Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Shares Sold by NFC Investments LLC

NFC Investments LLC decreased its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 12.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,200 shares of the financial services provider’s stock after selling 300 shares during the quarter. NFC Investments LLC’s holdings in Pinnacle Financial Partners were worth $216,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PNFP. B. Riley Wealth Advisors Inc. grew its position in shares of Pinnacle Financial Partners by 28.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,412 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 751 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Pinnacle Financial Partners by 26.7% in the 2nd quarter. GAMMA Investing LLC now owns 853 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 180 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Pinnacle Financial Partners by 44.5% in the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 133 shares during the last quarter. Lbmc Investment Advisors LLC lifted its holdings in shares of Pinnacle Financial Partners by 7.1% in the 2nd quarter. Lbmc Investment Advisors LLC now owns 15,564 shares of the financial services provider’s stock worth $1,246,000 after purchasing an additional 1,033 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Pinnacle Financial Partners in the 2nd quarter worth approximately $366,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PNFP. Hovde Group downgraded Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price target on the stock. in a report on Monday, November 18th. Citigroup raised their price target on shares of Pinnacle Financial Partners from $113.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Stephens boosted their price objective on Pinnacle Financial Partners from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price objective on Pinnacle Financial Partners from $104.00 to $120.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Truist Financial lifted their target price on Pinnacle Financial Partners from $113.00 to $119.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Pinnacle Financial Partners has a consensus rating of “Hold” and an average price target of $110.30.

Pinnacle Financial Partners Stock Performance

Shares of NASDAQ:PNFP traded up $0.09 on Tuesday, hitting $125.25. The company’s stock had a trading volume of 40,456 shares, compared to its average volume of 469,693. Pinnacle Financial Partners, Inc. has a 12 month low of $73.62 and a 12 month high of $131.91. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of 23.79 and a beta of 1.08. The stock’s 50-day moving average is $109.45 and its two-hundred day moving average is $94.83. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.07. Pinnacle Financial Partners had a return on equity of 8.89% and a net margin of 13.97%. The business had revenue of $810.11 million during the quarter, compared to analysts’ expectations of $454.18 million. During the same quarter last year, the business posted $1.79 earnings per share. On average, equities research analysts forecast that Pinnacle Financial Partners, Inc. will post 6.8 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 1st were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.88 annualized dividend and a yield of 0.70%. Pinnacle Financial Partners’s dividend payout ratio is currently 16.73%.

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.