Hsbc Holdings PLC Purchases 5,890 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Hsbc Holdings PLC increased its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 167.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,412 shares of the financial services provider's stock after purchasing an additional 5,890 shares during the period. Hsbc Holdings PLC's holdings in Pinnacle Financial Partners were worth $1,077,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. UMB Bank n.a. increased its stake in Pinnacle Financial Partners by 48.1% in the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider's stock valued at $84,000 after acquiring an additional 239 shares during the period. Principal Securities Inc. raised its holdings in shares of Pinnacle Financial Partners by 12.7% in the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock worth $92,000 after buying an additional 91 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $97,000. Values First Advisors Inc. boosted its stake in Pinnacle Financial Partners by 189.9% in the 4th quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock valued at $167,000 after buying an additional 955 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Pinnacle Financial Partners by 20.6% in the fourth quarter. Blue Trust Inc. now owns 1,586 shares of the financial services provider's stock valued at $181,000 after acquiring an additional 271 shares during the period. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pinnacle Financial Partners

In related news, Director David B. Ingram sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $126.50, for a total value of $5,060,000.00. Following the completion of the transaction, the director now directly owns 40,991 shares in the company, valued at approximately $5,185,361.50. The trade was a 49.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glenda Baskin Glover sold 3,000 shares of the firm's stock in a transaction that occurred on 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 $1,009,711.65. This trade represents a 23.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,041 shares of company stock valued at $10,122,386. Company insiders own 1.46% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. 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 report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their price objective on shares of Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. reduced their target price on Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Barclays decreased their target price on Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their target price on Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $119.50.

Pinnacle Financial Partners Trading Up 0.5 %

Shares of PNFP stock traded up $0.50 on Wednesday, reaching $104.72. The company had a trading volume of 506,840 shares, compared to its average volume of 498,769. The stock has a market cap of $8.10 billion, a PE ratio of 17.51 and a beta of 1.00. The company has a 50-day moving average of $100.73 and a 200-day moving average of $112.04. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. Pinnacle Financial Partners, Inc. has a 12 month low of $73.62 and a 12 month 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 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $478.11 million. During the same quarter in the prior year, the firm earned $1.53 earnings per share. On average, equities analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, May 2nd. This represents a $0.96 annualized dividend and a yield of 0.92%. Pinnacle Financial Partners's dividend payout ratio is presently 15.53%.

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.