Pinnacle Financial Partners, Inc. $PNFP Shares Sold by M Holdings Securities Inc.

Key Points

• M Holdings Securities reduced its Pinnacle Financial Partners stake by 25.2% in the second quarter, selling 13,623 shares and retaining 40,533 shares worth approximately $3.9 million. Institutional investors collectively own 87.4% of PNFP.
• PNFP reported quarterly earnings of $2.50 per share, exceeding analysts’ $2.46 estimate, on revenue of $1.24 billion. The company also maintains a $0.50 quarterly dividend, equivalent to a 2.0% annual yield.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $118.35, above the reported share price of $101.08; however, insiders have sold $19.2 million of stock over the past 90 days.

M Holdings Securities Inc. reduced its position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP - Free Report) by 25.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,533 shares of the company's stock after selling 13,623 shares during the period. M Holdings Securities Inc. owned approximately 0.05% of Pinnacle Financial Partners worth $3,906,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNFP. Northwestern Mutual Wealth Management Co. grew its stake in shares of Pinnacle Financial Partners by 1.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company's stock worth $704,000 after purchasing an additional 116 shares during the last quarter. Villanova Investment Management Co LLC boosted its holdings in Pinnacle Financial Partners by 0.4% during the fourth quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company's stock worth $2,720,000 after buying an additional 118 shares in the last quarter. Simplicity Wealth LLC boosted its holdings in Pinnacle Financial Partners by 1.5% during the first quarter. Simplicity Wealth LLC now owns 9,155 shares of the company's stock worth $789,000 after buying an additional 131 shares in the last quarter. Graham Capital Management L.P. increased its holdings in shares of Pinnacle Financial Partners by 0.7% in the fourth quarter. Graham Capital Management L.P. now owns 22,169 shares of the company's stock valued at $2,115,000 after buying an additional 146 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Pinnacle Financial Partners by 3.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,097 shares of the company's stock valued at $486,000 after buying an additional 158 shares in the last quarter. 87.40% of the stock is currently owned by institutional investors.

Insider Activity at Pinnacle Financial Partners

In related news, insider M Terry Turner sold 66,783 shares of Pinnacle Financial Partners stock in a transaction on Friday, August 14th. The shares were sold at an average price of $108.01, for a total value of $7,213,231.83. Following the completion of the sale, the insider owned 302,230 shares of the company's stock, valued at approximately $32,643,862.30. The trade was a 18.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert A. Mccabe, Jr. acquired 10,013 shares of the firm's stock in a transaction that occurred on Friday, July 24th. The stock was acquired at an average price of $99.90 per share, with a total value of $1,000,298.70. Following the completion of the acquisition, the insider directly owned 324,233 shares of the company's stock, valued at $32,390,876.70. This represents a 3.19% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 177,228 shares of company stock worth $19,153,713. Insiders own 1.30% of the company's stock.

Pinnacle Financial Partners Trading Down 0.0%

Shares of NYSE:PNFP opened at $101.08 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73. Pinnacle Financial Partners, Inc. has a 1 year low of $81.08 and a 1 year high of $110.33. The stock's fifty day moving average price is $102.11. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.40 and a beta of 1.03.

Pinnacle Financial Partners (NYSE:PNFP - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%.The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. On average, sell-side analysts forecast that Pinnacle Financial Partners, Inc. will post 10.19 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 7th were issued a $0.50 dividend. The ex-dividend date was Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. Pinnacle Financial Partners's dividend payout ratio is currently 27.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PNFP shares. Robert W. Baird initiated coverage on Pinnacle Financial Partners in a research note on Tuesday, May 19th. They set an "outperform" rating and a $115.00 price objective for the company. DA Davidson increased their price target on Pinnacle Financial Partners from $109.00 to $112.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Citigroup lifted their price target on Pinnacle Financial Partners from $122.00 to $126.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. TD Cowen raised their target price on shares of Pinnacle Financial Partners from $116.00 to $119.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Finally, Benchmark boosted their price target on shares of Pinnacle Financial Partners from $125.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $118.35.

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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