Tudor Investment Corp ET AL Boosts Holdings in Pinnacle Financial Partners, Inc. $PNFP

Key Points

• Tudor Investment Corp ET AL boosted its stake in Pinnacle Financial Partners by 984.5% in Q3, acquiring an additional 149,895 shares to hold 165,120 shares (about 0.21% of the company) valued at roughly $15.49 million.
• Wall Street views are generally positive — one Strong Buy, ten Buy and eight Hold — resulting in a consensus rating of Moderate Buy and an average price target of $112.24.
• Insiders and shareholder facts: CFO Andrew J. Gregory bought 1,000 shares at $94.52, insiders own 1.46% of the stock, Pinnacle paid a $0.50 dividend (24.72% payout ratio), and the share price recently traded near $87.57 with a 52‑week range of $81.08–$120.46.

Tudor Investment Corp ET AL boosted its holdings in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP - Free Report) by 984.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,120 shares of the company's stock after acquiring an additional 149,895 shares during the period. Tudor Investment Corp ET AL owned about 0.21% of Pinnacle Financial Partners worth $15,487,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Brown Brothers Harriman & Co. acquired a new stake in shares of Pinnacle Financial Partners in the third quarter valued at approximately $26,000. BOKF NA raised its position in shares of Pinnacle Financial Partners by 1,204.5% during the 3rd quarter. BOKF NA now owns 287 shares of the company's stock worth $27,000 after purchasing an additional 265 shares during the last quarter. Covestor Ltd lifted its stake in Pinnacle Financial Partners by 193.9% in the 3rd quarter. Covestor Ltd now owns 338 shares of the company's stock valued at $32,000 after buying an additional 223 shares in the last quarter. Quent Capital LLC purchased a new stake in Pinnacle Financial Partners in the 3rd quarter valued at approximately $34,000. Finally, Eastern Bank acquired a new stake in Pinnacle Financial Partners during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 87.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PNFP. Raymond James Financial reissued a "strong-buy" rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. TD Cowen reaffirmed a "buy" rating on shares of Pinnacle Financial Partners in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods boosted their target price on shares of Pinnacle Financial Partners from $95.00 to $100.00 and gave the company a "market perform" rating in a research note on Friday, January 9th. UBS Group set a $106.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday, February 4th. Finally, Citigroup raised their price target on shares of Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a "buy" rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Pinnacle Financial Partners has a consensus rating of "Moderate Buy" and an average price target of $112.24.

Insider Transactions at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the firm's stock in a transaction on Thursday, February 12th. The shares were purchased at an average cost of $94.52 per share, with a total value of $94,520.00. Following the purchase, the chief financial officer owned 49,485 shares in the company, valued at approximately $4,677,322.20. This represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.46% of the company's stock.

Pinnacle Financial Partners Price Performance

Shares of Pinnacle Financial Partners stock opened at $87.57 on Friday. Pinnacle Financial Partners, Inc. has a fifty-two week low of $81.08 and a fifty-two week high of $120.46. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 0.40 and a beta of 1.00.

Pinnacle Financial Partners Announces Dividend

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

About Pinnacle Financial Partners

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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