PNFP. Bank of America initiated coverage on Pinnacle Financial Partners in a research report on Monday, December 8th. They issued a “buy” rating and a $113.00 target price for the company. Evercore reiterated an “outperform” rating on shares of Pinnacle Financial Partners in a report on Thursday, February 5th. Raymond James Financial reissued a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. Royal Bank Of Canada upgraded shares of Pinnacle Financial Partners to a “moderate buy” rating in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. raised 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 note on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Pinnacle Financial Partners has an average rating of “Moderate Buy” and a consensus target price of $113.41.

Insider Transactions at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were purchased at an average cost of $94.52 per share, for a total transaction of $94,520.00. Following the acquisition, the chief financial officer owned 49,485 shares of the company’s stock, valued at approximately $4,677,322.20. This represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Price Performance

PNFP stock opened at $90.58 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 0.48 and a beta of 1.03. The company’s fifty day simple moving average is $97.63 and its 200 day simple moving average is $94.47. Pinnacle Financial Partners, Inc. has a 12-month low of $81.57 and a 12-month high of $120.46.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were issued a $0.50 dividend. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s payout ratio is presently 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.