Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. lessened its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) by 4.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,168,156 shares of the financial services provider's stock after selling 178,036 shares during the period. T. Rowe Price Investment Management Inc. owned about 5.40% of Pinnacle Financial Partners worth $476,796,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Pinnacle Financial Partners by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 7,200,386 shares of the financial services provider's stock valued at $823,652,000 after purchasing an additional 87,058 shares in the last quarter. FMR LLC boosted its position in Pinnacle Financial Partners by 10.6% in the 4th quarter. FMR LLC now owns 3,003,310 shares of the financial services provider's stock valued at $343,549,000 after buying an additional 286,894 shares during the period. Capital Research Global Investors grew its stake in shares of Pinnacle Financial Partners by 57.0% in the fourth quarter. Capital Research Global Investors now owns 1,559,798 shares of the financial services provider's stock worth $178,425,000 after acquiring an additional 566,061 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Pinnacle Financial Partners by 16.5% during the fourth quarter. Wellington Management Group LLP now owns 1,504,254 shares of the financial services provider's stock worth $172,072,000 after acquiring an additional 213,505 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Pinnacle Financial Partners by 27.0% during the third quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider's stock worth $96,332,000 after acquiring an additional 208,938 shares during the period. Hedge funds and other institutional investors own 87.40% of the company's stock.

Pinnacle Financial Partners Stock Down 0.1 %

Shares of NASDAQ PNFP traded down $0.07 during mid-day trading on Friday, reaching $100.28. The company had a trading volume of 401,228 shares, compared to its average volume of 502,411. The firm has a 50 day simple moving average of $102.45 and a two-hundred day simple moving average of $111.88. Pinnacle Financial Partners, Inc. has a 52-week low of $73.62 and a 52-week high of $131.91. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. The stock has a market cap of $7.76 billion, a P/E ratio of 16.77 and a beta of 0.94.

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 (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $478.11 million. During the same quarter last year, the company posted $1.53 earnings per share. Sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

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

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Director David B. Ingram sold 40,000 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $126.50, for a total transaction of $5,060,000.00. Following the transaction, the director now directly owns 40,991 shares of the company's stock, valued at approximately $5,185,361.50. This trade represents a 49.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO M Terry Turner sold 2,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $25,615,567.76. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,350 shares of company stock worth $11,421,320. 1.46% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PNFP. Hovde Group raised Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 target price for the company in a research note on Wednesday, April 16th. Wells Fargo & Company lowered their price objective on Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. 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. Stephens reiterated an "overweight" rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $119.50.

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.