Mitsubishi UFJ Trust & Banking Corp Invests $1.83 Million in Pinnacle Financial Partners, Inc. $PNFP

Key Points

• Mitsubishi UFJ Trust & Banking opened a new position in Pinnacle Financial Partners of 19,138 shares (~$1.83M) in Q4, joining several other funds that increased stakes and contributing to institutional ownership of about 87.4%.
• Pinnacle beat quarterly expectations with $2.39 EPS (vs. $2.30) and $1.22B revenue, has a $7.59B market cap and a P/E of 13.56, and announced a $0.50 quarterly dividend ($2.00 annual, 2.0% yield; ex-div May 1, payable May 29).
• Analyst coverage is mixed but generally positive — MarketBeat shows a consensus rating of "Moderate Buy" with an average target price of $114.25, while individual ratings range from Strong Buy to Sell.

Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 19,138 shares of the company's stock, valued at approximately $1,826,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Pinnacle Financial Partners by 97.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 47,073 shares of the company's stock valued at $4,327,000 after acquiring an additional 23,292 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Pinnacle Financial Partners by 585.5% during the third quarter. Jones Financial Companies Lllp now owns 18,419 shares of the company's stock valued at $1,768,000 after acquiring an additional 15,732 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of Pinnacle Financial Partners by 92.4% during the fourth quarter. Yousif Capital Management LLC now owns 46,456 shares of the company's stock valued at $4,519,000 after acquiring an additional 22,306 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Pinnacle Financial Partners during the third quarter valued at about $1,128,000. Finally, Woodmont Investment Counsel LLC grew its stake in shares of Pinnacle Financial Partners by 43.1% during the third quarter. Woodmont Investment Counsel LLC now owns 94,388 shares of the company's stock valued at $8,853,000 after acquiring an additional 28,445 shares in the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.

Pinnacle Financial Partners Stock Performance

Shares of PNFP stock opened at $97.79 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $120.46. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 0.37 and a beta of 1.06.

Pinnacle Financial Partners (NYSE:PNFP - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, beating analysts' consensus estimates 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, research analysts forecast that Pinnacle Financial Partners, Inc. will post 10.38 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, May 1st. Pinnacle Financial Partners's payout ratio is presently 27.74%.

Insider Buying and Selling

In related news, CFO Andrew J. Jr. Gregory bought 1,000 shares of the firm's stock in a transaction on Thursday, February 12th. The stock was bought at an average cost of $94.52 per share, for a total transaction of $94,520.00. Following the completion of the purchase, the chief financial officer directly owned 49,485 shares in the company, valued at approximately $4,677,322.20. The trade was a 2.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PNFP shares. Evercore reiterated an "outperform" rating and issued a $115.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods lifted their price target on Pinnacle Financial Partners from $95.00 to $100.00 and gave the stock a "market perform" rating in a research note on Friday, January 9th. UBS Group lifted their price target on Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Wall Street Zen downgraded Pinnacle Financial Partners from a "hold" rating to a "sell" rating in a research note on Monday. Finally, TD Cowen decreased their price target on Pinnacle Financial Partners from $125.00 to $121.00 and set a "buy" rating for the company in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Pinnacle Financial Partners presently has an average rating of "Moderate Buy" and a consensus target price of $114.25.

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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