Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 231,532 shares of the financial services provider's stock after selling 15,799 shares during the quarter. Envestnet Asset Management Inc. owned 0.30% of Pinnacle Financial Partners worth $26,485,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PNFP. UMB Bank n.a. boosted its stake in shares of Pinnacle Financial Partners by 48.1% during the 4th quarter. UMB Bank n.a. now owns 736 shares of the financial services provider's stock worth $84,000 after acquiring an additional 239 shares in the last quarter. Principal Securities Inc. raised its stake in shares of Pinnacle Financial Partners by 12.7% during the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock worth $92,000 after buying an additional 91 shares during the last quarter. Trust Co. of Vermont acquired a new stake in Pinnacle Financial Partners in the 4th quarter valued at about $97,000. 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 worth $167,000 after acquiring an additional 955 shares during the last quarter. Finally, Blue Trust Inc. lifted 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 valued at $181,000 after purchasing an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company's stock.

Pinnacle Financial Partners Trading Up 0.4 %

PNFP stock traded up $0.36 during midday trading on Friday, reaching $95.11. 548,597 shares of the company's stock traded hands, compared to its average volume of 509,091. Pinnacle Financial Partners, Inc. has a fifty-two week low of $73.62 and a fifty-two week high of $131.91. The business has a 50-day moving average price of $105.27 and a two-hundred day moving average price of $111.75. The company has a market capitalization of $7.36 billion, a P/E ratio of 15.90 and a beta of 0.94. 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 (NASDAQ:PNFP - Get Free Report) last announced its quarterly 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 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 the consensus estimate of $478.11 million. During the same period in the prior year, the firm earned $1.53 EPS. Equities research analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 EPS 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. 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 1.01%. Pinnacle Financial Partners's payout ratio is currently 15.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barclays lowered their target price on Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company cut 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 note on Wednesday, April 9th. Citigroup boosted their price objective on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a "buy" rating in a research 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. Finally, JPMorgan Chase & Co. dropped their target price on Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Pinnacle Financial Partners currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.50.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, CEO M Terry Turner sold 2,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total value of $201,260.00. Following the transaction, the chief executive officer now directly owns 254,552 shares in the company, valued at approximately $25,615,567.76. This trade represents a 0.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David B. Ingram sold 40,000 shares of the stock in a transaction that occurred on 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 sale, the director now owns 40,991 shares in the company, valued at $5,185,361.50. The trade was a 49.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,350 shares of company stock worth $11,421,320 in the last 90 days. 1.46% of the stock is owned by corporate insiders.

About Pinnacle Financial Partners

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.