Captrust Financial Advisors Cuts Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Captrust Financial Advisors trimmed its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,742 shares of the financial services provider's stock after selling 16,166 shares during the quarter. Captrust Financial Advisors owned about 0.09% of Pinnacle Financial Partners worth $8,092,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PNFP. Kapitalo Investimentos Ltda purchased a new position in Pinnacle Financial Partners during the fourth quarter valued at approximately $78,000. UMB Bank n.a. raised its position in Pinnacle Financial Partners by 48.1% during the fourth 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 in the last quarter. Principal Securities Inc. raised its position in Pinnacle Financial Partners by 12.7% during the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after acquiring an additional 91 shares in the last quarter. Trust Co. of Vermont purchased a new position in Pinnacle Financial Partners during the fourth quarter valued at approximately $97,000. Finally, Values First Advisors Inc. raised its position in 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 acquiring an additional 955 shares in the last quarter. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Trading Up 5.1%

Pinnacle Financial Partners stock traded up $5.36 during trading on Monday, reaching $110.91. 487,046 shares of the company were exchanged, compared to its average volume of 500,038. Pinnacle Financial Partners, Inc. has a 52-week low of $73.62 and a 52-week high of $131.91. The company has a market capitalization of $8.58 billion, a P/E ratio of 18.55 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. The stock's 50 day simple moving average is $100.43 and its two-hundred day simple moving average is $112.18.

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

Pinnacle Financial Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 2nd will be given a $0.24 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. Pinnacle Financial Partners's dividend payout ratio is currently 15.53%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PNFP. Keefe, Bruyette & Woods dropped their price objective on Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Stephens reissued an "overweight" rating and issued a $142.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Wells Fargo & Company lowered their price target on Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. lowered their price target on Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Hovde Group raised Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 price target on the stock in a research note on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $119.50.

Insider Buying and Selling at Pinnacle Financial Partners

In related news, Chairman Robert A. Mccabe, Jr. sold 40,000 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $113.81, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glenda Baskin Glover sold 3,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $101.55, for a total value of $304,650.00. Following the completion of the sale, the director now owns 9,943 shares in the company, valued at $1,009,711.65. This represents a 23.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,041 shares of company stock worth $5,062,386 over the last quarter. 1.46% of the stock is currently owned by company insiders.

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.