Landscape Capital Management L.L.C. Invests $726,000 in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Landscape Capital Management L.L.C. bought a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,344 shares of the financial services provider's stock, valued at approximately $726,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Benjamin Edwards Inc. lifted its holdings in Pinnacle Financial Partners by 26.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 7,285 shares of the financial services provider's stock worth $714,000 after purchasing an additional 1,526 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Pinnacle Financial Partners by 41.5% in the third quarter. Quantinno Capital Management LP now owns 17,842 shares of the financial services provider's stock valued at $1,748,000 after purchasing an additional 5,236 shares during the period. Pier Capital LLC lifted its stake in shares of Pinnacle Financial Partners by 0.4% in the third quarter. Pier Capital LLC now owns 112,242 shares of the financial services provider's stock worth $10,996,000 after buying an additional 445 shares during the last quarter. Barclays PLC lifted its stake in shares of Pinnacle Financial Partners by 117.0% in the third quarter. Barclays PLC now owns 167,838 shares of the financial services provider's stock worth $16,442,000 after buying an additional 90,478 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Pinnacle Financial Partners by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,328,564 shares of the financial services provider's stock worth $130,192,000 after buying an additional 8,604 shares during the period. Institutional investors and hedge funds own 87.40% of the company's stock.

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Insider Buying and Selling at Pinnacle Financial Partners

In related news, Director Glenda Baskin Glover sold 3,000 shares of the 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 sale, the director now owns 9,943 shares in the company, valued at $1,009,711.65. This trade represents a 23.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David B. Ingram sold 40,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the director now owns 40,991 shares in the company, valued at approximately $5,185,361.50. This trade represents 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 have sold 95,350 shares of company stock valued at $11,421,320. 1.46% of the stock is currently owned by corporate insiders.

Pinnacle Financial Partners Stock Performance

Shares of PNFP traded down $0.29 on Friday, reaching $90.04. 821,787 shares of the stock traded hands, compared to its average volume of 497,697. The stock's 50-day moving average price is $107.69 and its 200-day moving average price is $111.93. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 15.06 and a beta of 0.94. Pinnacle Financial Partners, Inc. has a 12 month low of $73.62 and a 12 month high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.10. The firm had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 EPS. Equities analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 7th were paid a dividend of $0.24 per share. This is a boost from Pinnacle Financial Partners's previous quarterly dividend of $0.22. The ex-dividend date was Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a yield of 1.07%. Pinnacle Financial Partners's dividend payout ratio (DPR) is currently 16.05%.

Analyst Ratings Changes

PNFP has been the topic of several recent analyst reports. Hovde Group cut their target price on shares of Pinnacle Financial Partners from $135.00 to $120.00 and set a "market perform" rating for the company in a research report on Wednesday, April 2nd. Wells Fargo & Company dropped their price objective on Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Barclays decreased their target price on Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday. JPMorgan Chase & Co. lowered their target price on Pinnacle Financial Partners from $140.00 to $138.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Finally, UBS Group began coverage on Pinnacle Financial Partners in a report on Tuesday, December 17th. They set a "neutral" rating and a $133.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.70.

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.