M Terry Turner Sells 2,000 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Stock

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) CEO M Terry Turner sold 2,000 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 254,552 shares of the company’s stock, valued at $25,615,567.76. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Pinnacle Financial Partners Trading Down 1.3 %

NASDAQ PNFP opened at $100.03 on Friday. Pinnacle Financial Partners, Inc. has a 1 year low of $73.62 and a 1 year high of $131.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $7.74 billion, a PE ratio of 16.73 and a beta of 1.09. The company has a fifty day moving average of $116.77 and a 200 day moving average of $111.38.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.10. The business had revenue of $475.34 million during the quarter, compared to analysts’ expectations of $470.33 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 EPS. Research analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.96%. The ex-dividend date was Friday, February 7th. 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PNFP shares. Wells Fargo & Company raised their price target on Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Barclays raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $120.00 to $135.00 in a research report on Thursday, December 19th. Hovde Group lowered shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price target on the stock. in a research note on Monday, November 18th. Citigroup lifted their price objective on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $135.00 price objective (up from $115.00) on shares of Pinnacle Financial Partners in a research note 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus 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 PNFP. Victory Capital Management Inc. boosted its stake in shares of Pinnacle Financial Partners by 17.9% during the 3rd quarter. Victory Capital Management Inc. now owns 186,612 shares of the financial services provider’s stock worth $18,282,000 after acquiring an additional 28,327 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Pinnacle Financial Partners in the 3rd quarter worth about $3,606,000. KBC Group NV boosted its position in Pinnacle Financial Partners by 1,054.3% during the fourth quarter. KBC Group NV now owns 26,722 shares of the financial services provider’s stock worth $3,057,000 after purchasing an additional 24,407 shares in the last quarter. Artemis Investment Management LLP grew its holdings in Pinnacle Financial Partners by 2.6% in the fourth quarter. Artemis Investment Management LLP now owns 482,672 shares of the financial services provider’s stock valued at $55,213,000 after purchasing an additional 12,455 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Pinnacle Financial Partners by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,328,564 shares of the financial services provider’s stock valued at $130,192,000 after buying an additional 8,604 shares in the last quarter. Hedge funds and other institutional investors own 87.40% 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.