Pinnacle Financial Partners, Inc. $PNFP Shares Sold by Villanova Investment Management Co LLC

Key Points

• Villanova Investment Management Co LLC reduced its stake in Pinnacle Financial Partners by 68.6% during Q1, owning 7,296 shares after selling 15,951 shares, which is 2.2% of their investment portfolio.
• Pinnacle Financial Partners reported $2.00 EPS for the last quarter, exceeding expectations of $1.92, with revenue growth of 15.1% year-over-year.
• Insiders, including Director G Kennedy Thompson, have been actively buying shares, with a reported 12,174 shares purchased valued at about $1.05 million over the past 90 days.

Villanova Investment Management Co LLC decreased its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 68.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,296 shares of the financial services provider's stock after selling 15,951 shares during the period. Pinnacle Financial Partners comprises approximately 2.2% of Villanova Investment Management Co LLC's portfolio, making the stock its 16th biggest holding. Villanova Investment Management Co LLC's holdings in Pinnacle Financial Partners were worth $774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in Pinnacle Financial Partners in the first quarter worth $48,000. SVB Wealth LLC purchased a new stake in Pinnacle Financial Partners in the first quarter worth $51,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Pinnacle Financial Partners in the first quarter worth $57,000. Brooklyn Investment Group lifted its stake in Pinnacle Financial Partners by 15.3% in the first quarter. Brooklyn Investment Group now owns 827 shares of the financial services provider's stock worth $88,000 after acquiring an additional 110 shares during the period. Finally, UMB Bank n.a. lifted its position in Pinnacle Financial Partners by 16.6% during the first quarter. UMB Bank n.a. now owns 858 shares of the financial services provider's stock valued at $91,000 after buying an additional 122 shares during the period. Institutional investors own 87.40% of the company's stock.

Insider Buying and Selling

In related news, Director G Kennedy Thompson acquired 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $85.65 per share, for a total transaction of $856,500.00. Following the purchase, the director directly owned 28,372 shares of the company's stock, valued at $2,430,061.80. This trade represents a 54.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas C. Farnsworth III acquired 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average price of $84.94 per share, with a total value of $84,940.00. Following the completion of the purchase, the director directly owned 28,277 shares in the company, valued at $2,401,848.38. The trade was a 3.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 12,174 shares of company stock worth $1,047,079 in the last three months. 1.46% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Keefe, Bruyette & Woods lowered their price objective on Pinnacle Financial Partners from $125.00 to $95.00 and set a "market perform" rating for the company in a research report on Wednesday, August 13th. Stephens lowered their price target on Pinnacle Financial Partners from $133.00 to $104.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 29th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $110.00 price target (down previously from $145.00) on shares of Pinnacle Financial Partners in a research report on Friday, July 25th. Wall Street Zen upgraded Pinnacle Financial Partners from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. boosted their price target on Pinnacle Financial Partners from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $113.50.

Pinnacle Financial Partners Trading Down 1.3%

Pinnacle Financial Partners stock traded down $1.24 during mid-day trading on Tuesday, hitting $94.12. The company's stock had a trading volume of 585,802 shares, compared to its average volume of 783,901. The company has a 50 day moving average of $99.40 and a 200-day moving average of $102.50. The stock has a market cap of $7.30 billion, a PE ratio of 12.49 and a beta of 1.07. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.89. Pinnacle Financial Partners, Inc. has a one year low of $81.57 and a one year high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08. Pinnacle Financial Partners had a return on equity of 9.60% and a net margin of 18.69%.The company had revenue of $504.99 million for the quarter, compared to the consensus estimate of $495.27 million. During the same quarter in the prior year, the company posted $1.63 EPS. Pinnacle Financial Partners's quarterly revenue was up 15.1% on a year-over-year basis. On average, research analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. Pinnacle Financial Partners's dividend payout ratio is presently 12.73%.

About Pinnacle Financial Partners

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.