Entropy Technologies LP Purchases Shares of 20,143 Pinnacle Financial Partners, Inc. $PNFP

Key Points

• Entropy Technologies LP bought 20,143 shares of Pinnacle Financial Partners valued at approximately $1.735 million, while other institutional investors also increased their positions. Institutional investors collectively own 87.4% of PNFP.
• Analysts maintain a positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $116.82, above its reported price of $103.22.
• Pinnacle exceeded quarterly earnings expectations with $2.50 in EPS versus $2.46 forecast, and announced a quarterly dividend of $0.50 per share, representing a 1.9% annualized yield.

Entropy Technologies LP purchased a new position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 20,143 shares of the company's stock, valued at approximately $1,735,000.

Several other large investors also recently modified their holdings of PNFP. Yousif Capital Management LLC boosted its position in shares of Pinnacle Financial Partners by 92.4% during the 4th quarter. Yousif Capital Management LLC now owns 46,456 shares of the company's stock worth $4,519,000 after purchasing an additional 22,306 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Pinnacle Financial Partners by 122.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 16,188 shares of the company's stock worth $1,544,000 after acquiring an additional 8,927 shares in the last quarter. M&T Bank Corp grew its stake in Pinnacle Financial Partners by 283.3% in the fourth quarter. M&T Bank Corp now owns 27,583 shares of the company's stock valued at $2,632,000 after acquiring an additional 20,386 shares during the period. Impax Asset Management Group plc grew its stake in Pinnacle Financial Partners by 21.0% in the fourth quarter. Impax Asset Management Group plc now owns 421,413 shares of the company's stock valued at $41,298,000 after acquiring an additional 73,176 shares during the period. Finally, Anchor Investment Management LLC bought a new stake in shares of Pinnacle Financial Partners during the first quarter valued at approximately $1,156,000. Institutional investors and hedge funds own 87.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Stephens set a $112.00 target price on Pinnacle Financial Partners in a report on Monday. Citigroup boosted their price target on shares of Pinnacle Financial Partners from $122.00 to $126.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. Benchmark dropped their price objective on shares of Pinnacle Financial Partners from $132.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday. UBS Group lifted their price target on Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Finally, Piper Sandler boosted their price objective on Pinnacle Financial Partners from $122.00 to $123.00 and gave the stock an "overweight" rating in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Pinnacle Financial Partners currently has an average rating of "Moderate Buy" and an average price target of $116.82.

Pinnacle Financial Partners Price Performance

NYSE PNFP opened at $103.22 on Tuesday. The business has a fifty day moving average price of $98.07. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 0.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 0.94. Pinnacle Financial Partners, Inc. has a 1 year low of $81.08 and a 1 year high of $107.00.

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 for the quarter, beating analysts' consensus estimates of $2.46 by $0.04. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. On average, research analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.18 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. Pinnacle Financial Partners's dividend payout ratio (DPR) is currently 27.47%.

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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