Van Lanschot Kempen Investment Management N.V. bought a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 682,837 shares of the financial services provider's stock, valued at approximately $78,110,000. Van Lanschot Kempen Investment Management N.V. owned 0.88% of Pinnacle Financial Partners as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of PNFP. UMB Bank n.a. grew its holdings in 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 worth $84,000 after purchasing an additional 239 shares during the period. Principal Securities Inc. grew its stake in shares of Pinnacle Financial Partners by 12.7% in the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after buying an additional 91 shares during the period. Trust Co. of Vermont bought a new stake in Pinnacle Financial Partners in the 4th quarter valued at about $97,000. Values First Advisors Inc. raised its stake in Pinnacle Financial Partners by 189.9% during the 4th quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock worth $167,000 after buying an additional 955 shares during the period. Finally, Blue Trust Inc. boosted its holdings in 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 worth $181,000 after acquiring an additional 271 shares in the last quarter. Institutional investors own 87.40% of the company's stock.
Pinnacle Financial Partners Stock Performance
PNFP traded down $0.07 during trading on Friday, hitting $100.28. 401,228 shares of the company traded hands, compared to its average volume of 502,411. Pinnacle Financial Partners, Inc. has a one year low of $73.62 and a one year high of $131.91. The stock's fifty day moving average is $102.45 and its 200 day moving average is $111.88. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. The firm has a market cap of $7.76 billion, a P/E ratio of 16.77 and a beta of 0.94.
Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its earnings results on Monday, April 14th. The financial services provider reported $1.90 earnings per share for the quarter, beating 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 firm had revenue of $475.37 million during the quarter, compared to the consensus estimate of $478.11 million. During the same period in the prior year, the firm earned $1.53 EPS. As a group, equities analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.
Pinnacle Financial Partners Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 2nd will be given 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 dividend yield of 0.96%. Pinnacle Financial Partners's dividend payout ratio is presently 15.53%.
Analyst Ratings Changes
Several equities research analysts have recently commented on PNFP shares. Wells Fargo & Company decreased their price objective 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. JPMorgan Chase & Co. decreased their price target on shares of Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Citigroup raised their price objective on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, December 31st. Keefe, Bruyette & Woods decreased their target price on shares of Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Finally, Barclays dropped 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 report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $119.50.
Check Out Our Latest Stock Report on Pinnacle Financial Partners
Insider Transactions at Pinnacle Financial Partners
In related news, CEO M Terry Turner sold 2,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total transaction of $201,260.00. Following the sale, the chief executive officer now directly owns 254,552 shares in the company, valued at approximately $25,615,567.76. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Glenda Baskin Glover sold 3,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $101.55, for a total value of $304,650.00. Following the completion of the transaction, the director now owns 9,943 shares of the company's stock, valued at approximately $1,009,711.65. This represents a 23.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,350 shares of company stock worth $11,421,320. 1.46% of the stock is owned by company insiders.
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.
See Also
Before you consider Pinnacle Financial Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pinnacle Financial Partners wasn't on the list.
While Pinnacle Financial Partners currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
