Pinnacle Financial Partners, Inc. $PNFP Shares Sold by Anderson Hoagland & Co.

Anderson Hoagland & Co. lessened its stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 51.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,711 shares of the company’s stock after selling 9,315 shares during the quarter. Anderson Hoagland & Co.’s holdings in Pinnacle Financial Partners were worth $831,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC raised its position in Pinnacle Financial Partners by 1,697.4% during the 3rd quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company’s stock worth $306,474,000 after buying an additional 3,085,867 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Pinnacle Financial Partners during the third quarter worth about $187,822,000. Norges Bank purchased a new position in Pinnacle Financial Partners during the second quarter worth about $113,461,000. Wellington Management Group LLP raised its holdings in Pinnacle Financial Partners by 51.1% during the third quarter. Wellington Management Group LLP now owns 2,156,749 shares of the company’s stock worth $202,281,000 after purchasing an additional 728,975 shares in the last quarter. Finally, Pentwater Capital Management LP acquired a new stake in Pinnacle Financial Partners in the third quarter valued at about $42,538,000. 87.40% of the stock is owned by institutional investors and hedge funds.

Pinnacle Financial Partners Stock Up 1.1%

NYSE PNFP opened at $82.97 on Friday. The company has a market capitalization of $6.44 billion, a P/E ratio of 9.76, a PEG ratio of 0.37 and a beta of 1.02. Pinnacle Financial Partners, Inc. has a 1-year low of $81.08 and a 1-year high of $120.46. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32.

Pinnacle Financial Partners Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PNFP shares. Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a research report on Monday, January 5th. Truist Financial set a $100.00 price target on Pinnacle Financial Partners in a report on Friday, January 9th. Keefe, Bruyette & Woods lifted their price target on Pinnacle Financial Partners from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Friday, January 9th. Piper Sandler upped their price objective on Pinnacle Financial Partners from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Finally, Evercore reiterated an “outperform” rating on shares of Pinnacle Financial Partners in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.41.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was acquired at an average cost of $94.52 per share, with a total value of $94,520.00. Following the purchase, the chief financial officer directly owned 49,485 shares in the company, valued at approximately $4,677,322.20. This trade represents a 2.06% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.46% of the stock is currently owned by company insiders.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.