Nomura Holdings Inc. Makes New $1.16 Million Investment in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Nomura Holdings Inc. acquired a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 10,155 shares of the financial services provider's stock, valued at approximately $1,162,000.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Pinnacle Financial Partners by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 7,200,386 shares of the financial services provider's stock valued at $823,652,000 after purchasing an additional 87,058 shares during the period. FMR LLC raised its stake in Pinnacle Financial Partners by 10.6% during the 4th quarter. FMR LLC now owns 3,003,310 shares of the financial services provider's stock valued at $343,549,000 after purchasing an additional 286,894 shares during the period. North Reef Capital Management LP raised its stake in Pinnacle Financial Partners by 57.1% during the 4th quarter. North Reef Capital Management LP now owns 1,940,000 shares of the financial services provider's stock valued at $221,917,000 after purchasing an additional 705,000 shares during the period. Capital Research Global Investors raised its stake in Pinnacle Financial Partners by 57.0% during the 4th quarter. Capital Research Global Investors now owns 1,559,798 shares of the financial services provider's stock valued at $178,425,000 after purchasing an additional 566,061 shares during the period. Finally, Wellington Management Group LLP raised its stake in Pinnacle Financial Partners by 16.5% during the 4th quarter. Wellington Management Group LLP now owns 1,504,254 shares of the financial services provider's stock valued at $172,072,000 after purchasing an additional 213,505 shares during the period. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ PNFP traded down $0.49 during midday trading on Friday, reaching $105.55. 222,496 shares of the stock traded hands, compared to its average volume of 503,736. 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 has a market capitalization of $8.19 billion, a PE ratio of 17.65 and a beta of 1.00. Pinnacle Financial Partners, Inc. has a one year low of $73.62 and a one year high of $131.91. The company's 50 day moving average is $101.65 and its 200 day moving average is $112.35.

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

Pinnacle Financial Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 2nd will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Pinnacle Financial Partners's dividend payout ratio is presently 15.53%.

Insider Buying and Selling

In related news, Director Glenda Baskin Glover sold 3,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was 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 directly owns 9,943 shares in the company, valued at $1,009,711.65. This trade represents a 23.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO M Terry Turner sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total value 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 approximately $25,615,567.76. This represents a 0.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,041 shares of company stock worth $5,062,386 over the last three months. 1.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PNFP. Barclays decreased their target price on Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. decreased their target price 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. Truist Financial started coverage on Pinnacle Financial Partners in a report on Tuesday, May 13th. They set a "buy" rating and a $123.00 price objective on the stock. Jefferies Financial Group started coverage on Pinnacle Financial Partners in a research report on Wednesday. They set a "buy" rating and a $135.00 target price for the company. Finally, 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 research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $121.27.

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.