1,750 Shares in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Bought by Blair William & Co. IL

Blair William & Co. IL acquired a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the 4th quarter, Holdings Channel.com reports. The fund acquired 1,750 shares of the financial services provider’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in shares of Pinnacle Financial Partners by 48.1% in the 4th quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 239 shares in the last quarter. Principal Securities Inc. grew its holdings in Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 91 shares during the period. Trust Co. of Vermont purchased a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at approximately $97,000. Values First Advisors Inc. lifted its holdings in shares of Pinnacle Financial Partners by 189.9% during the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 955 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Pinnacle Financial Partners by 20.6% in the 4th quarter. Blue Trust Inc. now owns 1,586 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Insider Activity

In related news, CEO M Terry Turner sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total transaction of $201,260.00. Following the completion of the transaction, the chief executive officer now directly owns 254,552 shares in the company, valued at approximately $25,615,567.76. The trade was a 0.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Robert A. Mccabe, Jr. sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $113.81, for a total transaction of $4,552,400.00. Following the sale, the chairman now owns 83,000 shares in the company, valued at approximately $9,446,230. The trade was a 32.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,350 shares of company stock valued at $11,421,320 in the last 90 days. Company insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Stock Down 5.1 %

PNFP stock opened at $87.19 on Friday. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 14.58 and a beta of 0.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50-day moving average is $112.41 and its two-hundred day moving average is $112.41. Pinnacle Financial Partners, Inc. has a fifty-two week low of $73.62 and a fifty-two week high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.10. The firm had revenue of $475.34 million for the quarter, compared to analysts’ expectations of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.68 EPS. As a group, analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 7th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, February 7th. This is a boost from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 16.05%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. UBS Group initiated coverage on Pinnacle Financial Partners in a research report on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price objective for the company. Citigroup raised their price target on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. Wells Fargo & Company upped their price objective on Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Hovde Group reduced their target price on Pinnacle Financial Partners from $135.00 to $120.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, Barclays raised Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $120.00 to $135.00 in a report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Pinnacle Financial Partners has a consensus rating of “Hold” and a consensus target price of $123.82.

About Pinnacle Financial Partners

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.