Pinnacle Financial Partners, Inc. $PNFP Shares Purchased by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC boosted its stake in Pinnacle Financial Partners by 179.9%, adding 24,668 shares to hold 38,379 shares worth about $3.6 million at the end of the quarter.
• CFO Andrew J. Jr. Gregory purchased 1,000 shares at an average $94.52 on Feb. 12, raising his direct holdings to 49,485 shares (≈$4.68 million); insiders own 1.46% while institutional investors hold 87.40% of the stock.
• Analysts have a consensus rating of "Moderate Buy" with a $113.41 target; Pinnacle trades at a PE of 10.82, market cap ≈$6.6B, and recently paid a $0.50 per-share dividend (payout ratio 24.72%).

Magnetar Financial LLC boosted its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 179.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,379 shares of the financial services provider's stock after acquiring an additional 24,668 shares during the quarter. Magnetar Financial LLC's holdings in Pinnacle Financial Partners were worth $3,600,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PNFP. Covestor Ltd boosted its position in Pinnacle Financial Partners by 193.9% in the 3rd quarter. Covestor Ltd now owns 338 shares of the financial services provider's stock worth $32,000 after purchasing an additional 223 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Pinnacle Financial Partners during the 3rd quarter valued at approximately $34,000. Eastern Bank acquired a new position in shares of Pinnacle Financial Partners in the 3rd quarter valued at $37,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Pinnacle Financial Partners in the 2nd quarter valued at $38,000. Finally, MAI Capital Management boosted its holdings in Pinnacle Financial Partners by 79.4% during the second quarter. MAI Capital Management now owns 366 shares of the financial services provider's stock worth $40,000 after buying an additional 162 shares in the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ PNFP opened at $85.12 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a fifty day moving average of $95.93 and a 200 day moving average of $94.24. The firm has a market cap of $6.60 billion, a PE ratio of 10.82, a PEG ratio of 0.48 and a beta of 1.02. Pinnacle Financial Partners, Inc. has a one year low of $81.57 and a one year high of $120.46.

Pinnacle Financial Partners Announces Dividend

The business also recently announced a dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 6th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, February 6th. Pinnacle Financial Partners's payout ratio is currently 24.72%.

Insider Activity at Pinnacle Financial Partners

In related news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the transaction, the chief financial officer directly owned 49,485 shares in the company, valued at approximately $4,677,322.20. This trade represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on PNFP shares. UBS Group set a $106.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday, February 4th. JPMorgan Chase & Co. upped their price objective on shares of Pinnacle Financial Partners from $110.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 16th. Weiss Ratings reissued a "hold (c)" rating on shares of Pinnacle Financial Partners in a research note on Monday, December 29th. Piper Sandler raised their target price on Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an "overweight" rating in a research report on Wednesday, January 28th. Finally, Citigroup lifted their price target on Pinnacle Financial Partners from $118.00 to $122.00 and gave the company a "buy" rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $113.41.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc NASDAQ: PNFP is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle's client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.

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