Charles Schwab Investment Management Inc. Raises Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Charles Schwab Investment Management Inc. increased its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 920,088 shares of the financial services provider's stock after buying an additional 9,856 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.19% of Pinnacle Financial Partners worth $90,141,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in shares of Pinnacle Financial Partners during the second quarter worth $29,000. Ashton Thomas Securities LLC acquired a new position in Pinnacle Financial Partners during the 3rd quarter worth about $30,000. Versant Capital Management Inc grew its position in shares of 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 valued at $35,000 after buying an additional 133 shares during the last quarter. UMB Bank n.a. increased its stake 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 buying 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 worth about $49,000. 87.40% of the stock is owned by institutional investors and hedge funds.

Pinnacle Financial Partners Stock Performance

NASDAQ:PNFP traded down $0.19 on Wednesday, reaching $128.06. 62,476 shares of the company's stock were exchanged, compared to its average volume of 471,615. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 24.38 and a beta of 1.04. 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 stock has a fifty day simple moving average of $107.27 and a 200-day simple moving average of $93.63. Pinnacle Financial Partners, Inc. has a 52 week low of $70.32 and a 52 week high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.07. Pinnacle Financial Partners had a return on equity of 8.89% and a net margin of 13.97%. The firm had revenue of $810.11 million during the quarter, compared to analyst estimates of $454.18 million. During the same period last year, the company earned $1.79 earnings per share. As a group, sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 6.8 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

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

Analysts Set New Price Targets

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

About Pinnacle Financial Partners

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.