Wells Fargo & Company MN Has $14.86 Million Stock Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Wells Fargo & Company MN lifted its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 0.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 129,921 shares of the financial services provider’s stock after purchasing an additional 724 shares during the quarter. Wells Fargo & Company MN owned 0.17% of Pinnacle Financial Partners worth $14,862,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Principal Securities Inc. increased its position in shares of 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 acquiring an additional 91 shares in the last quarter. Sage Mountain Advisors LLC raised its stake in Pinnacle Financial Partners by 0.3% during the 4th quarter. Sage Mountain Advisors LLC now owns 36,198 shares of the financial services provider’s stock valued at $4,141,000 after purchasing an additional 99 shares during the period. First Horizon Advisors Inc. raised its stake in Pinnacle Financial Partners by 3.1% during the 4th quarter. First Horizon Advisors Inc. now owns 3,399 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 102 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Pinnacle Financial Partners by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 2,424 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 129 shares in the last quarter. Finally, TBH Global Asset Management LLC boosted its position in shares of Pinnacle Financial Partners by 2.6% in the fourth quarter. TBH Global Asset Management LLC now owns 5,850 shares of the financial services provider’s stock worth $669,000 after buying an additional 149 shares during the period. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ:PNFP opened at $92.20 on Tuesday. The stock has a market capitalization of $7.13 billion, a P/E ratio of 15.42 and a beta of 0.94. The business has a 50-day moving average of $107.03 and a two-hundred day moving average of $112.01. Pinnacle Financial Partners, Inc. has a fifty-two week low of $73.62 and a fifty-two week high of $131.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Monday, April 14th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.08. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. During the same period last year, the company posted $1.53 earnings per share. On average, equities research analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were paid a $0.24 dividend. The ex-dividend date was Friday, February 7th. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 1.04%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 16.05%.

Insider Buying and Selling

In other Pinnacle Financial Partners news, Director Glenda Baskin Glover sold 3,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $101.55, for a total value of $304,650.00. Following the transaction, the director now directly owns 9,943 shares of the company’s stock, valued at $1,009,711.65. The trade was a 23.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO M Terry Turner sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total value of $201,260.00. Following the completion of the sale, the chief executive officer now directly owns 254,552 shares of the company’s stock, valued at $25,615,567.76. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,350 shares of company stock worth $11,421,320 in the last quarter. 1.46% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PNFP shares. Wells Fargo & Company reduced their price objective on Pinnacle Financial Partners from $125.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. UBS Group initiated coverage on shares of Pinnacle Financial Partners in a report on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price target for the company. Hovde Group dropped their price objective on shares of Pinnacle Financial Partners from $135.00 to $120.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 2nd. Stephens reiterated an “overweight” rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Pinnacle Financial Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.70.

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.