Town & Country Bank & Trust CO dba First Bankers Trust CO Purchases Shares of 14,741 Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Town & Country Bank & Trust CO dba First Bankers Trust CO bought a new position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,741 shares of the financial services provider's stock, valued at approximately $1,563,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV boosted its stake in shares of Pinnacle Financial Partners by 1,054.3% during the fourth quarter. KBC Group NV now owns 26,722 shares of the financial services provider's stock valued at $3,057,000 after purchasing an additional 24,407 shares during the period. Beacon Capital Management LLC raised its holdings in shares of Pinnacle Financial Partners by 101,563.6% during the fourth quarter. Beacon Capital Management LLC now owns 22,366 shares of the financial services provider's stock valued at $2,558,000 after acquiring an additional 22,344 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at approximately $367,000. Waldron Private Wealth LLC bought a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at approximately $239,000. Finally, Cetera Investment Advisers raised its holdings in shares of Pinnacle Financial Partners by 25.6% during the fourth quarter. Cetera Investment Advisers now owns 12,290 shares of the financial services provider's stock valued at $1,406,000 after acquiring an additional 2,502 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PNFP. JPMorgan Chase & Co. decreased their price objective on Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Hovde Group upgraded Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 price target for the company in a report on Wednesday, April 16th. Jefferies Financial Group assumed coverage on Pinnacle Financial Partners in a report on Wednesday, May 21st. They set a "buy" rating and a $135.00 price target for the company. Keefe, Bruyette & Woods dropped their price objective on Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Finally, Wells Fargo & Company dropped their target price on Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $121.27.

Pinnacle Financial Partners Stock Up 1.8%

NASDAQ PNFP traded up $1.91 during trading hours on Tuesday, hitting $108.32. The company had a trading volume of 55,121 shares, compared to its average volume of 500,851. The firm's 50 day moving average is $101.53 and its 200 day moving average is $111.56. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 18.11 and a beta of 1.00. Pinnacle Financial Partners, Inc. has a fifty-two week low of $73.62 and a fifty-two week high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last issued its earnings results on Monday, April 14th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.08. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The firm had revenue of $475.37 million for the quarter, compared to analysts' expectations of $478.11 million. During the same quarter last year, the company posted $1.53 earnings per share. Sell-side analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 2nd were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. Pinnacle Financial Partners's dividend payout ratio is presently 15.53%.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, Director Glenda Baskin Glover sold 3,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $101.55, for a total transaction of $304,650.00. Following the sale, the director now owns 9,943 shares in the company, valued at approximately $1,009,711.65. The trade was a 23.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO M Terry Turner sold 2,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total transaction of $201,260.00. Following the completion of the transaction, the chief executive officer now directly owns 254,552 shares in the company, valued at approximately $25,615,567.76. This trade represents a 0.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,041 shares of company stock worth $509,986 over the last ninety days. Company insiders own 1.46% of the company's stock.

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.