Baird Financial Group Inc. Buys 2,790 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Baird Financial Group Inc. lifted its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 82.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,171 shares of the financial services provider's stock after purchasing an additional 2,790 shares during the quarter. Baird Financial Group Inc.'s holdings in Pinnacle Financial Partners were worth $706,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PNFP. Kapitalo Investimentos Ltda acquired a new position in shares of Pinnacle Financial Partners in the 4th quarter valued at $78,000. UMB Bank n.a. raised 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 valued at $84,000 after buying an additional 239 shares in the last quarter. Principal Securities Inc. raised its stake in shares of Pinnacle Financial Partners by 12.7% in the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after buying an additional 91 shares in the last quarter. Trust Co. of Vermont acquired a new position in shares of Pinnacle Financial Partners in the 4th quarter valued at $97,000. Finally, Values First Advisors Inc. raised its stake in shares of Pinnacle Financial Partners by 189.9% in the 4th quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock valued at $167,000 after buying an additional 955 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company's stock.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, Chairman Robert A. Mccabe, Jr. sold 40,000 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $113.81, for a total value of $4,552,400.00. Following the completion of the sale, the chairman now owns 83,000 shares of the company's stock, valued at approximately $9,446,230. The trade was a 32.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Glenda Baskin Glover sold 3,000 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $101.55, for a total transaction of $304,650.00. Following the sale, the director now directly owns 9,943 shares of the company's stock, valued at $1,009,711.65. This represents a 23.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,041 shares of company stock valued at $5,062,386. 1.46% of the stock is currently owned by corporate insiders.

Pinnacle Financial Partners Trading Down 0.4%

Shares of NASDAQ PNFP traded down $0.42 during mid-day trading on Tuesday, hitting $110.26. The company's stock had a trading volume of 16,451 shares, compared to its average volume of 529,196. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 18.44 and a beta of 1.00. 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, Inc. has a one year low of $73.62 and a one year high of $131.91. The company's fifty day simple moving average is $101.33 and its 200-day simple moving average is $112.47.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last issued its earnings results on Monday, April 14th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.08. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The company had revenue of $475.37 million for the quarter, compared to analyst estimates of $478.11 million. During the same quarter last year, the firm earned $1.53 EPS. On average, sell-side analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 2nd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, May 2nd. Pinnacle Financial Partners's payout ratio is 15.53%.

Analyst Ratings Changes

PNFP has been the subject of a number of recent analyst reports. Hovde Group upgraded shares of Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 target price for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their target price on shares of Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company dropped their target price on shares of Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. dropped their target price on shares of Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Barclays dropped their target price on shares of Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Pinnacle Financial Partners currently has an average rating of "Moderate Buy" and a consensus target price of $119.90.

Pinnacle Financial Partners 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.