Interval Partners LP Has $3.17 Million Stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Interval Partners LP trimmed its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 56.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 36,866 shares of the financial services provider’s stock after selling 47,555 shares during the period. Interval Partners LP’s holdings in Pinnacle Financial Partners were worth $3,166,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in PNFP. Rise Advisors LLC acquired a new position in Pinnacle Financial Partners during the first quarter valued at approximately $26,000. ICA Group Wealth Management LLC acquired a new stake in Pinnacle Financial Partners during the fourth quarter worth about $44,000. Principal Securities Inc. bought a new position in Pinnacle Financial Partners in the 4th quarter valued at approximately $60,000. Mather Group LLC. acquired a new stake in Pinnacle Financial Partners during the 1st quarter valued at approximately $65,000. Finally, CWM LLC grew its position in shares of Pinnacle Financial Partners by 62.3% during the 4th quarter. CWM LLC now owns 865 shares of the financial services provider’s stock worth $75,000 after buying an additional 332 shares during the period. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Stock Performance

Shares of NASDAQ:PNFP traded down $0.10 during trading on Wednesday, hitting $96.94. 117,426 shares of the stock traded hands, compared to its average volume of 457,527. The company has a fifty day moving average price of $81.91 and a two-hundred day moving average price of $82.59. Pinnacle Financial Partners, Inc. has a 52-week low of $59.66 and a 52-week high of $98.58. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 13.88 and a beta of 1.08. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 2nd will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $0.88 annualized dividend and a dividend yield of 0.91%. Pinnacle Financial Partners’s dividend payout ratio is presently 12.59%.

Analyst Upgrades and Downgrades

PNFP has been the subject of several research reports. Stephens reduced their price target on shares of Pinnacle Financial Partners from $109.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Jefferies Financial Group lowered their price objective on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Citigroup lifted their target price on Pinnacle Financial Partners from $93.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Piper Sandler lowered Pinnacle Financial Partners from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $95.00 to $98.00 in a report on Thursday, July 18th. Finally, Wells Fargo & Company boosted their price objective on Pinnacle Financial Partners from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Pinnacle Financial Partners currently has an average rating of “Hold” and a consensus price target of $99.00.

Pinnacle Financial Partners 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.