Orion Portfolio Solutions LLC Has $4.46 Million Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Orion Portfolio Solutions LLC reduced its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,985 shares of the financial services provider's stock after selling 6,278 shares during the quarter. Orion Portfolio Solutions LLC owned approximately 0.05% of Pinnacle Financial Partners worth $4,460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. KBC Group NV lifted its position in shares of Pinnacle Financial Partners by 1,054.3% during the fourth quarter. KBC Group NV now owns 26,722 shares of the financial services provider's stock worth $3,057,000 after purchasing an additional 24,407 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in Pinnacle Financial Partners by 2.6% during the 4th quarter. Artemis Investment Management LLP now owns 482,672 shares of the financial services provider's stock worth $55,213,000 after buying an additional 12,455 shares in the last quarter. Geode Capital Management LLC boosted its position in Pinnacle Financial Partners by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,328,564 shares of the financial services provider's stock valued at $130,192,000 after buying an additional 8,604 shares during the last quarter. Beacon Capital Management LLC increased its stake in shares of Pinnacle Financial Partners by 101,563.6% in the 4th quarter. Beacon Capital Management LLC now owns 22,366 shares of the financial services provider's stock valued at $2,558,000 after buying an additional 22,344 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Pinnacle Financial Partners by 27.0% during the third quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider's stock worth $96,332,000 after acquiring an additional 208,938 shares during the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several analysts have weighed in on PNFP shares. Hovde Group dropped their price objective on Pinnacle Financial Partners from $135.00 to $120.00 and set a "market perform" rating for the company in a report on Wednesday. Wells Fargo & Company boosted 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. Citigroup raised their price objective on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, December 31st. JPMorgan Chase & Co. dropped their target price on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group started coverage on Pinnacle Financial Partners in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $133.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $123.82.

Insider Activity

In other Pinnacle Financial Partners news, Director Glenda Baskin Glover sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $101.55, for a total value of $304,650.00. Following the completion of the transaction, the director now directly owns 9,943 shares in the company, valued at $1,009,711.65. This trade represents a 23.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David B. Ingram sold 40,000 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 40,991 shares in the company, valued at $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. Insiders have sold a total of 95,350 shares of company stock worth $11,421,320 over the last three months. Corporate insiders own 1.46% of the company's stock.

Pinnacle Financial Partners Stock Down 5.1 %

Shares of PNFP traded down $4.64 on Friday, hitting $87.19. The company's stock had a trading volume of 1,694,770 shares, compared to its average volume of 485,616. The firm's fifty day moving average price is $112.41 and its 200-day moving average price is $112.29. Pinnacle Financial Partners, Inc. has a fifty-two week low of $73.62 and a fifty-two week 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 $6.75 billion, a price-to-earnings ratio of 14.58 and a beta of 0.94.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its quarterly 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. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The company had revenue of $475.34 million during the quarter, compared to analysts' expectations of $470.33 million. During the same quarter in the prior year, the company earned $1.68 earnings per share. The business's quarterly revenue was up 19.9% compared to the same quarter last year. On average, equities research analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 7th were paid a $0.24 dividend. This is an increase from Pinnacle Financial Partners's previous quarterly dividend of $0.22. The ex-dividend date was Friday, February 7th. This represents a $0.96 annualized dividend and a dividend yield of 1.10%. Pinnacle Financial Partners's dividend payout ratio (DPR) is currently 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.