B. Metzler seel. Sohn & Co. Holding AG Buys Shares of 36,810 Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 36,810 shares of the financial services provider's stock, valued at approximately $3,606,000.

Several other institutional investors and hedge funds have also made changes to their positions in PNFP. Ashton Thomas Securities LLC purchased a new stake in shares of Pinnacle Financial Partners in the third quarter valued at about $30,000. International Assets Investment Management LLC acquired a new position in Pinnacle Financial Partners during the 2nd quarter worth $29,000. Versant Capital Management Inc increased its stake in shares of Pinnacle Financial Partners by 44.5% during the second quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider's stock worth $35,000 after buying an additional 133 shares during the period. UMB Bank n.a. increased its position in shares of Pinnacle Financial Partners by 83.4% in the 3rd quarter. UMB Bank n.a. now owns 497 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 226 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new stake in Pinnacle Financial Partners in the third quarter valued at $49,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Stock Down 1.0 %

PNFP opened at $121.45 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. Pinnacle Financial Partners, Inc. has a 12 month low of $70.03 and a 12 month high of $129.38. The stock has a market capitalization of $9.38 billion, a P/E ratio of 23.09 and a beta of 1.04. The business has a 50 day simple moving average of $104.08 and a 200-day simple moving average of $92.14.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $1.86 EPS for the quarter, topping the consensus estimate of $1.79 by $0.07. The company had revenue of $810.11 million for the quarter, compared to analyst estimates of $454.18 million. Pinnacle Financial Partners had a net margin of 13.97% and a return on equity of 8.89%. During the same period in the previous year, the firm earned $1.79 EPS. On average, equities analysts anticipate that Pinnacle Financial Partners, Inc. will post 6.8 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 1st will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, November 1st. Pinnacle Financial Partners's payout ratio is currently 16.73%.

Analyst Ratings Changes

A number of research analysts have recently commented on PNFP shares. Citigroup increased their price objective on Pinnacle Financial Partners from $113.00 to $123.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Wells Fargo & Company raised their price objective on shares of Pinnacle Financial Partners from $100.00 to $104.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Stephens upped their price objective on shares of Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Truist Financial lifted their target price on shares of Pinnacle Financial Partners from $113.00 to $119.00 and gave the company a "buy" rating in a report on Monday, October 21st. Finally, Hovde Group downgraded Pinnacle Financial Partners from an "outperform" rating to a "market perform" rating and set a $135.00 price objective for the company. in a research note on Monday. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $108.70.

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.