Salzhauer Michael Trims Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Salzhauer Michael cut its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 16.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,323 shares of the financial services provider's stock after selling 9,006 shares during the period. Pinnacle Financial Partners comprises approximately 1.9% of Salzhauer Michael's investment portfolio, making the stock its 12th biggest holding. Salzhauer Michael owned approximately 0.06% of Pinnacle Financial Partners worth $5,413,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PNFP. UMB Bank n.a. increased its holdings in Pinnacle Financial Partners by 48.1% in the 4th quarter. UMB Bank n.a. now owns 736 shares of the financial services provider's stock worth $84,000 after acquiring an additional 239 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after acquiring an additional 91 shares in the last quarter. Trust Co. of Vermont purchased a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth approximately $97,000. Values First Advisors Inc. boosted its stake in Pinnacle Financial Partners by 189.9% during the 4th quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock worth $167,000 after purchasing an additional 955 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Pinnacle Financial Partners by 20.6% in the fourth quarter. Blue Trust Inc. now owns 1,586 shares of the financial services provider's stock worth $181,000 after buying an additional 271 shares in the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Stock Up 2.6 %

NASDAQ:PNFP traded up $2.39 during midday trading on Tuesday, hitting $96.07. 69,303 shares of the company were exchanged, compared to its average volume of 506,181. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. 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 market capitalization of $7.43 billion, a PE ratio of 16.04 and a beta of 0.94. The company has a fifty day simple moving average of $104.19 and a 200 day simple moving average of $112.00.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.08. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The company had revenue of $475.37 million during the quarter, compared to analysts' expectations of $478.11 million. During the same quarter in the previous year, the business earned $1.53 earnings per share. As a group, equities analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, May 2nd. Pinnacle Financial Partners's dividend payout ratio (DPR) is presently 15.53%.

Analyst Ratings Changes

PNFP has been the subject of a number of analyst reports. Keefe, Bruyette & Woods dropped their price target on Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut their target price on Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company cut their price objective on Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Stephens reiterated an "overweight" rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Finally, Barclays reduced their target price on shares of Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Pinnacle Financial Partners presently has a consensus rating of "Moderate Buy" and an average target price of $119.50.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, Director David B. Ingram sold 10,309 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 82,256 shares of the company's stock, valued at $10,364,256. The trade was a 11.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO M Terry Turner sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total value of $201,260.00. Following the completion of the transaction, the chief executive officer now owns 254,552 shares of the company's stock, valued at approximately $25,615,567.76. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,350 shares of company stock valued at $11,421,320. 1.46% of the stock is owned by company insiders.

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.