Capital Research Global Investors Has $178.43 Million Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Capital Research Global Investors grew its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 57.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,559,798 shares of the financial services provider's stock after buying an additional 566,061 shares during the period. Capital Research Global Investors owned approximately 2.02% of Pinnacle Financial Partners worth $178,425,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in shares of 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 valued at $84,000 after buying an additional 239 shares during the period. Principal Securities Inc. increased its holdings in Pinnacle Financial Partners by 12.7% during 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 in the last quarter. Trust Co. of Vermont acquired a new stake in shares of Pinnacle Financial Partners in the 4th quarter valued at about $97,000. Values First Advisors Inc. lifted its holdings in shares of Pinnacle Financial Partners by 189.9% in the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock valued at $167,000 after purchasing an additional 955 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of 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 worth $181,000 after buying an additional 271 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 down $0.07 during midday trading on Friday, reaching $100.28. 378,922 shares of the stock were exchanged, compared to its average volume of 502,699. 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 stock's 50 day simple moving average is $102.89 and its 200 day simple moving average is $111.84. Pinnacle Financial Partners, Inc. has a twelve month low of $73.62 and a twelve month high of $131.91. The company 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 announced its earnings results on Monday, April 14th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.08. The firm had revenue of $475.37 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $1.53 EPS. On average, sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, May 2nd. Pinnacle Financial Partners's dividend payout ratio (DPR) is currently 15.53%.

Insider Buying and Selling

In other Pinnacle Financial Partners news, Director David B. Ingram sold 10,309 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.00, for a total transaction of $1,298,934.00. Following the sale, the director now directly owns 82,256 shares in the company, valued at $10,364,256. This represents a 11.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Glenda Baskin Glover sold 3,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $101.55, for a total transaction of $304,650.00. Following the completion of the transaction, the director now directly owns 9,943 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 95,350 shares of company stock worth $11,421,320. Company insiders own 1.46% of the company's stock.

Analyst Upgrades and Downgrades

PNFP has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Citigroup increased their price target 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. Hovde Group upgraded shares of Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 price objective on the stock in a research note on Wednesday, April 16th. 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 for the company in a research note on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods lowered their price target on Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Pinnacle Financial Partners presently has an average rating of "Moderate Buy" and an average price target of $119.50.

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.