Insider Selling: Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Director Sells 3,000 Shares of Stock

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Get Free Report) Director Glenda Baskin Glover sold 3,000 shares of the firm's 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 sale, the director now directly owns 9,943 shares in the company, valued at approximately $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 through the SEC website.

Pinnacle Financial Partners Stock Performance

PNFP stock traded up $0.46 during mid-day trading on Friday, hitting $105.99. The company had a trading volume of 1,096,896 shares, compared to its average volume of 463,076. Pinnacle Financial Partners, Inc. has a 12 month low of $73.62 and a 12 month high of $131.91. The stock's fifty day moving average price is $115.71 and its two-hundred day moving average price is $111.59. The firm has a market cap of $8.20 billion, a PE ratio of 17.72 and a beta of 1.09. 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 issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.80 by $0.10. The firm had revenue of $475.34 million for the quarter, compared to analysts' expectations of $470.33 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The business's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.68 EPS. On average, analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

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Pinnacle Financial Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 7th were issued a $0.24 dividend. This is a positive change from Pinnacle Financial Partners's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Friday, February 7th. Pinnacle Financial Partners's dividend payout ratio (DPR) is presently 16.05%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Pinnacle Financial Partners from $140.00 to $138.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Citigroup lifted 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. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $135.00 target price (up from $115.00) on shares of Pinnacle Financial Partners in a report on Wednesday, December 4th. Stephens reiterated an "overweight" rating and set a $142.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their price target on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an "equal weight" rating in a research report on Thursday, January 23rd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $125.18.

Institutional Trading of Pinnacle Financial Partners

Institutional investors have recently added to or reduced their stakes in the stock. Virtue Capital Management LLC purchased a new stake in Pinnacle Financial Partners in the 4th quarter worth approximately $213,000. Sunbeam Capital Management LLC purchased a new stake in Pinnacle Financial Partners in the fourth quarter valued at approximately $1,131,000. Forum Financial Management LP grew its stake in Pinnacle Financial Partners by 19.4% in the 4th quarter. Forum Financial Management LP now owns 2,660 shares of the financial services provider's stock worth $304,000 after buying an additional 433 shares in the last quarter. GTS Securities LLC purchased a new stake in shares of Pinnacle Financial Partners during the 4th quarter valued at $398,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Pinnacle Financial Partners by 27.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 254,472 shares of the financial services provider's stock worth $29,109,000 after acquiring an additional 54,340 shares during the last quarter. Hedge funds and other institutional investors own 87.40% 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.