Dimensional Fund Advisors LP Has $251.38 Million Position in Pinnacle Financial Partners, Inc. $PNFP

Dimensional Fund Advisors LP boosted its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,680,171 shares of the financial services provider’s stock after buying an additional 163,269 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.45% of Pinnacle Financial Partners worth $251,376,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Covestor Ltd grew its holdings in Pinnacle Financial Partners by 193.9% during the 3rd quarter. Covestor Ltd now owns 338 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 223 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Pinnacle Financial Partners during the second quarter valued at $38,000. Quent Capital LLC bought a new position in shares of Pinnacle Financial Partners during the third quarter valued at $34,000. MAI Capital Management lifted its holdings in shares of Pinnacle Financial Partners by 79.4% during the second quarter. MAI Capital Management now owns 366 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 162 shares during the period. Finally, Eastern Bank acquired a new position in shares of Pinnacle Financial Partners during the third quarter worth $37,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was 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 in the company, valued at approximately $4,677,322.20. The trade was a 2.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Trading Down 2.0%

PNFP opened at $88.83 on Friday. Pinnacle Financial Partners, Inc. has a twelve month low of $81.57 and a twelve month high of $120.46. The company has a fifty day moving average of $96.60 and a 200-day moving average of $94.39. The stock has a market cap of $6.89 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 0.48 and a beta of 1.02. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is 24.72%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Citigroup increased their price objective on Pinnacle Financial Partners from $118.00 to $122.00 and gave the company a “buy” rating in a report on Monday, January 26th. Bank of America started coverage on Pinnacle Financial Partners in a report on Monday, December 8th. They set a “buy” rating and a $113.00 target price on the stock. Evercore reaffirmed an “outperform” rating on shares of Pinnacle Financial Partners in a report on Thursday, February 5th. Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a research report on Monday, January 5th. Finally, TD Cowen reissued a “buy” rating on shares of Pinnacle Financial Partners in a research note on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.41.

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.