Tower Research Capital LLC TRC raised its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 148.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,975 shares of the financial services provider's stock after acquiring an additional 7,761 shares during the quarter. Tower Research Capital LLC TRC's holdings in Pinnacle Financial Partners were worth $1,484,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the company. UMB Bank n.a. raised its position in Pinnacle Financial Partners by 48.1% during 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 in the last quarter. Principal Securities Inc. increased its holdings in shares of Pinnacle Financial Partners by 12.7% during the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after acquiring an additional 91 shares during the last quarter. Trust Co. of Vermont bought a new position in shares of Pinnacle Financial Partners in the 4th quarter valued at approximately $97,000. Values First Advisors Inc. boosted its position in Pinnacle Financial Partners by 189.9% during the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock worth $167,000 after purchasing an additional 955 shares during the period. Finally, Blue Trust Inc. raised its position in shares of 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 purchasing an additional 271 shares during the period. 87.40% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Pinnacle Financial Partners
In other Pinnacle Financial Partners news, Director Glenda Baskin Glover sold 3,000 shares of the business'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 value of $304,650.00. Following the transaction, the director now directly owns 9,943 shares of the company's stock, valued at approximately $1,009,711.65. The trade was a 23.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David B. Ingram sold 10,309 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.00, for a total value of $1,298,934.00. Following the sale, the director now owns 82,256 shares of the company's stock, valued at approximately $10,364,256. This represents a 11.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,350 shares of company stock worth $11,421,320. Corporate insiders own 1.46% of the company's stock.
Pinnacle Financial Partners Stock Down 0.0 %
Shares of NASDAQ PNFP traded down $0.04 during midday trading on Tuesday, reaching $100.18. The company's stock had a trading volume of 96,138 shares, compared to its average volume of 500,553. The stock has a 50 day simple moving average of $102.04 and a 200-day simple moving average of $112.11. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 16.76 and a beta of 0.94. Pinnacle Financial Partners, Inc. has a fifty-two week low of $73.62 and a fifty-two week high of $131.91.
Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.08. The company had revenue of $475.37 million during the quarter, compared to analysts' expectations of $478.11 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. During the same quarter in the previous year, the company posted $1.53 earnings per share. Equities research analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.
Pinnacle Financial Partners Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 0.96%. Pinnacle Financial Partners's payout ratio is 15.53%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Barclays decreased their target price on shares of Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their target price on shares of Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Hovde Group raised shares of Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 price objective on the stock in a research note on Wednesday, April 16th. Citigroup raised their price target on Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a "buy" rating in a report on Tuesday, December 31st. Finally, Stephens reaffirmed an "overweight" rating and issued a $142.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $119.50.
Check Out Our Latest Stock Analysis on PNFP
About Pinnacle Financial Partners
(
Free Report)
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.
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