Pinnacle Financial Partners, Inc. $PNFP Shares Acquired by Cwm LLC

Key Points

• Cwm LLC raised its stake in Pinnacle Financial Partners by 17.1% in Q4, acquiring 15,961 shares to hold 109,279 shares worth about $10.43 million.
• Significant institutional activity included AQR Capital's huge 1,697.4% increase to 3,267,666 shares and new stakes from Nomura and others, leaving institutional investors with 87.4% ownership of PNFP.
• Analysts have an average rating of Moderate Buy with a consensus price target of $112.25 versus a recent open of $96.94, and the company pays a $0.50 dividend (DPR 24.72%).

Cwm LLC lifted its stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,279 shares of the company's stock after acquiring an additional 15,961 shares during the period. Cwm LLC owned 0.14% of Pinnacle Financial Partners worth $10,426,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PNFP. AQR Capital Management LLC boosted its stake in shares of Pinnacle Financial Partners by 1,697.4% during the third quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company's stock valued at $306,474,000 after acquiring an additional 3,085,867 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Pinnacle Financial Partners during the third quarter valued at $187,822,000. Wellington Management Group LLP boosted its stake in shares of Pinnacle Financial Partners by 51.1% during the third quarter. Wellington Management Group LLP now owns 2,156,749 shares of the company's stock valued at $202,281,000 after acquiring an additional 728,975 shares during the last quarter. Pentwater Capital Management LP acquired a new stake in shares of Pinnacle Financial Partners during the third quarter valued at $42,538,000. Finally, Bank of America Corp DE boosted its stake in shares of Pinnacle Financial Partners by 66.8% during the third quarter. Bank of America Corp DE now owns 828,944 shares of the company's stock valued at $77,747,000 after acquiring an additional 332,092 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PNFP shares. Weiss Ratings started coverage on Pinnacle Financial Partners in a research note on Monday, March 9th. They issued a "hold (c+)" rating on the stock. JPMorgan Chase & Co. decreased their price target on Pinnacle Financial Partners from $120.00 to $105.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 1st. Royal Bank Of Canada raised Pinnacle Financial Partners to a "moderate buy" rating in a research note on Monday, January 5th. TD Cowen raised Pinnacle Financial Partners to a "strong-buy" rating in a research note on Monday, April 13th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Pinnacle Financial Partners in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Pinnacle Financial Partners presently has an average rating of "Moderate Buy" and a consensus price target of $112.25.

Pinnacle Financial Partners Price Performance

Shares of NYSE:PNFP opened at $96.94 on Monday. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 0.33 and a beta of 1.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. Pinnacle Financial Partners, Inc. has a 12-month low of $81.08 and a 12-month high of $120.46.

Pinnacle Financial Partners Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 6th were issued a $0.50 dividend. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners's dividend payout ratio (DPR) is 24.72%.

Insider Activity at Pinnacle Financial Partners

In other news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the business's stock in a transaction dated Thursday, February 12th. The shares were bought at an average cost of $94.52 per share, for a total transaction of $94,520.00. Following the acquisition, the chief financial officer directly owned 49,485 shares in the company, valued at $4,677,322.20. This trade represents a 2.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.46% of the stock is currently owned by company insiders.

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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