MetLife Investment Management LLC Purchases 3,592 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

MetLife Investment Management LLC boosted its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 9.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,129 shares of the financial services provider's stock after purchasing an additional 3,592 shares during the quarter. MetLife Investment Management LLC owned 0.06% of Pinnacle Financial Partners worth $4,934,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. UMB Bank n.a. boosted its stake in shares of 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 buying an additional 239 shares during the period. Principal Securities Inc. grew its stake in Pinnacle Financial Partners by 12.7% during the fourth 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 stake in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $97,000. Values First Advisors Inc. boosted its position in shares of Pinnacle Financial Partners by 189.9% during the 4th quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock worth $167,000 after acquiring an additional 955 shares in the last quarter. Finally, Blue Trust Inc. increased its stake 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 last quarter. Institutional investors own 87.40% of the company's stock.

Analyst Ratings Changes

PNFP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price on Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Citigroup raised their price objective on Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, December 31st. Hovde Group raised Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 target price for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on shares of Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Barclays lowered their price objective on shares of Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $119.50.

Pinnacle Financial Partners Trading Down 1.4 %

Shares of PNFP stock traded down $1.37 on Wednesday, hitting $99.67. The company had a trading volume of 39,088 shares, compared to its average volume of 500,339. Pinnacle Financial Partners, Inc. has a twelve month low of $73.62 and a twelve month high of $131.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $7.71 billion, a P/E ratio of 16.65 and a beta of 0.94. The stock's 50-day moving average is $101.69 and its two-hundred day moving average is $112.04.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $1.90 earnings per share 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 business had revenue of $475.37 million during the quarter, compared to the consensus estimate of $478.11 million. During the same quarter last year, the firm earned $1.53 earnings per share. On average, equities research 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 firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 2nd will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, May 2nd. Pinnacle Financial Partners's payout ratio is currently 15.53%.

Insiders Place Their Bets

In related news, 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 transaction, the chief executive officer now owns 254,552 shares of the company's stock, valued at $25,615,567.76. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David B. Ingram sold 40,000 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $126.50, for a total transaction of $5,060,000.00. Following the completion of the sale, the director now owns 40,991 shares of the company's stock, valued at approximately $5,185,361.50. The trade was a 49.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,350 shares of company stock worth $11,421,320. Insiders own 1.46% of the company's stock.

Pinnacle Financial Partners Company 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.