Savant Capital LLC Acquires Shares of 2,137 Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Savant Capital LLC bought a new position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 2,137 shares of the financial services provider’s stock, valued at approximately $244,000.

A number of other hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Pinnacle Financial Partners in the 3rd quarter valued at $30,000. Values First Advisors Inc. bought a new stake in shares of Pinnacle Financial Partners in the third quarter valued at about $49,000. Brooklyn Investment Group bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at about $70,000. UMB Bank n.a. increased its holdings 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 valued at $84,000 after acquiring an additional 239 shares during the period. Finally, Trust Co. of Vermont bought a new stake in Pinnacle Financial Partners during the fourth quarter valued at about $97,000. Institutional investors own 87.40% of the company’s stock.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of Pinnacle Financial Partners stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $124.09, for a total transaction of $6,204,500.00. Following the completion of the sale, the chairman now directly owns 123,000 shares in the company, valued at $15,263,070. This trade represents a 28.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Harold R. Carpenter sold 3,051 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $125.57, for a total transaction of $383,114.07. Following the transaction, the chief financial officer now directly owns 60,805 shares of the company’s stock, valued at $7,635,283.85. The trade was a 4.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 126,970 shares of company stock valued at $15,922,061 in the last three months. 1.87% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PNFP has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Hovde Group lowered shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price target on the stock. in a research note on Monday, November 18th. JPMorgan Chase & Co. lowered their price objective on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Stephens restated an “overweight” rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Finally, Barclays raised Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $120.00 to $135.00 in a report on Thursday, December 19th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $125.18.

Pinnacle Financial Partners Stock Up 1.4 %

PNFP opened at $121.91 on Wednesday. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 20.39 and a beta of 1.09. 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 quick ratio of 0.90 and a current ratio of 0.90. The company has a fifty day moving average of $118.66 and a two-hundred day moving average of $109.07.

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

Pinnacle Financial Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 7th will be given a $0.24 dividend. The ex-dividend date is 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 dividend yield of 0.79%. Pinnacle Financial Partners’s dividend payout ratio is 14.72%.

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.