Two Sigma Securities LLC Invests $322,000 in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Two Sigma Securities LLC acquired a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,812 shares of the financial services provider's stock, valued at approximately $322,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its position in Pinnacle Financial Partners by 117.0% in the third quarter. Barclays PLC now owns 167,838 shares of the financial services provider's stock valued at $16,442,000 after purchasing an additional 90,478 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Pinnacle Financial Partners in the 3rd quarter valued at about $229,000. Principal Financial Group Inc. lifted its position in Pinnacle Financial Partners by 27.0% in the third quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider's stock valued at $96,332,000 after buying an additional 208,938 shares during the last quarter. Oliver Luxxe Assets LLC boosted its stake in Pinnacle Financial Partners by 19.7% during the fourth quarter. Oliver Luxxe Assets LLC now owns 46,667 shares of the financial services provider's stock worth $5,338,000 after buying an additional 7,691 shares during the period. Finally, Wedmont Private Capital purchased a new position in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $224,000. Institutional investors and hedge funds own 87.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PNFP. Stephens restated an "overweight" rating and set a $142.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price target 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. Keefe, Bruyette & Woods dropped their price objective 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 reduced their target price on Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Finally, Barclays lowered their price target on shares of Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and six have assigned 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 a consensus price target of $119.50.

Pinnacle Financial Partners Price Performance

NASDAQ:PNFP traded up $3.14 during trading hours on Friday, reaching $105.69. 403,278 shares of the company traded hands, compared to its average volume of 500,511. Pinnacle Financial Partners, Inc. has a 1-year low of $73.62 and a 1-year high of $131.91. The stock has a market cap of $8.18 billion, a P/E ratio of 17.67 and a beta of 0.94. The firm's 50-day moving average is $101.21 and its 200-day moving average is $111.98. 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 posted its quarterly earnings data 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 return on equity of 9.04% and a net margin of 15.48%. The firm had revenue of $475.37 million during the quarter, compared to analysts' expectations of $478.11 million. During the same quarter last year, the business posted $1.53 EPS. Equities research analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 2nd will be issued a $0.24 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.96 annualized dividend and a yield of 0.91%. Pinnacle Financial Partners's dividend payout ratio (DPR) is presently 15.53%.

Insiders Place Their Bets

In other news, Director David B. Ingram sold 40,000 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $126.50, for a total transaction of $5,060,000.00. Following the completion of the transaction, the director now owns 40,991 shares of the company's stock, valued at $5,185,361.50. This represents a 49.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Glenda Baskin Glover sold 3,000 shares of the firm'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 transaction of $304,650.00. Following the completion of the sale, the director now directly owns 9,943 shares in the company, valued at $1,009,711.65. This represents a 23.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,041 shares of company stock valued at $10,122,386 in the last quarter. 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.