Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Holdings Lifted by North Reef Capital Management LP

North Reef Capital Management LP increased its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 57.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,940,000 shares of the financial services provider's stock after purchasing an additional 705,000 shares during the quarter. Pinnacle Financial Partners makes up 10.0% of North Reef Capital Management LP's portfolio, making the stock its 3rd largest holding. North Reef Capital Management LP owned approximately 2.51% of Pinnacle Financial Partners worth $221,917,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. UMB Bank n.a. boosted its position in shares of 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 last quarter. Principal Securities Inc. lifted its position in shares of Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock worth $92,000 after purchasing an additional 91 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of Pinnacle Financial Partners in the 4th quarter valued at about $97,000. Values First Advisors Inc. raised its stake in shares of Pinnacle Financial Partners by 189.9% during the 4th quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock worth $167,000 after purchasing an additional 955 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake 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 valued at $181,000 after acquiring an additional 271 shares during the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pinnacle Financial Partners news, CEO M Terry Turner sold 2,000 shares of the 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 sale, the chief executive officer now owns 254,552 shares in the company, valued at $25,615,567.76. This trade represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David B. Ingram sold 40,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $126.50, for a total transaction of $5,060,000.00. Following the transaction, the director now owns 40,991 shares in the company, valued at approximately $5,185,361.50. The trade was a 49.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,350 shares of company stock worth $11,421,320. 1.46% of the stock is owned by insiders.

Pinnacle Financial Partners Trading Down 0.1 %

Shares of PNFP stock traded down $0.07 during mid-day trading on Friday, reaching $100.28. The stock had a trading volume of 401,228 shares, compared to its average volume of 502,628. Pinnacle Financial Partners, Inc. has a 52-week low of $73.62 and a 52-week high of $131.91. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. The stock's 50-day moving average price is $102.45 and its two-hundred day moving average price is $112.10. The firm has a market capitalization of $7.76 billion, a PE ratio of 16.77 and a beta of 0.94.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.08. The business had revenue of $475.37 million during 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 quarter in the prior year, the company earned $1.53 earnings per share. Equities analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 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, May 30th. Investors of record on Friday, May 2nd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, May 2nd. Pinnacle Financial Partners's dividend payout ratio is currently 15.53%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PNFP. 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 note on Thursday, April 17th. Barclays decreased their price target on Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Stephens reiterated an "overweight" rating and issued a $142.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Hovde Group raised shares of Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 price target for the company in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $119.50.

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.