Stieven Capital Advisors L.P. Has $11.06 Million Stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Stieven Capital Advisors L.P. increased its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,298 shares of the financial services provider's stock after acquiring an additional 2,700 shares during the quarter. Pinnacle Financial Partners comprises 2.1% of Stieven Capital Advisors L.P.'s holdings, making the stock its 25th largest holding. Stieven Capital Advisors L.P. owned about 0.13% of Pinnacle Financial Partners worth $11,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of Pinnacle Financial Partners in the first quarter worth approximately $48,000. Kapitalo Investimentos Ltda acquired a new position in shares of Pinnacle Financial Partners in the fourth quarter worth approximately $78,000. UMB Bank n.a. lifted its stake in shares of Pinnacle Financial Partners by 16.6% in the first quarter. UMB Bank n.a. now owns 858 shares of the financial services provider's stock worth $91,000 after acquiring an additional 122 shares during the period. GAMMA Investing LLC lifted its stake in shares of Pinnacle Financial Partners by 51.7% in the first quarter. GAMMA Investing LLC now owns 1,616 shares of the financial services provider's stock worth $171,000 after acquiring an additional 551 shares during the period. Finally, Blair William & Co. IL acquired a new position in shares of Pinnacle Financial Partners in the fourth quarter worth approximately $200,000. 87.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PNFP shares. Hovde Group raised Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 price objective for the company in a research report on Wednesday, April 16th. Jefferies Financial Group started coverage on Pinnacle Financial Partners in a research report on Wednesday, May 21st. They issued a "buy" rating and a $135.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Pinnacle Financial Partners from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Barclays lifted their price objective on Pinnacle Financial Partners from $125.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, UBS Group reissued a "neutral" rating and issued a $121.00 price objective on shares of Pinnacle Financial Partners in a research report on Wednesday, July 9th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $124.82.

Pinnacle Financial Partners Stock Down 3.5%

Pinnacle Financial Partners stock traded down $4.16 during midday trading on Tuesday, reaching $114.88. The stock had a trading volume of 785,328 shares, compared to its average volume of 508,539. Pinnacle Financial Partners, Inc. has a 12 month low of $81.57 and a 12 month high of $131.91. The company has a market capitalization of $8.91 billion, a P/E ratio of 18.59 and a beta of 1.01. The company has a fifty day moving average price of $108.98 and a two-hundred day moving average price of $109.30. 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 (NASDAQ:PNFP - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.08. The business had revenue of $475.37 million during the quarter, compared to the consensus estimate of $478.11 million. Pinnacle Financial Partners had a return on equity of 9.29% and a net margin of 15.98%. During the same quarter in the previous year, the business earned $1.53 EPS. As a group, equities analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.

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.