Oxbow Advisors LLC Sells 2,650 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Oxbow Advisors LLC decreased its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 23.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,750 shares of the financial services provider's stock after selling 2,650 shares during the quarter. Oxbow Advisors LLC's holdings in Pinnacle Financial Partners were worth $1,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC raised its position in Pinnacle Financial Partners by 11.6% in the 3rd quarter. FMR LLC now owns 2,716,416 shares of the financial services provider's stock worth $266,127,000 after purchasing an additional 282,016 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 period. The Manufacturers Life Insurance Company raised its position in shares of Pinnacle Financial Partners by 20.5% during 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 acquiring an additional 172,750 shares during the last quarter. Principal Financial Group Inc. lifted its stake 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 valued at $96,332,000 after acquiring an additional 208,938 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Pinnacle Financial Partners by 1.1% in 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 acquiring an additional 9,856 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company's stock.

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Pinnacle Financial Partners Trading Up 0.7 %

NASDAQ:PNFP traded up $0.84 on Wednesday, reaching $113.41. The company's stock had a trading volume of 592,670 shares, compared to its average volume of 466,951. Pinnacle Financial Partners, Inc. has a 1-year low of $73.62 and a 1-year high of $131.91. The business's 50-day moving average price is $118.40 and its two-hundred day moving average price is $110.37. The firm has a market cap of $8.76 billion, a PE ratio of 18.96 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.10. The business had revenue of $475.34 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.68 EPS. Equities research analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 7th will be 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 is Friday, February 7th. This represents a $0.96 annualized dividend and a dividend yield of 0.85%. Pinnacle Financial Partners's dividend payout ratio is currently 16.05%.

Insider Buying and Selling

In related news, Chairman Robert A. Mccabe, Jr. sold 40,000 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $113.81, for a total transaction of $4,552,400.00. Following the completion of the transaction, the chairman now directly owns 83,000 shares in the company, valued at approximately $9,446,230. This trade represents a 32.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Harold R. Carpenter sold 3,051 shares of Pinnacle Financial Partners stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $125.57, for a total value of $383,114.07. Following the completion of the sale, the chief financial officer now directly owns 60,805 shares in the company, valued at approximately $7,635,283.85. This represents a 4.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 166,970 shares of company stock worth $20,474,461 over the last ninety days. Company insiders own 1.87% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on PNFP shares. JPMorgan Chase & Co. lowered their price objective on 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. Citigroup increased their price objective on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a "buy" rating in a report on Tuesday, December 31st. Stephens reaffirmed an "overweight" rating and set a $142.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. UBS Group assumed 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. Finally, Barclays upgraded Pinnacle Financial Partners from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $120.00 to $135.00 in a report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $125.18.

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.