Van Lanschot Kempen Investment Management N.V. Invests $78.11 Million in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Van Lanschot Kempen Investment Management N.V. bought a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 682,837 shares of the financial services provider's stock, valued at approximately $78,110,000. Van Lanschot Kempen Investment Management N.V. owned 0.88% of Pinnacle Financial Partners as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PNFP. UMB Bank n.a. boosted its stake 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 purchasing an additional 239 shares in the last quarter. Principal Securities Inc. boosted its position 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 acquiring an additional 91 shares in the last quarter. Trust Co. of Vermont purchased a new position in shares of Pinnacle Financial Partners in the 4th quarter valued at $97,000. Values First Advisors Inc. raised its position in shares of Pinnacle Financial Partners by 189.9% in the 4th quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock worth $167,000 after acquiring an additional 955 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Pinnacle Financial Partners by 20.6% in the 4th quarter. Blue Trust Inc. now owns 1,586 shares of the financial services provider's stock worth $181,000 after acquiring an additional 271 shares in the last quarter. Institutional investors own 87.40% of the company's stock.

Insider Activity at Pinnacle Financial Partners

In other news, CEO M Terry Turner sold 2,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total transaction of $201,260.00. Following the sale, the chief executive officer now directly owns 254,552 shares in the company, valued at $25,615,567.76. This trade represents a 0.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Ingram sold 10,309 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.00, for a total value of $1,298,934.00. Following the transaction, the director now owns 82,256 shares in the company, valued at $10,364,256. This represents a 11.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,350 shares of company stock worth $11,421,320. 1.46% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on PNFP shares. Citigroup lifted their target price on Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, December 31st. Wells Fargo & Company cut their price objective on shares of Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. decreased their target price on shares of Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Barclays cut their price target 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. Finally, Stephens reiterated an "overweight" rating and set a $142.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinnacle Financial Partners has an average rating of "Moderate Buy" and a consensus price target of $119.50.

Pinnacle Financial Partners Stock Performance

Shares of Pinnacle Financial Partners stock traded up $0.89 on Wednesday, reaching $97.88. 623,310 shares of the stock were exchanged, compared to its average volume of 503,907. The business has a 50 day moving average price of $103.28 and a two-hundred day moving average price of $111.80. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 16.37 and a beta of 0.94. Pinnacle Financial Partners, Inc. has a twelve month low of $73.62 and a twelve month high of $131.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $0.08. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The firm had revenue of $475.37 million for the quarter, compared to analyst estimates of $478.11 million. During the same quarter in the prior year, the business earned $1.53 earnings per share. 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 announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 2nd will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.98%. Pinnacle Financial Partners's payout ratio is 15.53%.

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.