Curran Financial Partners LLC Buys Shares of 2,079 Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Curran Financial Partners LLC acquired a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,079 shares of the financial services provider's stock, valued at approximately $238,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PNFP. Hunter Perkins Capital Management LLC boosted its position in shares of Pinnacle Financial Partners by 3.6% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 15,690 shares of the financial services provider's stock worth $1,795,000 after buying an additional 545 shares in the last quarter. KBC Group NV lifted its holdings in shares of Pinnacle Financial Partners by 1,054.3% in the fourth quarter. KBC Group NV now owns 26,722 shares of the financial services provider's stock valued at $3,057,000 after purchasing an additional 24,407 shares in the last quarter. Blue Trust Inc. grew its position in shares of 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 valued at $181,000 after purchasing an additional 271 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $209,000. Finally, Kraft Asset Management LLC acquired a new position in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $243,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Stock Up 1.0 %

Pinnacle Financial Partners stock traded up $1.25 during trading on Monday, reaching $124.53. 408,500 shares of the company's stock were exchanged, compared to its average volume of 481,234. The company's 50-day moving average is $119.31 and its two-hundred day moving average is $105.71. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 20.82 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a 52-week low of $73.62 and a 52-week high of $131.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.80 by $0.10. The business had revenue of $475.34 million for the quarter, compared to analysts' expectations of $470,334.57 billion. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The business's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 earnings per share. On average, analysts predict that Pinnacle Financial Partners, Inc. will post 7.56 earnings per share for the current year.

Pinnacle Financial Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 7th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a yield of 0.77%. This is an increase from Pinnacle Financial Partners's previous quarterly dividend of $0.22. Pinnacle Financial Partners's dividend payout ratio is currently 14.72%.

Insiders Place Their Bets

In related news, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of Pinnacle Financial Partners stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $124.09, for a total value of $6,204,500.00. Following the completion of the transaction, the chairman now directly owns 123,000 shares in the company, valued at approximately $15,263,070. This trade represents a 28.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David B. Ingram sold 20,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $126.02, for a total value of $2,520,400.00. Following the completion of the transaction, the director now owns 92,565 shares of the company's stock, valued at approximately $11,665,041.30. The trade was a 17.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,661 shares of company stock worth $9,563,127 in the last three months. 1.87% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PNFP. Barclays raised Pinnacle Financial Partners from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $120.00 to $135.00 in a research report on Thursday, December 19th. Stephens restated an "overweight" rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price target on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. UBS Group assumed coverage on shares of Pinnacle Financial Partners in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $133.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $125.18.

Pinnacle Financial Partners 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.