Vest Financial LLC Has $3.17 Million Holdings in Pinnacle Financial Partners, Inc. $PNFP

Key Points

• Vest Financial LLC increased its stake in Pinnacle Financial Partners by 126% in Q4 to 33,199 shares, valued at approximately $3.17 million.
• Pinnacle beat estimates in its most recent quarter with EPS of $2.39 versus $2.30 expected and revenue of $1.22 billion versus $1.20 billion expected.
• The company declared a quarterly dividend of $0.50 per share (annualized $2.00, ~2.0% yield), with an ex-dividend date of May 1 and payment on May 29.

Vest Financial LLC boosted its stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP - Free Report) by 126.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,199 shares of the company's stock after purchasing an additional 18,508 shares during the quarter. Vest Financial LLC's holdings in Pinnacle Financial Partners were worth $3,168,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNFP. Wealth Enhancement Advisory Services LLC grew its stake in shares of Pinnacle Financial Partners by 97.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,073 shares of the company's stock valued at $4,327,000 after purchasing an additional 23,292 shares during the period. Yousif Capital Management LLC grew its stake in shares of Pinnacle Financial Partners by 92.4% in the 4th quarter. Yousif Capital Management LLC now owns 46,456 shares of the company's stock valued at $4,519,000 after purchasing an additional 22,306 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Pinnacle Financial Partners by 585.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 18,419 shares of the company's stock valued at $1,768,000 after purchasing an additional 15,732 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at approximately $1,128,000. Finally, Woodmont Investment Counsel LLC grew its stake in shares of Pinnacle Financial Partners by 43.1% in the 3rd quarter. Woodmont Investment Counsel LLC now owns 94,388 shares of the company's stock valued at $8,853,000 after purchasing an additional 28,445 shares during the period. Institutional investors own 87.40% of the company's stock.

Pinnacle Financial Partners Price Performance

Shares of NYSE:PNFP opened at $97.67 on Thursday. Pinnacle Financial Partners, Inc. has a 12 month low of $81.08 and a 12 month high of $120.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 0.36 and a beta of 1.00.

Pinnacle Financial Partners (NYSE:PNFP - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.09. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. On average, sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 10.37 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 1st will be given a dividend of $0.50 per share. The ex-dividend date is Friday, May 1st. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. Pinnacle Financial Partners's dividend payout ratio is presently 27.74%.

Insider Transactions at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory bought 1,000 shares of the business's stock in a transaction on Thursday, February 12th. The shares were bought at an average cost of $94.52 per share, for a total transaction of $94,520.00. Following the transaction, the chief financial officer owned 49,485 shares in the company, valued at approximately $4,677,322.20. This trade represents a 2.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

PNFP has been the subject of a number of recent analyst reports. Raymond James Financial reiterated a "strong-buy" rating on shares of Pinnacle Financial Partners in a research report on Thursday, January 22nd. UBS Group lifted their price target on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a "buy" rating in a report on Friday, April 24th. Weiss Ratings assumed coverage on shares of Pinnacle Financial Partners in a report on Monday, March 9th. They set a "hold (c+)" rating for the company. JPMorgan Chase & Co. lifted their price target on shares of Pinnacle Financial Partners from $105.00 to $120.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Finally, Citigroup lifted their price target on shares of Pinnacle Financial Partners from $118.00 to $122.00 and gave the company a "buy" rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $113.50.

Pinnacle Financial Partners Company Profile

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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