IQ EQ FUND MANAGEMENT IRELAND Ltd Has $1.17 Million Stock Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 21.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,254 shares of the financial services provider’s stock after selling 2,869 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Pinnacle Financial Partners were worth $1,173,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new stake in shares of Pinnacle Financial Partners in the third quarter valued at approximately $70,000. UMB Bank n.a. raised its stake in Pinnacle Financial Partners by 48.1% during the 4th 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 during the last quarter. Principal Securities Inc. boosted its holdings in Pinnacle Financial Partners by 12.7% in the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 91 shares during the period. Trust Co. of Vermont acquired a new stake in Pinnacle Financial Partners in the 4th quarter worth $97,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in Pinnacle Financial Partners in the 3rd quarter worth $137,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Analysts Set New Price Targets

PNFP has been the subject of several research reports. Citigroup increased their target price on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. Barclays upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $135.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $135.00 price objective (up from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th. JPMorgan Chase & Co. reduced their target price on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Stephens reiterated an “overweight” rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Pinnacle Financial Partners presently has a consensus rating of “Hold” and a consensus price target of $125.18.

Pinnacle Financial Partners Price Performance

Pinnacle Financial Partners stock opened at $107.39 on Friday. Pinnacle Financial Partners, Inc. has a 52 week low of $73.62 and a 52 week high of $131.91. The firm has a market cap of $8.31 billion, a P/E ratio of 17.96 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90. The business’s fifty day moving average is $114.92 and its two-hundred day moving average is $111.99.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, topping 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 company’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.68 EPS. Equities research analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were issued a $0.24 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 16.05%.

Insider Buying and Selling

In other news, Director David B. Ingram sold 40,000 shares of Pinnacle Financial Partners stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $126.50, for a total value of $5,060,000.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO M Terry Turner sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total value of $201,260.00. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold 95,350 shares of company stock worth $11,421,320 in the last quarter. Insiders own 1.46% of the company’s stock.

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.