Short Interest in Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) Drops By 22.9%

Posted by Emily Schoerning on Sep 30th, 2024

Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP – Get Free Report) saw a significant drop in short interest in September. As of September 15th, there was short interest totalling 6,400 shares, a drop of 22.9% from the August 31st total of 8,300 shares. Based on an average trading volume of 16,900 shares, the short-interest ratio is currently 0.4 days.

Pinnacle Financial Partners Stock Up 0.2 %

Shares of PNFPP traded up $0.04 during mid-day trading on Friday, hitting $24.50. 39,176 shares of the stock were exchanged, compared to its average volume of 14,364. Pinnacle Financial Partners has a 52-week low of $20.50 and a 52-week high of $24.81. The firm has a 50-day moving average of $24.12 and a two-hundred day moving average of $23.74.

Pinnacle Financial Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Saturday, August 17th were given a $0.422 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.69 annualized dividend and a yield of 6.89%.

Hedge Funds Weigh In On Pinnacle Financial Partners

An institutional investor recently bought a new position in Pinnacle Financial Partners stock. Thompson Investment Management Inc. acquired a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,000 shares of the company’s stock, valued at approximately $47,000.

Pinnacle Financial Partners Company Profile

(Get Free Report)

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.