Northwest & Ethical Investments L.P. Has $448,000 Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Northwest & Ethical Investments L.P. lifted its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 180.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,925 shares of the financial services provider's stock after buying an additional 2,525 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Pinnacle Financial Partners were worth $448,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PNFP. Brooklyn Investment Group acquired a new position in Pinnacle Financial Partners during the 3rd quarter valued at about $70,000. UMB Bank n.a. increased its stake in shares of Pinnacle Financial Partners by 48.1% during the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider's stock valued at $84,000 after acquiring an additional 239 shares during the period. Principal Securities Inc. increased its stake in shares of Pinnacle Financial Partners by 12.7% during the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after acquiring an additional 91 shares during the period. Trust Co. of Vermont bought a new stake in Pinnacle Financial Partners during the fourth quarter worth approximately $97,000. Finally, Values First Advisors Inc. lifted its position in Pinnacle Financial Partners by 189.9% in the fourth 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 during the period. 87.40% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several analysts have recently weighed in on PNFP shares. UBS Group began coverage on Pinnacle Financial Partners in a report on Tuesday, December 17th. They issued a "neutral" rating and a $133.00 price objective for the company. Barclays raised shares of Pinnacle Financial Partners from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $120.00 to $135.00 in a research note on Thursday, December 19th. Wells Fargo & Company lifted 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 report on Thursday, January 23rd. Stephens reaffirmed an "overweight" rating and issued a $142.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Finally, Citigroup raised their price objective 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $125.18.

Pinnacle Financial Partners Stock Down 1.4 %

Shares of Pinnacle Financial Partners stock traded down $1.51 during midday trading on Wednesday, hitting $108.68. The company's stock had a trading volume of 361,299 shares, compared to its average volume of 464,025. Pinnacle Financial Partners, Inc. has a 1-year low of $73.62 and a 1-year high of $131.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $8.41 billion, a P/E ratio of 18.17 and a beta of 1.09. The stock has a 50-day simple moving average of $115.36 and a 200-day simple moving average of $112.05.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.10. The company had revenue of $475.34 million for the quarter, compared to analysts' expectations of $470.33 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. 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 business posted $1.68 EPS. As a group, sell-side analysts expect 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. Shareholders of record on Friday, February 7th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Pinnacle Financial Partners's previous quarterly dividend of $0.22. Pinnacle Financial Partners's dividend payout ratio is currently 16.05%.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, Director Glenda Baskin Glover sold 3,000 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $101.55, for a total value of $304,650.00. Following the transaction, the director now directly owns 9,943 shares of the company's stock, valued at $1,009,711.65. This represents a 23.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO M Terry Turner sold 2,000 shares of the firm's stock in a transaction dated 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 directly owns 254,552 shares of the company's stock, valued at $25,615,567.76. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,350 shares of company stock worth $11,421,320 in the last quarter. 1.46% of the stock is currently owned by corporate insiders.

Pinnacle Financial Partners 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.