Dimensional Fund Advisors LP Sells 263,415 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Dimensional Fund Advisors LP lessened its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,003,967 shares of the financial services provider's stock after selling 263,415 shares during the period. Dimensional Fund Advisors LP owned approximately 3.89% of Pinnacle Financial Partners worth $343,623,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Pinnacle Financial Partners by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 7,200,386 shares of the financial services provider's stock worth $823,652,000 after acquiring an additional 87,058 shares during the last quarter. FMR LLC grew its position in shares of Pinnacle Financial Partners by 10.6% during the fourth quarter. FMR LLC now owns 3,003,310 shares of the financial services provider's stock worth $343,549,000 after buying an additional 286,894 shares in the last quarter. Wellington Management Group LLP raised its stake in Pinnacle Financial Partners by 16.5% during the fourth quarter. Wellington Management Group LLP now owns 1,504,254 shares of the financial services provider's stock valued at $172,072,000 after buying an additional 213,505 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Pinnacle Financial Partners by 27.0% during the third quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider's stock worth $96,332,000 after purchasing an additional 208,938 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Pinnacle Financial Partners in the 4th quarter valued at about $101,798,000. 87.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PNFP shares. Keefe, Bruyette & Woods dropped their price target on shares of Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. cut their target price on shares of Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Hovde Group upgraded Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 price objective on the stock in a report on Wednesday, April 16th. Citigroup raised their target price on Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, December 31st. Finally, Barclays lowered their price objective on shares of Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Pinnacle Financial Partners has an average rating of "Moderate Buy" and a consensus target price of $119.50.

Insider Activity at Pinnacle Financial Partners

In related news, Director Glenda Baskin Glover sold 3,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $101.55, for a total transaction of $304,650.00. Following the sale, the director now directly owns 9,943 shares in the company, valued at $1,009,711.65. This trade represents a 23.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David B. Ingram sold 40,000 shares of the company'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 value of $5,060,000.00. Following the completion of the sale, the director now owns 40,991 shares in the company, valued at $5,185,361.50. The trade was a 49.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,350 shares of company stock worth $11,421,320. Company insiders own 1.46% of the company's stock.

Pinnacle Financial Partners Stock Down 0.1 %

PNFP traded down $0.07 during trading on Friday, hitting $100.28. The company had a trading volume of 378,922 shares, compared to its average volume of 502,699. The firm's 50-day moving average price is $102.89 and its 200 day moving average price is $111.84. Pinnacle Financial Partners, Inc. has a one year low of $73.62 and a one year high of $131.91. The company has a market capitalization of $7.76 billion, a PE ratio of 16.77 and a beta of 0.94. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.82 by $0.08. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The company had revenue of $475.37 million during the quarter, compared to the consensus estimate of $478.11 million. During the same quarter in the prior year, the firm posted $1.53 EPS. As a group, equities analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 2nd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, May 2nd. Pinnacle Financial Partners's dividend payout ratio is currently 15.53%.

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.