Jefferies Financial Group Inc. Has $11.03 Million Stake in Pinnacle Financial Partners, Inc. $PNFP

Key Points

• Jefferies Financial Group cut its stake in Pinnacle Financial Partners by 10.8% in the fourth quarter, but still held 115,632 shares worth about $11.03 million.
• Pinnacle Financial Partners reported better-than-expected quarterly results, posting EPS of $2.39 versus the $2.30 consensus and revenue of $1.22 billion versus estimates of $1.20 billion.
• The company also declared a quarterly dividend of $0.50 per share, implying an annualized dividend of $2.00 and a yield of about 2.1%.

Jefferies Financial Group Inc. decreased its holdings in Pinnacle Financial Partners, Inc. (NYSE:PNFP - Free Report) by 10.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,632 shares of the company's stock after selling 13,953 shares during the quarter. Jefferies Financial Group Inc. owned 0.15% of Pinnacle Financial Partners worth $11,032,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PNFP. Profund Advisors LLC increased its holdings in Pinnacle Financial Partners by 4.6% in the 3rd quarter. Profund Advisors LLC now owns 2,895 shares of the company's stock valued at $272,000 after buying an additional 127 shares during the period. Diversified Trust Co. increased its holdings in Pinnacle Financial Partners by 0.3% in the 4th quarter. Diversified Trust Co. now owns 54,349 shares of the company's stock valued at $5,185,000 after buying an additional 137 shares during the period. Whittier Trust Co. increased its holdings in Pinnacle Financial Partners by 10.1% in the 4th quarter. Whittier Trust Co. now owns 1,521 shares of the company's stock valued at $145,000 after buying an additional 140 shares during the period. PNC Financial Services Group Inc. increased its holdings in Pinnacle Financial Partners by 3.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,097 shares of the company's stock valued at $486,000 after buying an additional 158 shares during the period. Finally, Hunter Perkins Capital Management LLC increased its holdings in Pinnacle Financial Partners by 1.3% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 12,850 shares of the company's stock valued at $1,226,000 after buying an additional 165 shares during the period. Institutional investors and hedge funds own 87.40% of the company's stock.

Pinnacle Financial Partners Trading Down 0.0%

Shares of Pinnacle Financial Partners stock opened at $97.12 on Monday. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 0.37 and a beta of 1.06. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. The firm's 50 day moving average is $91.84. Pinnacle Financial Partners, Inc. has a 1 year low of $81.08 and a 1 year high of $120.46.

Pinnacle Financial Partners (NYSE:PNFP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.09. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. As a group, research analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.34 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. Pinnacle Financial Partners's payout ratio is 27.74%.

Analyst Ratings Changes

Several research firms have commented on PNFP. JPMorgan Chase & Co. raised their target price on shares of Pinnacle Financial Partners from $105.00 to $120.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Stephens raised their target price on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the company an "equal weight" rating in a report on Thursday, April 30th. Barclays decreased their target price on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Truist Financial raised their target price 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. Finally, Piper Sandler raised their target price on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an "overweight" rating in a report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $115.18.

About Pinnacle Financial Partners

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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