ABN Amro Investment Solutions Takes $475,000 Position in Pinnacle Financial Partners, Inc. $PNFP

ABN Amro Investment Solutions bought a new stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,513 shares of the company’s stock, valued at approximately $475,000.

A number of other large investors have also modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of Pinnacle Financial Partners by 63.1% during the fourth quarter. AQR Capital Management LLC now owns 5,330,170 shares of the company’s stock valued at $508,551,000 after acquiring an additional 2,062,504 shares during the period. Dimensional Fund Advisors LP grew its stake in Pinnacle Financial Partners by 80.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,035,295 shares of the company’s stock worth $433,712,000 after buying an additional 2,244,659 shares during the last quarter. State Street Corp grew its stake in Pinnacle Financial Partners by 5.5% during the fourth quarter. State Street Corp now owns 3,451,939 shares of the company’s stock worth $329,350,000 after buying an additional 179,819 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Pinnacle Financial Partners by 42.2% during the fourth quarter. Wellington Management Group LLP now owns 3,067,116 shares of the company’s stock worth $292,634,000 after buying an additional 910,367 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Pinnacle Financial Partners by 9.6% during the fourth quarter. Invesco Ltd. now owns 2,188,080 shares of the company’s stock worth $208,765,000 after buying an additional 191,292 shares in the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Trading Down 0.1%

Shares of NYSE:PNFP opened at $102.53 on Monday. The company has a market cap of $7.95 billion, a PE ratio of 14.08, a P/E/G ratio of 0.41 and a beta of 1.04. Pinnacle Financial Partners, Inc. has a 1-year low of $81.08 and a 1-year high of $107.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.93. The stock’s 50-day moving average price is $97.90.

Pinnacle Financial Partners (NYSE:PNFP) last issued its earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.04. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. As a group, equities analysts predict that Pinnacle Financial Partners, Inc. will post 10.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PNFP. Barclays reduced their target price on Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Robert W. Baird assumed coverage on Pinnacle Financial Partners in a report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price target for the company. Stephens boosted their price objective on Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. UBS Group boosted their price objective on Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. decreased their target price on Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.65.

About Pinnacle Financial Partners

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.