5,634 Shares in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Bought by LMR Partners LLP

LMR Partners LLP acquired a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the third quarter, Holdings Channel reports. The firm acquired 5,634 shares of the financial services provider’s stock, valued at approximately $552,000.

Several other large investors have also bought and sold shares of PNFP. International Assets Investment Management LLC acquired a new stake in shares of Pinnacle Financial Partners in the second quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in Pinnacle Financial Partners during the 3rd quarter valued at approximately $30,000. Versant Capital Management Inc lifted its position in shares of Pinnacle Financial Partners by 44.5% in the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 133 shares during the period. UMB Bank n.a. lifted its position in shares of Pinnacle Financial Partners by 83.4% in the 3rd quarter. UMB Bank n.a. now owns 497 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 226 shares during the period. Finally, Values First Advisors Inc. acquired a new stake in shares of Pinnacle Financial Partners during the third quarter worth $49,000. 87.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PNFP. Stephens boosted their target price on shares of Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Truist Financial upped their target price on Pinnacle Financial Partners from $113.00 to $119.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company raised their target price on Pinnacle Financial Partners from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Citigroup boosted their price target on Pinnacle Financial Partners from $113.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Hovde Group downgraded shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price objective for the company. in a research report on Monday. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $108.70.

Pinnacle Financial Partners Price Performance

Shares of PNFP opened at $122.66 on Wednesday. The business’s fifty day moving average is $103.46 and its 200 day moving average is $91.86. Pinnacle Financial Partners, Inc. has a 12-month low of $70.03 and a 12-month high of $129.38. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. The stock has a market cap of $9.48 billion, a P/E ratio of 23.32 and a beta of 1.04.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.07. The firm had revenue of $810.11 million for the quarter, compared to analyst estimates of $454.18 million. Pinnacle Financial Partners had a net margin of 13.97% and a return on equity of 8.89%. During the same period last year, the firm earned $1.79 earnings per share. Sell-side analysts anticipate that Pinnacle Financial Partners, Inc. will post 6.8 earnings per share for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.88 dividend on an annualized basis and a yield of 0.72%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 16.73%.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.