Pinnacle Financial Partners, Inc. (PNFP) Director Thomas R. Sloan Sells 15,000 Shares

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Director Thomas R. Sloan sold 15,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $65.97, for a total value of $989,550.00. Following the sale, the director now directly owns 108,257 shares of the company’s stock, valued at approximately $7,141,714.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Pinnacle Financial Partners, Inc. (NASDAQ PNFP) traded down $0.90 during midday trading on Friday, hitting $68.55. The stock had a trading volume of 721,143 shares, compared to its average volume of 367,602. Pinnacle Financial Partners, Inc. has a 1 year low of $58.40 and a 1 year high of $71.55. The company has a market capitalization of $5,397.85, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 1.07 and a beta of 1.31. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.99.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The company had revenue of $216.20 million during the quarter, compared to analyst estimates of $217.13 million. During the same period in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was up 102.8% on a year-over-year basis. sell-side analysts forecast that Pinnacle Financial Partners, Inc. will post 3.56 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. boosted its stake in Pinnacle Financial Partners by 0.3% during the second quarter. Alps Advisors Inc. now owns 7,121 shares of the financial services provider’s stock valued at $447,000 after buying an additional 19 shares during the last quarter. M&T Bank Corp raised its position in Pinnacle Financial Partners by 5.3% during the second quarter. M&T Bank Corp now owns 3,799 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 191 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its position in Pinnacle Financial Partners by 2.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,854 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 209 shares during the period. HighTower Advisors LLC raised its position in Pinnacle Financial Partners by 3.9% during the second quarter. HighTower Advisors LLC now owns 5,820 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 220 shares during the period. Finally, Advisor Group Inc. raised its position in Pinnacle Financial Partners by 14.5% during the second quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 291 shares during the period. 71.75% of the stock is owned by institutional investors.

PNFP has been the subject of several recent research reports. SunTrust Banks reissued a “buy” rating and set a $74.00 price target on shares of Pinnacle Financial Partners in a report on Friday, October 20th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday, October 19th. Hilliard Lyons raised Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Wednesday, December 20th. Finally, BidaskClub raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $75.17.

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Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

Insider Buying and Selling by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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