Jacobs Levy Equity Management Inc. Increases Stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Jacobs Levy Equity Management Inc. boosted its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 49.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 434,749 shares of the financial services provider's stock after buying an additional 143,026 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.56% of Pinnacle Financial Partners worth $49,731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNFP. Kapitalo Investimentos Ltda acquired a new stake in Pinnacle Financial Partners during the fourth quarter valued at $78,000. UMB Bank n.a. grew its position 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 purchasing an additional 239 shares during the period. Principal Securities Inc. grew its position in shares of Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 91 shares during the period. Trust Co. of Vermont acquired a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at about $97,000. Finally, Values First Advisors Inc. grew its position in shares of Pinnacle Financial Partners by 189.9% in the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock valued at $167,000 after purchasing an additional 955 shares during the period. Institutional investors and hedge funds own 87.40% of the company's stock.

Analyst Ratings Changes

PNFP has been the topic of several research analyst reports. 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 on the stock in a research report on Wednesday, April 9th. Stephens reiterated an "overweight" rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their target price on shares of Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their target price on shares of Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Finally, Barclays dropped 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. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Pinnacle Financial Partners currently has an average rating of "Moderate Buy" and an average price target of $119.90.

Insiders Place Their Bets

In other news, CEO M Terry Turner sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total value of $201,260.00. Following the sale, the chief executive officer now directly owns 254,552 shares of the company's stock, valued at approximately $25,615,567.76. The trade was a 0.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Robert A. Mccabe, Jr. sold 40,000 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $113.81, for a total transaction of $4,552,400.00. Following the completion of the sale, the chairman now directly owns 83,000 shares in the company, valued at $9,446,230. This trade represents a 32.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,041 shares of company stock valued at $5,062,386 over the last ninety days. Company insiders own 1.46% of the company's stock.

Pinnacle Financial Partners Price Performance

PNFP traded up $0.43 on Friday, reaching $111.36. 271,210 shares of the company's stock were exchanged, compared to its average volume of 502,426. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. The stock's fifty day moving average price is $101.14 and its 200-day moving average price is $112.38. Pinnacle Financial Partners, Inc. has a twelve month low of $73.62 and a twelve month high of $131.91. The stock has a market cap of $8.64 billion, a PE ratio of 18.62 and a beta of 1.00.

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, 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 company had revenue of $475.37 million for the quarter, compared to the consensus estimate of $478.11 million. During the same period in the previous year, the firm earned $1.53 earnings per share. Sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The company also recently announced 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. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, May 2nd. Pinnacle Financial Partners's dividend payout ratio (DPR) 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.