International Assets Investment Management LLC Purchases 35,786 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

International Assets Investment Management LLC increased its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 9,804.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,151 shares of the financial services provider's stock after purchasing an additional 35,786 shares during the period. International Assets Investment Management LLC's holdings in Pinnacle Financial Partners were worth $3,542,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNFP. Jennison Associates LLC raised its holdings in shares of Pinnacle Financial Partners by 2.4% in the first quarter. Jennison Associates LLC now owns 1,097,395 shares of the financial services provider's stock worth $94,244,000 after buying an additional 26,216 shares during the period. Atria Investments Inc boosted its stake in shares of Pinnacle Financial Partners by 40.9% during the first quarter. Atria Investments Inc now owns 43,241 shares of the financial services provider's stock valued at $3,713,000 after purchasing an additional 12,551 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Pinnacle Financial Partners by 34.6% in the 1st quarter. Sei Investments Co. now owns 231,604 shares of the financial services provider's stock valued at $19,890,000 after acquiring an additional 59,583 shares during the period. Norden Group LLC purchased a new position in Pinnacle Financial Partners in the first quarter valued at about $1,065,000. Finally, Edgestream Partners L.P. raised its stake in shares of Pinnacle Financial Partners by 1,017.9% during the 2nd quarter. Edgestream Partners L.P. now owns 71,064 shares of the financial services provider's stock worth $5,688,000 after acquiring an additional 64,707 shares in the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PNFP shares. Citigroup increased their price objective on shares of Pinnacle Financial Partners from $113.00 to $123.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Stephens raised their price target on shares of Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Hovde Group raised their price target on shares of Pinnacle Financial Partners from $110.00 to $114.00 and gave the stock an "outperform" rating in a report on Friday, September 27th. Barclays increased their target price on shares of Pinnacle Financial Partners from $101.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company raised their target price on Pinnacle Financial Partners from $100.00 to $104.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $106.60.

Pinnacle Financial Partners Price Performance

Shares of Pinnacle Financial Partners stock traded down $0.59 during trading on Friday, hitting $104.64. 265,384 shares of the company were exchanged, compared to its average volume of 466,535. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 19.89 and a beta of 1.04. Pinnacle Financial Partners, Inc. has a fifty-two week low of $63.36 and a fifty-two week high of $108.43. The firm has a 50 day moving average price of $98.42 and a 200 day moving average price of $88.75.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.07. Pinnacle Financial Partners had a net margin of 13.97% and a return on equity of 8.89%. The company had revenue of $810.11 million during the quarter, compared to analysts' expectations of $454.18 million. During the same period in the previous year, the company earned $1.79 EPS. On average, equities analysts expect that Pinnacle Financial Partners, Inc. will post 6.81 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, November 1st. Pinnacle Financial Partners's dividend payout ratio (DPR) is currently 16.73%.

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.