Cerity Partners LLC reduced its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 8.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 33,031 shares of the financial services provider's stock after selling 3,230 shares during the period. Cerity Partners LLC's holdings in Pinnacle Financial Partners were worth $3,778,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. lifted its position in Pinnacle Financial Partners by 48.1% in the 4th quarter. UMB Bank n.a. now owns 736 shares of the financial services provider's stock valued at $84,000 after acquiring an additional 239 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 91 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of Pinnacle Financial Partners during the fourth quarter worth about $97,000. Values First Advisors Inc. raised its position in Pinnacle Financial Partners by 189.9% in the 4th 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 last quarter. Finally, Blue Trust Inc. lifted its stake in Pinnacle Financial Partners by 20.6% in the 4th quarter. Blue Trust Inc. now owns 1,586 shares of the financial services provider's stock valued at $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
Shares of NASDAQ:PNFP traded up $0.39 on Wednesday, reaching $94.75. 971,837 shares of the company's stock were exchanged, compared to its average volume of 506,890. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. Pinnacle Financial Partners, Inc. has a twelve month low of $73.62 and a twelve month high of $131.91. The company has a fifty day moving average of $106.39 and a 200-day moving average of $111.89. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 15.84 and a beta of 0.94.
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. The firm had revenue of $475.37 million for the quarter, compared to analyst estimates of $478.11 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. During the same quarter last year, the company earned $1.53 EPS. On average, research analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.
Pinnacle Financial Partners Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors 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 1.01%. The ex-dividend date of this dividend is Friday, May 2nd. Pinnacle Financial Partners's dividend payout ratio (DPR) is presently 16.05%.
Insider Buying and Selling
In other Pinnacle Financial Partners news, Director David B. Ingram sold 40,000 shares of the business's stock in a transaction that occurred on 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 sale, the director now directly owns 40,991 shares of the company's stock, valued at $5,185,361.50. The trade was a 49.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Glenda Baskin Glover sold 3,000 shares of the stock in a transaction 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 sale, the director now owns 9,943 shares of the company's stock, valued at $1,009,711.65. The trade was a 23.18 % 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 worth $11,421,320 in the last three months. 1.46% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts have recently issued reports on PNFP shares. Stephens reiterated an "overweight" rating and issued a $142.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Hovde Group upgraded shares of Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 price target for the company in a research note on Wednesday. Citigroup boosted their price objective on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a "buy" rating in a research note on Tuesday, December 31st. Barclays cut their target price on shares of Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group started coverage on Pinnacle Financial Partners in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $133.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Pinnacle Financial Partners currently has an average rating of "Moderate Buy" and a consensus target price of $121.50.
Get Our Latest Report on PNFP
Pinnacle Financial Partners Company Profile
(
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.
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