Ceredex Value Advisors LLC Decreases Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Ceredex Value Advisors LLC cut its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 8.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 138,315 shares of the financial services provider's stock after selling 13,150 shares during the quarter. Ceredex Value Advisors LLC owned about 0.18% of Pinnacle Financial Partners worth $15,822,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PNFP. UMB Bank n.a. increased its stake in shares of 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 worth $84,000 after purchasing an additional 239 shares during the period. Principal Securities Inc. increased its position in Pinnacle Financial Partners by 12.7% during the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock worth $92,000 after buying an additional 91 shares during the period. Trust Co. of Vermont acquired a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth $97,000. Values First Advisors Inc. boosted 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 acquiring an additional 955 shares during the period. Finally, Blue Trust Inc. grew its stake 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 acquiring an additional 271 shares in the last quarter. Institutional investors own 87.40% of the company's stock.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, Director Glenda Baskin Glover sold 3,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $101.55, for a total transaction of $304,650.00. Following the transaction, the director now owns 9,943 shares in the company, valued at approximately $1,009,711.65. This represents a 23.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David B. Ingram sold 10,309 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.00, for a total value of $1,298,934.00. Following the completion of the sale, the director now directly owns 82,256 shares of the company's stock, valued at approximately $10,364,256. This trade represents a 11.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,350 shares of company stock worth $11,421,320. 1.46% of the stock is owned by corporate insiders.

Pinnacle Financial Partners Price Performance

Pinnacle Financial Partners stock traded down $1.44 during midday trading on Monday, reaching $93.67. The company's stock had a trading volume of 96,142 shares, compared to its average volume of 506,369. The stock has a market cap of $7.25 billion, a PE ratio of 15.66 and a beta of 0.94. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. Pinnacle Financial Partners, Inc. has a 52 week low of $73.62 and a 52 week high of $131.91. The business has a 50-day moving average price of $104.70 and a 200-day moving average price of $112.02.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last posted its earnings results on Monday, April 14th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.82 by $0.08. The firm had revenue of $475.37 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $1.53 earnings per share. On average, sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors 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 annualized dividend and a yield of 1.02%. Pinnacle Financial Partners's dividend payout ratio is currently 15.53%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PNFP. Stephens reissued an "overweight" rating and issued a $142.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods cut their price target on Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating for the company in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company reduced their target price on Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Finally, Citigroup boosted their price target 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. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $119.50.

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.