Woodmont Investment Counsel LLC Purchases 19,124 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Woodmont Investment Counsel LLC lifted its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 30.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,104 shares of the financial services provider's stock after buying an additional 19,124 shares during the quarter. Woodmont Investment Counsel LLC owned about 0.11% of Pinnacle Financial Partners worth $7,161,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Emerald Advisers LLC acquired a new position in Pinnacle Financial Partners during the third quarter valued at approximately $27,000. DecisionPoint Financial LLC acquired a new position in Pinnacle Financial Partners during the second quarter valued at approximately $28,000. International Assets Investment Management LLC acquired a new position in Pinnacle Financial Partners during the third quarter valued at approximately $28,000. Fifth Third Bancorp grew its holdings in Pinnacle Financial Partners by 101.4% during the third quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 213 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new position in Pinnacle Financial Partners during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 87.40% of the company's stock.

Insider Activity at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of the firm's stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $87.43, for a total transaction of $553,519.33. Following the transaction, the chairman now directly owns 202,699 shares in the company, valued at approximately $17,721,973.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 6,306 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total transaction of $518,479.32. Following the transaction, the chief financial officer now directly owns 63,856 shares in the company, valued at $5,250,240.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $87.43, for a total transaction of $553,519.33. Following the transaction, the chairman now owns 202,699 shares in the company, valued at $17,721,973.57. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,175 shares of company stock valued at $4,487,253. 1.87% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PNFP has been the subject of several research analyst reports. UBS Group reduced their price target on shares of Pinnacle Financial Partners from $91.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, January 18th. Barclays initiated coverage on shares of Pinnacle Financial Partners in a report on Friday, March 8th. They issued an "equal weight" rating and a $93.00 price objective on the stock. Stephens reiterated an "overweight" rating and issued a $108.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 17th. Finally, Truist Financial decreased their price objective on shares of Pinnacle Financial Partners from $100.00 to $93.00 and set a "buy" rating on the stock in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Pinnacle Financial Partners presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.11.

Pinnacle Financial Partners Trading Up 0.3 %

Pinnacle Financial Partners stock traded up $0.23 during mid-day trading on Friday, hitting $85.88. 237,172 shares of the stock were exchanged, compared to its average volume of 399,278. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 11.96 and a beta of 1.07. Pinnacle Financial Partners, Inc. has a 12 month low of $43.31 and a 12 month high of $92.33. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.44. The firm's fifty day simple moving average is $83.82 and its two-hundred day simple moving average is $77.36.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.67 by $0.01. The company had revenue of $396.34 million during the quarter, compared to the consensus estimate of $416.97 million. Pinnacle Financial Partners had a net margin of 20.17% and a return on equity of 9.78%. The company's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 EPS. Analysts forecast that Pinnacle Financial Partners, Inc. will post 6.82 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 2nd were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, February 1st. Pinnacle Financial Partners's payout ratio is currently 12.26%.

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.