Natixis Advisors LLC Purchases 2,730 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Natixis Advisors LLC increased its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,016 shares of the financial services provider's stock after buying an additional 2,730 shares during the period. Natixis Advisors LLC owned 0.17% of Pinnacle Financial Partners worth $15,216,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC grew its holdings in shares of Pinnacle Financial Partners by 11.6% during the 3rd quarter. FMR LLC now owns 2,716,416 shares of the financial services provider's stock worth $266,127,000 after acquiring an additional 282,016 shares during the period. Geode Capital Management LLC grew its stake in Pinnacle Financial Partners by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,328,564 shares of the financial services provider's stock worth $130,192,000 after purchasing an additional 8,604 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Pinnacle Financial Partners by 20.5% in the third quarter. The Manufacturers Life Insurance Company now owns 1,015,033 shares of the financial services provider's stock worth $99,443,000 after purchasing an additional 172,750 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Pinnacle Financial Partners by 27.0% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Pinnacle Financial Partners by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 920,088 shares of the financial services provider's stock valued at $90,141,000 after buying an additional 9,856 shares during the period. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Pinnacle Financial Partners

In related news, Director David B. Ingram sold 40,000 shares of Pinnacle Financial Partners stock in a transaction on Thursday, February 6th. The stock was 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 of the company's stock, valued at $5,185,361.50. The trade was a 49.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO M Terry Turner sold 2,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total value of $201,260.00. Following the sale, the chief executive officer now owns 254,552 shares of the company's stock, valued at approximately $25,615,567.76. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,350 shares of company stock worth $11,421,320 over the last quarter. Company insiders own 1.46% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 23rd. Stephens reaffirmed an "overweight" rating and set a $142.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Barclays raised Pinnacle Financial Partners from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $120.00 to $135.00 in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price target on Pinnacle Financial Partners from $140.00 to $138.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $135.00 price objective (up previously from $115.00) on shares of Pinnacle Financial Partners in a research note on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $125.18.

Pinnacle Financial Partners Stock Up 0.4 %

Shares of Pinnacle Financial Partners stock traded up $0.46 on Friday, reaching $105.99. The company's stock had a trading volume of 1,096,896 shares, compared to its average volume of 463,385. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 17.72 and a beta of 1.09. 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, Inc. has a 52 week low of $73.62 and a 52 week high of $131.91. The firm's fifty day simple moving average is $115.58 and its two-hundred day simple moving average is $111.64.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.80 by $0.10. The company had revenue of $475.34 million during the quarter, compared to the consensus estimate of $470.33 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. Pinnacle Financial Partners's revenue for the quarter was up 19.9% on a year-over-year basis. During the same period last year, the company earned $1.68 EPS. Equities analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were given a dividend of $0.24 per share. This is an increase from Pinnacle Financial Partners's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Pinnacle Financial Partners's dividend payout ratio is 16.05%.

Pinnacle Financial Partners Company 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.