Leeward Investments LLC MA Has $31.24 Million Stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Leeward Investments LLC MA lessened its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 294,625 shares of the financial services provider's stock after selling 12,763 shares during the period. Pinnacle Financial Partners makes up about 1.7% of Leeward Investments LLC MA's holdings, making the stock its 4th biggest position. Leeward Investments LLC MA owned 0.38% of Pinnacle Financial Partners worth $31,242,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNFP. Norges Bank purchased a new position in Pinnacle Financial Partners in the 4th quarter worth approximately $101,798,000. North Reef Capital Management LP grew its stake in Pinnacle Financial Partners by 57.1% in the 4th quarter. North Reef Capital Management LP now owns 1,940,000 shares of the financial services provider's stock worth $221,917,000 after buying an additional 705,000 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. purchased a new position in Pinnacle Financial Partners in the 4th quarter worth approximately $78,110,000. Capital Research Global Investors grew its stake in Pinnacle Financial Partners by 57.0% in the 4th quarter. Capital Research Global Investors now owns 1,559,798 shares of the financial services provider's stock worth $178,425,000 after buying an additional 566,061 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Pinnacle Financial Partners in the 4th quarter worth approximately $44,737,000. Institutional investors own 87.40% of the company's stock.

Pinnacle Financial Partners Trading Up 0.7%

PNFP stock traded up $0.83 during midday trading on Friday, hitting $117.83. The company had a trading volume of 381,903 shares, compared to its average volume of 511,535. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. Pinnacle Financial Partners, Inc. has a 52 week low of $76.75 and a 52 week high of $131.91. The stock's 50 day moving average price is $107.34 and its 200 day moving average price is $109.18. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 19.07 and a beta of 1.01.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $0.08. Pinnacle Financial Partners had a net margin of 15.98% and a return on equity of 9.29%. The company had revenue of $475.37 million during the quarter, compared to analyst estimates of $478.11 million. During the same period in the prior year, the business posted $1.53 EPS. As a group, equities research analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 2nd were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 0.81%. Pinnacle Financial Partners's dividend payout ratio is currently 15.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PNFP shares. Keefe, Bruyette & Woods cut their price target on shares of Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Citigroup boosted their target price on Pinnacle Financial Partners from $126.00 to $134.00 and gave the stock a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Pinnacle Financial Partners from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Tuesday. Jefferies Financial Group started coverage on shares of Pinnacle Financial Partners in a research note on Wednesday, May 21st. They set a "buy" rating and a $135.00 price target on the stock. Finally, Truist Financial started coverage on shares of Pinnacle Financial Partners in a report on Tuesday, May 13th. They issued a "buy" rating and a $123.00 price objective for the company. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.36.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.