Canada Pension Plan Investment Board Takes Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Canada Pension Plan Investment Board acquired a new position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,200 shares of the financial services provider's stock, valued at approximately $4,484,000. Canada Pension Plan Investment Board owned approximately 0.05% of Pinnacle Financial Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. UMB Bank n.a. increased its holdings in Pinnacle Financial Partners by 48.1% in the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider's stock valued at $84,000 after purchasing an additional 239 shares during the last quarter. Principal Securities Inc. increased its holdings 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. Trust Co. of Vermont bought a new stake in shares of Pinnacle Financial Partners in the fourth quarter worth about $97,000. Values First Advisors Inc. increased its holdings in shares of Pinnacle Financial Partners by 189.9% in the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock worth $167,000 after acquiring an additional 955 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Pinnacle Financial Partners by 20.6% in the fourth quarter. Blue Trust Inc. now owns 1,586 shares of the financial services provider's stock worth $181,000 after acquiring an additional 271 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Citigroup increased their price target on Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a "buy" rating in a report on Tuesday, December 31st. Hovde Group upgraded Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 price target for the company in a report on Wednesday, April 16th. Wells Fargo & Company decreased their price objective on Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price objective on Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Stephens reiterated an "overweight" rating and set a $142.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $119.50.

Pinnacle Financial Partners Stock Down 0.1 %

PNFP traded down $0.06 during trading on Monday, reaching $100.22. 383,183 shares of the stock were exchanged, compared to its average volume of 502,150. The stock has a market cap of $7.75 billion, a P/E ratio of 16.76 and a beta of 0.94. Pinnacle Financial Partners, Inc. has a twelve month low of $73.62 and a twelve month high of $131.91. The stock's 50 day moving average price is $102.04 and its two-hundred day moving average price is $112.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $1.90 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 firm had revenue of $475.37 million for the quarter, compared to the consensus estimate of $478.11 million. During the same period in the previous year, the company earned $1.53 earnings per share. Equities analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

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

Insider Buying and Selling at Pinnacle Financial Partners

In related news, CEO M Terry Turner sold 2,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total transaction of $201,260.00. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David B. Ingram sold 40,000 shares of the company's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $126.50, for a total transaction of $5,060,000.00. Following the sale, the director now directly owns 40,991 shares of the company's stock, valued at $5,185,361.50. This represents a 49.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,350 shares of company stock worth $11,421,320 over the last ninety days. Insiders own 1.46% of the company's stock.

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.