Loomis Sayles & Co. L P Sells 6,918 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Loomis Sayles & Co. L P lessened its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 182,787 shares of the financial services provider's stock after selling 6,918 shares during the quarter. Loomis Sayles & Co. L P owned 0.24% of Pinnacle Financial Partners worth $17,908,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PNFP. International Assets Investment Management LLC purchased a new stake in shares of Pinnacle Financial Partners during the second quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in Pinnacle Financial Partners during the 3rd quarter valued at $30,000. Versant Capital Management Inc grew its holdings in Pinnacle Financial Partners by 44.5% in the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider's stock worth $35,000 after acquiring an additional 133 shares during the last quarter. UMB Bank n.a. increased its position in shares of Pinnacle Financial Partners by 83.4% in the third quarter. UMB Bank n.a. now owns 497 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 226 shares during the period. Finally, Values First Advisors Inc. bought a new position in shares of Pinnacle Financial Partners during the third quarter valued at about $49,000. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Stock Down 1.2 %

NASDAQ:PNFP opened at $128.25 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The firm's 50-day moving average price is $107.27 and its 200-day moving average price is $93.63. The company has a market capitalization of $9.91 billion, a PE ratio of 24.38 and a beta of 1.04. Pinnacle Financial Partners, Inc. has a 1-year low of $70.32 and a 1-year high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.07. Pinnacle Financial Partners had a net margin of 13.97% and a return on equity of 8.89%. The business had revenue of $810.11 million for the quarter, compared to analysts' expectations of $454.18 million. During the same quarter in the prior year, the company earned $1.79 earnings per share. On average, equities analysts predict that Pinnacle Financial Partners, Inc. will post 6.8 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 1st will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, November 1st. Pinnacle Financial Partners's dividend payout ratio (DPR) is presently 16.73%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Hovde Group cut Pinnacle Financial Partners from an "outperform" rating to a "market perform" rating and set a $135.00 target price on the stock. in a research note on Monday, November 18th. Stephens boosted their target price on Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Citigroup raised their price target on Pinnacle Financial Partners from $113.00 to $123.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Barclays boosted their price objective on shares of Pinnacle Financial Partners from $101.00 to $108.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company raised their target price on shares of Pinnacle Financial Partners from $100.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $108.70.

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.