Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) CEO Sells $201,260.00 in Stock

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) 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 completion of the sale, the chief executive officer now directly owns 254,552 shares of the company’s stock, valued at approximately $25,615,567.76. The trade was a 0.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Pinnacle Financial Partners Price Performance

Shares of PNFP opened at $101.38 on Thursday. The firm has a market capitalization of $7.84 billion, a PE ratio of 16.95 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, Inc. has a 1-year low of $73.62 and a 1-year high of $131.91. The company’s fifty day moving average price is $117.04 and its 200-day moving average price is $111.46.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.10. The firm had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 earnings per share. On average, equities research analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 7th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.95%. Pinnacle Financial Partners’s payout ratio is 16.05%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Stephens reaffirmed an “overweight” rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Citigroup lifted their price objective on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. JPMorgan Chase & Co. cut their price objective on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $135.00 price objective (up from $115.00) on shares of Pinnacle Financial Partners in a report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $125.18.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new position in shares of Pinnacle Financial Partners in the third quarter worth about $30,000. Brooklyn Investment Group acquired a new position in shares of Pinnacle Financial Partners in the third quarter worth about $70,000. Kapitalo Investimentos Ltda acquired a new position in shares of Pinnacle Financial Partners in the fourth quarter worth about $78,000. UMB Bank n.a. raised its position in shares of Pinnacle Financial Partners by 48.1% in the fourth 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 period. Finally, Principal Securities Inc. raised its position in shares of Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 91 shares during the period. 87.40% of the stock is currently owned by institutional investors and hedge funds.

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.