Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Stock Position Raised by Bessemer Group Inc.

Bessemer Group Inc. lifted its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 4.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 194,655 shares of the financial services provider's stock after buying an additional 7,949 shares during the quarter. Bessemer Group Inc. owned approximately 0.25% of Pinnacle Financial Partners worth $20,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Yorktown Management & Research Co Inc acquired a new stake in Pinnacle Financial Partners during the 1st quarter worth approximately $265,000. Sheets Smith Wealth Management lifted its stake in Pinnacle Financial Partners by 3.6% during the first quarter. Sheets Smith Wealth Management now owns 5,875 shares of the financial services provider's stock worth $623,000 after purchasing an additional 206 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Pinnacle Financial Partners by 14.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 147,502 shares of the financial services provider's stock worth $15,641,000 after purchasing an additional 18,078 shares during the last quarter. Woodmont Investment Counsel LLC increased its position in Pinnacle Financial Partners by 0.8% in the first quarter. Woodmont Investment Counsel LLC now owns 61,432 shares of the financial services provider's stock worth $6,514,000 after buying an additional 510 shares during the period. Finally, Riverwater Partners LLC acquired a new stake in Pinnacle Financial Partners in the first quarter worth $1,151,000. Institutional investors and hedge funds own 87.40% of the company's stock.

Pinnacle Financial Partners Stock Up 0.3%

Shares of Pinnacle Financial Partners stock traded up $0.32 on Friday, hitting $109.56. 770,590 shares of the company traded hands, compared to its average volume of 508,665. Pinnacle Financial Partners, Inc. has a 12-month low of $75.85 and a 12-month high of $131.91. The company has a 50-day moving average price of $105.28 and a 200 day moving average price of $109.36. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.37. The company has a market cap of $8.50 billion, a PE ratio of 17.73 and a beta of 1.02.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $0.08. Pinnacle Financial Partners had a return on equity of 9.29% and a net margin of 15.98%. The company had revenue of $475.37 million during the quarter, compared to the consensus estimate of $478.11 million. During the same period last year, the business earned $1.53 EPS. Sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 2nd were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Friday, May 2nd. Pinnacle Financial Partners's dividend payout ratio (DPR) is presently 15.53%.

Wall Street Analysts Forecast Growth

PNFP has been the topic of a number of research analyst reports. Jefferies Financial Group started coverage on Pinnacle Financial Partners in a report on Wednesday, May 21st. They set a "buy" rating and a $135.00 price target on the stock. Barclays cut their target price on shares of 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. Hovde Group upgraded Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 price target on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their price target on Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. decreased their price objective on Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.27.

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.