Dimensional Fund Advisors LP Has $433.71 Million Stock Position in Pinnacle Financial Partners, Inc. $PNFP

Dimensional Fund Advisors LP increased its holdings in Pinnacle Financial Partners, Inc. (NYSE:PNFP - Free Report) by 80.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,035,295 shares of the company's stock after acquiring an additional 2,244,659 shares during the period. Dimensional Fund Advisors LP owned about 6.49% of Pinnacle Financial Partners worth $433,712,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PNFP. AQR Capital Management LLC increased its holdings in shares of Pinnacle Financial Partners by 63.1% in the 4th quarter. AQR Capital Management LLC now owns 5,330,170 shares of the company's stock valued at $508,551,000 after purchasing an additional 2,062,504 shares during the period. State Street Corp boosted its holdings in shares of Pinnacle Financial Partners by 5.5% during the fourth quarter. State Street Corp now owns 3,451,939 shares of the company's stock worth $329,350,000 after purchasing an additional 179,819 shares during the period. Wellington Management Group LLP grew its position in Pinnacle Financial Partners by 42.2% during the fourth quarter. Wellington Management Group LLP now owns 3,067,116 shares of the company's stock valued at $292,634,000 after purchasing an additional 910,367 shares in the last quarter. Invesco Ltd. grew its position in Pinnacle Financial Partners by 9.6% during the fourth quarter. Invesco Ltd. now owns 2,188,080 shares of the company's stock valued at $208,765,000 after purchasing an additional 191,292 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in Pinnacle Financial Partners during the third quarter valued at approximately $187,822,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stephens increased their target price on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 30th. Truist Financial boosted their price target on shares of Pinnacle Financial Partners from $114.00 to $115.00 and gave the company a "buy" rating in a report on Monday, May 11th. Barclays dropped their price target on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Citigroup increased their price objective on Pinnacle Financial Partners from $122.00 to $126.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Pinnacle Financial Partners from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, July 1st. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $116.89.

Pinnacle Financial Partners Price Performance

NYSE PNFP opened at $99.49 on Tuesday. Pinnacle Financial Partners, Inc. has a fifty-two week low of $81.08 and a fifty-two week high of $119.68. The company's 50-day moving average is $97.58. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 0.40 and a beta of 1.04. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42.

Pinnacle Financial Partners (NYSE:PNFP - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.09. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%.The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. On average, equities analysts expect that Pinnacle Financial Partners, Inc. will post 10.18 EPS for the current year.

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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