Keybank National Association OH Sells 2,837 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Keybank National Association OH lowered its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 50.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,807 shares of the financial services provider's stock after selling 2,837 shares during the quarter. Keybank National Association OH's holdings in Pinnacle Financial Partners were worth $321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of PNFP. Ashton Thomas Securities LLC bought a new position in Pinnacle Financial Partners during the third quarter worth $30,000. Brooklyn Investment Group bought a new position in shares of Pinnacle Financial Partners in the third quarter valued at $70,000. UMB Bank n.a. grew its holdings 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 buying an additional 239 shares during the last quarter. Principal Securities Inc. boosted its stake in Pinnacle Financial Partners by 12.7% during the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 91 shares during the last quarter. Finally, Trust Co. of Vermont purchased a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at approximately $97,000. Institutional investors own 87.40% of the company's stock.

Pinnacle Financial Partners Price Performance

PNFP stock traded up $2.79 during mid-day trading on Friday, reaching $102.82. 561,019 shares of the company traded hands, compared to its average volume of 461,917. The company has a fifty day moving average price of $116.77 and a 200-day moving average price of $111.38. Pinnacle Financial Partners, Inc. has a 52-week low of $73.62 and a 52-week high of $131.91. The company has a market capitalization of $7.95 billion, a P/E ratio of 17.19 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90.

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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 EPS for the quarter, beating the consensus estimate of $1.80 by $0.10. The company had revenue of $475.34 million during the quarter, compared to analysts' expectations of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. Pinnacle Financial Partners's revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.68 earnings per share. As a group, analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 7th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Pinnacle Financial Partners's previous quarterly dividend of $0.22. Pinnacle Financial Partners's dividend payout ratio (DPR) is 16.05%.

Insider Transactions at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CEO M Terry Turner sold 2,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total transaction of $201,260.00. Following the completion of the sale, the chief executive officer now directly owns 254,552 shares in the company, valued at $25,615,567.76. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David B. Ingram sold 10,309 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $126.00, for a total transaction of $1,298,934.00. Following the completion of the transaction, the director now directly owns 82,256 shares in the company, valued at $10,364,256. The trade was a 11.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,350 shares of company stock valued at $11,116,670. 1.46% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PNFP has been the subject of a number of recent analyst reports. UBS Group assumed coverage on shares of Pinnacle Financial Partners in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $133.00 price objective for the company. Wells Fargo & Company lifted their price target on Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an "equal weight" rating in a report on Thursday, January 23rd. Stephens restated an "overweight" rating and issued a $142.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. 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. Finally, Barclays raised shares of Pinnacle Financial Partners from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock 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 assigned a buy rating to the stock. According to data from MarketBeat, Pinnacle Financial Partners has an average 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.