Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,003,967 shares of the financial services provider's stock after selling 263,415 shares during the period. Dimensional Fund Advisors LP owned about 3.89% of Pinnacle Financial Partners worth $343,623,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PNFP. Barclays PLC boosted its position in Pinnacle Financial Partners by 117.0% in the 3rd quarter. Barclays PLC now owns 167,838 shares of the financial services provider's stock valued at $16,442,000 after buying an additional 90,478 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of Pinnacle Financial Partners during the third quarter valued at approximately $229,000. Principal Financial Group Inc. boosted its holdings in shares of Pinnacle Financial Partners by 27.0% in the third quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider's stock valued at $96,332,000 after purchasing an additional 208,938 shares during the period. Oliver Luxxe Assets LLC grew its stake in Pinnacle Financial Partners by 19.7% in the fourth quarter. Oliver Luxxe Assets LLC now owns 46,667 shares of the financial services provider's stock worth $5,338,000 after purchasing an additional 7,691 shares in the last quarter. Finally, Wedmont Private Capital purchased a new position in Pinnacle Financial Partners during the 4th quarter worth $224,000. Institutional investors own 87.40% of the company's stock.

Pinnacle Financial Partners Stock Performance

PNFP stock traded down $0.07 during midday trading on Friday, reaching $100.28. The stock had a trading volume of 401,228 shares, compared to its average volume of 502,411. The firm has a fifty day simple moving average of $102.45 and a two-hundred day simple moving average of $111.88. Pinnacle Financial Partners, Inc. has a 52-week low of $73.62 and a 52-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 stock has a market cap of $7.76 billion, a PE ratio of 16.77 and a beta of 0.94.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $1.90 earnings per share (EPS) 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%. The firm had revenue of $475.37 million during the quarter, compared to analysts' expectations of $478.11 million. During the same period last year, the business posted $1.53 earnings per share. As a group, equities research analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 2nd will be issued a dividend of $0.24 per share. The ex-dividend date 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 (DPR) is presently 15.53%.

Insider Activity at Pinnacle Financial Partners

In other news, Director David B. Ingram sold 40,000 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $126.50, for a total value of $5,060,000.00. Following the completion of the transaction, the director now owns 40,991 shares of the company's stock, valued at $5,185,361.50. The trade was a 49.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Glenda Baskin Glover sold 3,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $101.55, for a total value of $304,650.00. Following the sale, the director now directly owns 9,943 shares in the company, valued at approximately $1,009,711.65. This trade represents a 23.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,350 shares of company stock worth $11,421,320 over the last three months. Company insiders own 1.46% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PNFP shares. Citigroup increased their price target on Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, December 31st. Stephens reiterated an "overweight" rating and set a $142.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Hovde Group upgraded Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 target price for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods reduced their price target on 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. Finally, Barclays reduced 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 report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $119.50.

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.