16,189 Shares in Pinnacle Financial Partners, Inc. $PNFP Bought by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG purchased 16,189 shares of Pinnacle Financial Partners in the second quarter, valued at approximately $1.63 million. Institutional investors collectively own 87.4% of the company.
• Pinnacle Financial Partners exceeded quarterly earnings expectations, reporting $2.50 in EPS versus the $2.46 consensus estimate, while revenue reached $1.24 billion. The company also declared a quarterly dividend of $0.50 per share, representing a 2.0% annualized yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $118.35, above its reported opening price of $102.37.

B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,189 shares of the company's stock, valued at approximately $1,633,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Resources Management Corp CT ADV bought a new stake in Pinnacle Financial Partners in the 1st quarter worth approximately $26,000. Brown Brothers Harriman & Co. bought a new position in shares of Pinnacle Financial Partners during the 3rd quarter valued at approximately $26,000. High Point Wealth Management LLC purchased a new position in shares of Pinnacle Financial Partners in the fourth quarter valued at $27,000. BOKF NA grew its holdings in shares of Pinnacle Financial Partners by 1,204.5% in the third quarter. BOKF NA now owns 287 shares of the company's stock valued at $27,000 after purchasing an additional 265 shares in the last quarter. Finally, Activest Wealth Management bought a new stake in Pinnacle Financial Partners in the fourth quarter worth $28,000. 87.40% of the stock is currently owned by institutional investors.

Insider Transactions at Pinnacle Financial Partners

In related news, insider M Terry Turner sold 66,783 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $108.01, for a total value of $7,213,231.83. Following the transaction, the insider owned 302,230 shares of the company's stock, valued at $32,643,862.30. This represents a 18.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert A. Mccabe, Jr. bought 10,013 shares of the stock in a transaction on Friday, July 24th. The stock was purchased at an average price of $99.90 per share, with a total value of $1,000,298.70. Following the completion of the acquisition, the insider directly owned 324,233 shares in the company, valued at approximately $32,390,876.70. This trade represents a 3.19% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 177,228 shares of company stock worth $19,153,713 over the last 90 days. Insiders own 1.30% of the company's stock.

Pinnacle Financial Partners Stock Up 0.1%

PNFP opened at $102.37 on Monday. The firm's fifty day simple moving average is $101.63. The stock has a market cap of $7.94 billion, a PE ratio of 14.06, a P/E/G ratio of 0.41 and a beta of 1.03. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73. Pinnacle Financial Partners, Inc. has a 52-week low of $81.08 and a 52-week high of $110.33.

Pinnacle Financial Partners (NYSE:PNFP - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.46 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%. Equities analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.19 EPS for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 7th. Pinnacle Financial Partners's payout ratio is 27.47%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Benchmark increased their price objective on shares of Pinnacle Financial Partners from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. DA Davidson upped their price objective on Pinnacle Financial Partners from $109.00 to $112.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Stephens set a $112.00 price objective on Pinnacle Financial Partners in a research note on Monday, July 27th. Robert W. Baird initiated coverage on Pinnacle Financial Partners in a report on Tuesday, May 19th. They issued an "outperform" rating and a $115.00 target price for the company. Finally, Evercore reissued an "outperform" rating and set a $120.00 target price on shares of Pinnacle Financial Partners in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $118.35.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners NYSE: PNFP is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.

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