Next Century Growth Investors LLC Buys New Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Next Century Growth Investors LLC bought a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 82,712 shares of the financial services provider's stock, valued at approximately $9,461,000. Next Century Growth Investors LLC owned about 0.11% of Pinnacle Financial Partners at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. grew its position in Pinnacle Financial Partners by 48.1% in the 4th quarter. UMB Bank n.a. now owns 736 shares of the financial services provider's stock worth $84,000 after purchasing an additional 239 shares during the period. Principal Securities Inc. grew its stake in shares of Pinnacle Financial Partners by 12.7% during the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 91 shares during the period. Trust Co. of Vermont bought a new position in shares of Pinnacle Financial Partners in the 4th quarter worth approximately $97,000. Values First Advisors Inc. grew its position in Pinnacle Financial Partners by 189.9% during the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock valued at $167,000 after buying an additional 955 shares during the period. Finally, Blue Trust Inc. raised its position in Pinnacle Financial Partners by 20.6% in the fourth quarter. Blue Trust Inc. now owns 1,586 shares of the financial services provider's stock worth $181,000 after acquiring an additional 271 shares during the period. Hedge funds and other institutional investors own 87.40% of the company's stock.

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Pinnacle Financial Partners Trading Up 1.0 %

Shares of NASDAQ:PNFP traded up $0.98 on Thursday, hitting $95.73. 271,390 shares of the company's stock were exchanged, compared to its average volume of 506,876. The business's 50 day simple moving average is $105.81 and its two-hundred day simple moving average is $111.77. 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 stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 16.03 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 released its quarterly earnings data on Monday, April 14th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.82 by $0.08. The company had revenue of $475.37 million for the quarter, compared to the consensus estimate of $478.11 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. During the same period last year, the business posted $1.53 EPS. Analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.00%. Pinnacle Financial Partners's dividend payout ratio is presently 16.05%.

Insider Activity at Pinnacle Financial Partners

In other news, CEO M Terry Turner sold 2,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total value of $201,260.00. Following the completion of the transaction, the chief executive officer now directly owns 254,552 shares of the company's stock, valued at approximately $25,615,567.76. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David B. Ingram sold 10,309 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.00, for a total value of $1,298,934.00. Following the sale, the director now directly owns 82,256 shares in the company, valued at approximately $10,364,256. The trade was a 11.14 % 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 valued at $11,421,320 over the last ninety days. 1.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

PNFP has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their target price on Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating on the stock in a research report on Thursday. Hovde Group upgraded shares of Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 target price on the stock in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective 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. Citigroup increased their price target on Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a "buy" rating in a research note on Tuesday, December 31st. Finally, Wells Fargo & Company decreased their target price 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, April 9th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $119.50.

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.