Public Employees Retirement Association of Colorado Has $22.27 Million Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Public Employees Retirement Association of Colorado boosted its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 35.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 194,696 shares of the financial services provider's stock after purchasing an additional 50,600 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.25% of Pinnacle Financial Partners worth $22,271,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Pinnacle Financial Partners by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 7,200,386 shares of the financial services provider's stock valued at $823,652,000 after buying an additional 87,058 shares in the last quarter. FMR LLC boosted its position in Pinnacle Financial Partners by 10.6% during the 4th quarter. FMR LLC now owns 3,003,310 shares of the financial services provider's stock worth $343,549,000 after purchasing an additional 286,894 shares during the period. North Reef Capital Management LP increased its holdings in Pinnacle Financial Partners by 57.1% in the 4th quarter. North Reef Capital Management LP now owns 1,940,000 shares of the financial services provider's stock valued at $221,917,000 after purchasing an additional 705,000 shares in the last quarter. Capital Research Global Investors raised its position in Pinnacle Financial Partners by 57.0% in the fourth quarter. Capital Research Global Investors now owns 1,559,798 shares of the financial services provider's stock valued at $178,425,000 after purchasing an additional 566,061 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Pinnacle Financial Partners by 16.5% during the fourth quarter. Wellington Management Group LLP now owns 1,504,254 shares of the financial services provider's stock worth $172,072,000 after purchasing an additional 213,505 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company's stock.

Pinnacle Financial Partners Stock Performance

Shares of PNFP traded up $3.14 during trading hours on Friday, reaching $105.69. 403,278 shares of the company's stock traded hands, compared to its average volume of 499,552. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 17.67 and a beta of 1.00. The business's fifty day simple moving average is $101.07 and its two-hundred day simple moving average is $112.01. Pinnacle Financial Partners, Inc. has a twelve month low of $73.62 and a twelve month high of $131.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its quarterly 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. The company had revenue of $475.37 million for the quarter, compared to the consensus estimate of $478.11 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. During the same period in the previous year, the firm earned $1.53 EPS. Analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 2nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, May 2nd. Pinnacle Financial Partners's dividend payout ratio is presently 15.53%.

Analysts Set New Price Targets

Several equities research analysts recently commented on PNFP shares. Keefe, Bruyette & Woods dropped their target price on Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company cut 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 note on Wednesday, April 9th. Hovde Group upgraded Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 target price for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price objective on Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Stephens reiterated an "overweight" rating and set a $142.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $119.50.

Insider Activity

In other news, Director Glenda Baskin Glover sold 3,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $101.55, for a total transaction of $304,650.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO M Terry Turner sold 2,000 shares of Pinnacle Financial Partners stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total value of $201,260.00. Following the completion of the transaction, the chief executive officer now owns 254,552 shares in the company, valued at $25,615,567.76. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,041 shares of company stock worth $10,122,386 over the last 90 days. 1.46% of the stock is currently owned by company 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.