Savant Capital LLC bought a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,137 shares of the financial services provider's stock, valued at approximately $244,000.
Other large investors have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Pinnacle Financial Partners during the 3rd quarter worth approximately $30,000. Values First Advisors Inc. acquired a new position in Pinnacle Financial Partners during the 3rd quarter worth approximately $49,000. Brooklyn Investment Group acquired a new position in Pinnacle Financial Partners during the 3rd quarter worth approximately $70,000. UMB Bank n.a. boosted its position in Pinnacle Financial Partners by 48.1% during 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 during the last quarter. Finally, Trust Co. of Vermont acquired a new position in Pinnacle Financial Partners during the 4th quarter worth approximately $97,000. 87.40% of the stock is owned by institutional investors.
Pinnacle Financial Partners Stock Performance
Pinnacle Financial Partners stock traded down $4.07 during mid-day trading on Friday, hitting $114.21. 304,709 shares of the company's stock traded hands, compared to its average volume of 431,933. The firm has a 50 day simple moving average of $118.68 and a two-hundred day simple moving average of $109.45. Pinnacle Financial Partners, Inc. has a fifty-two week low of $73.62 and a fifty-two week high of $131.91. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 19.10 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.
Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last announced its quarterly earnings results 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. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The business had revenue of $475.34 million during the quarter, compared to the consensus estimate of $470.33 million. During the same quarter last year, the firm posted $1.68 EPS. The company's quarterly revenue was up 19.9% on a year-over-year basis. On average, research analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.
Pinnacle Financial Partners Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 7th will be issued 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 of this dividend is Friday, February 7th. This represents a $0.96 annualized dividend and a yield of 0.84%. Pinnacle Financial Partners's dividend payout ratio (DPR) is currently 16.05%.
Analyst Ratings Changes
A number of equities analysts have weighed in on PNFP shares. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $135.00 price target (up previously from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th. JPMorgan Chase & Co. reduced their price target 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. Wells Fargo & Company upped their price target on Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 23rd. Barclays raised Pinnacle Financial Partners from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $120.00 to $135.00 in a report on Thursday, December 19th. Finally, UBS Group began coverage on Pinnacle Financial Partners in a report on Tuesday, December 17th. They issued a "neutral" rating and a $133.00 price objective for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $125.18.
View Our Latest Stock Analysis on Pinnacle Financial Partners
Insiders Place Their Bets
In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 3,051 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $125.57, for a total transaction of $383,114.07. Following the transaction, the chief financial officer now owns 60,805 shares in the company, valued at $7,635,283.85. This trade represents a 4.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David B. Ingram sold 20,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $126.02, for a total value of $2,520,400.00. Following the transaction, the director now owns 92,565 shares in the company, valued at $11,665,041.30. The trade was a 17.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 126,970 shares of company stock worth $15,922,061 in the last 90 days. Company insiders own 1.87% of the company's stock.
Pinnacle Financial Partners Profile
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Free Report)
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.
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