258,400 Shares in Pinnacle Financial Partners, Inc. $PNFP Purchased by Troluce Capital Advisors LLC

Key Points

• Troluce Capital Advisors purchased 258,400 shares of Pinnacle Financial Partners, valued at approximately $22.3 million, giving it a 0.33% stake and making PNFP its 17th-largest holding.
• Institutional ownership remains high at 87.4%, with several firms—including Goldman Sachs, Focus Partners Wealth, Amundi, and Cerity Partners—recently increasing their positions.
• Analysts maintain a generally positive outlook, with PNFP receiving a “Moderate Buy” consensus rating and an average price target of $116.65. The company also exceeded quarterly EPS estimates, reporting $2.50 versus the $2.46 consensus.

Troluce Capital Advisors LLC bought a new stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 258,400 shares of the company's stock, valued at approximately $22,259,000. Pinnacle Financial Partners makes up about 1.4% of Troluce Capital Advisors LLC's holdings, making the stock its 17th biggest holding. Troluce Capital Advisors LLC owned about 0.33% of Pinnacle Financial Partners at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PNFP. Goldman Sachs Group Inc. grew its position in shares of Pinnacle Financial Partners by 6.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company's stock valued at $69,060,000 after purchasing an additional 37,989 shares in the last quarter. Focus Partners Wealth grew its position in Pinnacle Financial Partners by 13.9% during the first quarter. Focus Partners Wealth now owns 4,755 shares of the company's stock worth $504,000 after buying an additional 581 shares in the last quarter. Amundi increased its stake in Pinnacle Financial Partners by 25,700.0% in the 2nd quarter. Amundi now owns 4,386 shares of the company's stock worth $513,000 after acquiring an additional 4,369 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Pinnacle Financial Partners during the 2nd quarter valued at about $229,000. Finally, Cerity Partners LLC boosted its position in shares of Pinnacle Financial Partners by 4.2% during the 2nd quarter. Cerity Partners LLC now owns 26,061 shares of the company's stock valued at $2,877,000 after acquiring an additional 1,039 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PNFP shares. Evercore reissued an "outperform" rating and issued a $120.00 price target on shares of Pinnacle Financial Partners in a report on Monday, July 6th. Stephens raised their target price on Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 30th. UBS Group boosted their price objective on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Piper Sandler increased their target price on Pinnacle Financial Partners from $122.00 to $123.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Truist Financial boosted their price objective on shares of Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Pinnacle Financial Partners currently has an average rating of "Moderate Buy" and an average price target of $116.65.

Pinnacle Financial Partners Stock Down 0.1%

NYSE PNFP opened at $102.53 on Monday. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $107.00. The company's 50-day simple moving average is $97.90. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 0.41 and a beta of 1.04. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.73.

Pinnacle Financial Partners (NYSE:PNFP - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.04. The business had revenue of $1.24 billion during 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%. As a group, equities research analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.18 EPS for the current year.

Pinnacle Financial Partners 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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