B. Metzler seel. Sohn & Co. AG Reduces Stock Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

B. Metzler seel. Sohn & Co. AG cut its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 24.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,788 shares of the financial services provider's stock after selling 9,022 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Pinnacle Financial Partners were worth $3,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. boosted its stake 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 buying an additional 239 shares in the last quarter. Principal Securities Inc. raised its position in Pinnacle Financial Partners by 12.7% in the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock worth $92,000 after purchasing an additional 91 shares during the period. Trust Co. of Vermont bought a new stake in Pinnacle Financial Partners in the fourth quarter worth $97,000. Values First Advisors Inc. boosted its position in Pinnacle Financial Partners by 189.9% during the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock valued at $167,000 after buying an additional 955 shares during the period. Finally, Blue Trust Inc. boosted its position in Pinnacle Financial Partners by 20.6% during the fourth quarter. Blue Trust Inc. now owns 1,586 shares of the financial services provider's stock valued at $181,000 after buying an additional 271 shares during the period. Hedge funds and other institutional investors own 87.40% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PNFP shares. Wells Fargo & Company increased their target price on Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an "equal weight" rating in a report on Thursday, January 23rd. UBS Group initiated coverage on shares of Pinnacle Financial Partners in a report on Tuesday, December 17th. They issued a "neutral" rating and a $133.00 target price on the stock. Hovde Group lowered their price target on shares of Pinnacle Financial Partners from $135.00 to $120.00 and set a "market perform" rating for the company in a report on Wednesday. Stephens reissued an "overweight" rating and issued a $142.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Finally, Barclays raised shares of Pinnacle Financial Partners from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $120.00 to $135.00 in a research note on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Pinnacle Financial Partners presently has a consensus rating of "Hold" and an average price target of $123.82.

Pinnacle Financial Partners Stock Down 5.1 %

Pinnacle Financial Partners stock traded down $4.64 during trading hours on Friday, hitting $87.19. 1,694,770 shares of the stock traded hands, compared to its average volume of 486,343. Pinnacle Financial Partners, Inc. has a one year low of $73.62 and a one year high of $131.91. The firm's 50-day moving average price is $112.41 and its two-hundred day moving average price is $112.41. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. The company has a market cap of $6.75 billion, a PE ratio of 14.58 and a beta of 0.94.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.10. The company had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The firm's revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 earnings per share. On average, research analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 7th were paid a dividend of $0.24 per share. This is an increase from Pinnacle Financial Partners's previous quarterly dividend of $0.22. The ex-dividend date was Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.10%. Pinnacle Financial Partners's dividend payout ratio (DPR) is currently 16.05%.

Insider Activity at Pinnacle Financial Partners

In related news, Director Glenda Baskin Glover sold 3,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were 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 directly owns 9,943 shares in the company, valued at $1,009,711.65. The trade was a 23.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Ingram sold 40,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $126.50, for a total value of $5,060,000.00. Following the sale, the director now owns 40,991 shares in the company, valued at approximately $5,185,361.50. This represents a 49.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,350 shares of company stock valued at $11,421,320 in the last 90 days. Corporate insiders own 1.46% of the company's stock.

About Pinnacle Financial Partners

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.