Pictet Asset Management Holding SA Grows Stake in Pinnacle Financial Partners, Inc. $PNFP

Key Points

• Pictet Asset Management boosted its stake in Pinnacle Financial Partners by 192.9% in Q4, adding 42,660 shares to hold 64,775 shares valued at about $6.19 million (≈0.08% of the company).
• Pinnacle beat quarterly estimates, reporting EPS of $2.39 versus $2.30 expected and revenue of $1.22 billion versus $1.20 billion, with a market cap of $7.66 billion and a one‑year stock range of $81.08–$120.46.
• The company announced a quarterly dividend of $0.50 (annualized $2.00, ~2.0% yield) payable May 29, and analysts maintain a consensus "Moderate Buy" rating with a $114.25 target price.

Pictet Asset Management Holding SA boosted its position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP - Free Report) by 192.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,775 shares of the company's stock after purchasing an additional 42,660 shares during the quarter. Pictet Asset Management Holding SA owned about 0.08% of Pinnacle Financial Partners worth $6,191,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Lee Danner & Bass Inc. increased its holdings in Pinnacle Financial Partners by 6.0% during the 4th quarter. Lee Danner & Bass Inc. now owns 211,897 shares of the company's stock worth $20,217,000 after purchasing an additional 11,950 shares during the period. UBS Group AG increased its holdings in Pinnacle Financial Partners by 7.7% during the 4th quarter. UBS Group AG now owns 407,372 shares of the company's stock worth $38,867,000 after purchasing an additional 29,074 shares during the period. High Point Wealth Management LLC purchased a new position in Pinnacle Financial Partners during the 4th quarter worth $27,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Pinnacle Financial Partners by 37.1% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 46,246 shares of the company's stock valued at $4,412,000 after acquiring an additional 12,523 shares during the period. Finally, Impax Asset Management Group plc increased its holdings in shares of Pinnacle Financial Partners by 21.0% in the 4th 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. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Price Performance

Pinnacle Financial Partners stock opened at $98.74 on Monday. 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 has a market capitalization of $7.66 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.37 and a beta of 1.06. 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 posted its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.30 by $0.09. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. Research analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.38 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

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

Wall Street Analyst Weigh In

PNFP has been the topic of a number of analyst reports. Evercore reiterated an "outperform" rating and issued a $115.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday. TD Cowen cut their price target on Pinnacle Financial Partners from $125.00 to $121.00 and set a "buy" rating on the stock in a report on Monday, April 27th. 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 report on Friday, April 24th. Piper Sandler lifted their price target on Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an "overweight" rating in a report on Wednesday, January 28th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.25.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the stock in a transaction dated Thursday, February 12th. The stock was purchased at an average price of $94.52 per share, with a total value of $94,520.00. Following the transaction, the chief financial officer directly owned 49,485 shares of the company's stock, valued at $4,677,322.20. This trade represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.

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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