B. Metzler seel. Sohn & Co. AG Buys 5,720 Shares of Pinnacle Financial Partners, Inc. $PNFP

Key Points

• B. Metzler seel. Sohn & Co. AG has increased its holdings in Pinnacle Financial Partners by 20.6%, owning a total of 33,508 shares valued at approximately $3.55 million as of the end of the first quarter.
• Several hedge funds have made new investments in Pinnacle Financial Partners, contributing to a total institutional ownership of 87.40% of the company's stock.
• Pinnacle Financial Partners reported $2.00 earnings per share for its last quarter, beating estimates by $0.08, and is expected to post earnings of $7.85 per share for the current fiscal year.

B. Metzler seel. Sohn & Co. AG grew its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 20.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,508 shares of the financial services provider's stock after acquiring an additional 5,720 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Pinnacle Financial Partners were worth $3,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Pinnacle Financial Partners by 5.9% during the first quarter. Wellington Management Group LLP now owns 1,592,536 shares of the financial services provider's stock worth $168,873,000 after purchasing an additional 88,282 shares during the last quarter. Azora Capital LP boosted its stake in shares of Pinnacle Financial Partners by 39.2% in the 4th quarter. Azora Capital LP now owns 913,936 shares of the financial services provider's stock worth $104,545,000 after buying an additional 257,347 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Pinnacle Financial Partners by 3.9% in the 1st quarter. Principal Financial Group Inc. now owns 881,347 shares of the financial services provider's stock worth $93,458,000 after buying an additional 32,975 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Pinnacle Financial Partners by 22.4% in the fourth quarter. Northern Trust Corp now owns 685,795 shares of the financial services provider's stock valued at $78,448,000 after acquiring an additional 125,431 shares in the last quarter. Finally, Artemis Investment Management LLP increased its position in shares of Pinnacle Financial Partners by 11.7% during the first quarter. Artemis Investment Management LLP now owns 538,997 shares of the financial services provider's stock valued at $57,155,000 after acquiring an additional 56,325 shares during the last quarter. Hedge funds and other institutional investors own 87.40% of the company's stock.

Insider Activity at Pinnacle Financial Partners

In other news, Director G Kennedy Thompson purchased 10,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were purchased at an average price of $85.65 per share, with a total value of $856,500.00. Following the completion of the acquisition, the director owned 28,372 shares in the company, valued at $2,430,061.80. This trade represents a 54.43% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Harold R. Carpenter acquired 1,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average price of $89.73 per share, for a total transaction of $89,730.00. Following the transaction, the chief financial officer directly owned 105,050 shares of the company's stock, valued at $9,426,136.50. This represents a 0.96% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 12,174 shares of company stock valued at $1,047,079. Corporate insiders own 1.46% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group reissued a "hold" rating and issued a $110.00 price objective (down previously from $145.00) on shares of Pinnacle Financial Partners in a research report on Friday, July 25th. Barclays reduced their price target on shares of Pinnacle Financial Partners from $140.00 to $125.00 and set an "overweight" rating for the company in a research report on Monday, July 28th. JPMorgan Chase & Co. lifted their price objective on shares of Pinnacle Financial Partners from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Wells Fargo & Company reduced their target price on shares of Pinnacle Financial Partners from $125.00 to $110.00 and set an "equal weight" rating for the company in a research report on Friday, July 25th. Finally, Citigroup lowered their price target on shares of Pinnacle Financial Partners from $140.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Pinnacle Financial Partners currently has an average rating of "Hold" and an average price target of $114.80.

Pinnacle Financial Partners Stock Performance

PNFP stock traded up $0.39 during midday trading on Friday, reaching $97.22. 1,267,301 shares of the company's stock traded hands, compared to its average volume of 1,476,896. The firm has a market capitalization of $7.54 billion, a PE ratio of 12.89 and a beta of 1.07. The company has a 50-day moving average price of $102.67 and a two-hundred day moving average price of $103.96. Pinnacle Financial Partners, Inc. has a 52 week low of $81.57 and a 52 week high of $131.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.89.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.92 by $0.08. Pinnacle Financial Partners had a return on equity of 9.60% and a net margin of 18.69%.The company had revenue of $504.99 million for the quarter, compared to analyst estimates of $495.27 million. During the same period in the previous year, the company posted $1.63 EPS. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, equities analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.96 annualized dividend and a yield of 1.0%. Pinnacle Financial Partners's payout ratio is currently 12.73%.

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.