Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Stock Holdings Raised by International Assets Investment Management LLC

International Assets Investment Management LLC grew its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 6,999.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,527 shares of the financial services provider's stock after buying an additional 30,097 shares during the quarter. International Assets Investment Management LLC's holdings in Pinnacle Financial Partners were worth $2,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PNFP. Caprock Group LLC lifted its holdings in Pinnacle Financial Partners by 2.2% during the 4th quarter. Caprock Group LLC now owns 5,604 shares of the financial services provider's stock worth $489,000 after buying an additional 122 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Pinnacle Financial Partners by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 33,040 shares of the financial services provider's stock worth $2,215,000 after purchasing an additional 170 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Pinnacle Financial Partners by 57.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider's stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Pinnacle Financial Partners by 101.4% in 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 in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Pinnacle Financial Partners by 17.6% in the third quarter. Venturi Wealth Management LLC now owns 2,000 shares of the financial services provider's stock valued at $134,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 87.40% of the company's stock.

Wall Street Analyst Weigh In

PNFP has been the subject of several research analyst reports. Stephens restated an "overweight" rating and issued a $109.00 target price on shares of Pinnacle Financial Partners in a report on Tuesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on Pinnacle Financial Partners from $110.00 to $108.00 and set an "overweight" rating on the stock in a report on Wednesday, April 24th. Hovde Group reduced their target price on Pinnacle Financial Partners from $104.00 to $99.00 and set an "outperform" rating for the company in a report on Tuesday, April 23rd. UBS Group decreased their target price on Pinnacle Financial Partners from $91.00 to $90.00 and set a "neutral" rating for the company in a research report on Thursday, January 18th. Finally, Truist Financial cut their price target on Pinnacle Financial Partners from $99.00 to $94.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Pinnacle Financial Partners has an average rating of "Hold" and a consensus target price of $95.50.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock traded up $0.09 during mid-day trading on Friday, reaching $83.58. 220,079 shares of the company were exchanged, compared to its average volume of 538,032. The firm has a market cap of $6.44 billion, a PE ratio of 11.96 and a beta of 1.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. The firm's 50-day simple moving average is $81.88 and its two-hundred day simple moving average is $80.63. Pinnacle Financial Partners, Inc. has a twelve month low of $46.05 and a twelve month high of $92.33.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.88 annualized dividend and a yield of 1.05%. Pinnacle Financial Partners's dividend payout ratio is currently 12.59%.

Insiders Place Their Bets

In other news, CEO M Terry Turner sold 24,057 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $1,977,966.54. Following the sale, the chief executive officer now owns 294,790 shares of the company's stock, valued at $24,237,633.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO M Terry Turner sold 24,057 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total transaction of $1,977,966.54. Following the completion of the transaction, the chief executive officer now directly owns 294,790 shares of the company's stock, valued at $24,237,633.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Harold R. Carpenter sold 6,306 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $518,479.32. Following the completion of the sale, the chief financial officer now directly owns 63,856 shares in the company, valued at approximately $5,250,240.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 235,093 shares of company stock worth $19,103,353. 1.87% of the stock is owned by insiders.

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.