Universal Beteiligungs und Servicegesellschaft mbH Invests $3.66 Million in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 34,504 shares of the financial services provider's stock, valued at approximately $3,659,000.

Several other hedge funds also recently made changes to their positions in the business. Utah Retirement Systems grew its stake in shares of Pinnacle Financial Partners by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,090 shares of the financial services provider's stock worth $468,000 after acquiring an additional 100 shares in the last quarter. Cahaba Wealth Management Inc. grew its stake in shares of Pinnacle Financial Partners by 1.7% during the 4th quarter. Cahaba Wealth Management Inc. now owns 6,625 shares of the financial services provider's stock worth $758,000 after acquiring an additional 113 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Pinnacle Financial Partners by 5.7% during the 1st quarter. Parallel Advisors LLC now owns 2,143 shares of the financial services provider's stock worth $227,000 after acquiring an additional 116 shares in the last quarter. Legacy Financial Advisors Inc. grew its stake in shares of Pinnacle Financial Partners by 5.3% during the 4th quarter. Legacy Financial Advisors Inc. now owns 2,414 shares of the financial services provider's stock worth $276,000 after acquiring an additional 122 shares in the last quarter. Finally, UMB Bank n.a. grew 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 valued at $91,000 after buying an additional 122 shares in the last quarter. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Stock Up 0.3%

PNFP opened at $91.85 on Tuesday. Pinnacle Financial Partners, Inc. has a fifty-two week low of $81.57 and a fifty-two week high of $131.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market capitalization of $7.12 billion, a P/E ratio of 12.18 and a beta of 1.01. The stock has a fifty day moving average of $109.28 and a 200-day moving average of $108.96.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $495.27 million. During the same quarter last year, the firm earned $1.63 earnings per share. The company's revenue was up 15.1% on a year-over-year basis. On average, equities analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, August 1st. Pinnacle Financial Partners's dividend payout ratio (DPR) is presently 12.73%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PNFP shares. Wall Street Zen raised shares of Pinnacle Financial Partners from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. raised their target price on shares of Pinnacle Financial Partners from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. UBS Group reissued a "neutral" rating and issued a $121.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, July 9th. Citigroup decreased their target price on shares of Pinnacle Financial Partners from $140.00 to $120.00 and set a "buy" rating for the company in a research note on Friday. Finally, Wells Fargo & Company decreased their target price on shares of Pinnacle Financial Partners from $125.00 to $110.00 and set an "equal weight" rating for the company in a research note on Friday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $122.10.

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.

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