Pinnacle Financial Partners (NASDAQ:PNFP) Director Charles E. Brock sold 2,162 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $64.71, for a total value of $139,903.02. Following the completion of the sale, the director now directly owns 36,136 shares of the company’s stock, valued at $2,338,360.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Pinnacle Financial Partners (PNFP) opened at $65.55 on Friday. The company has a market capitalization of $5,173.57, a P/E ratio of 18.80, a PEG ratio of 1.01 and a beta of 1.13. Pinnacle Financial Partners has a 52 week low of $58.40 and a 52 week high of $71.55. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.48.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. The firm had revenue of $211.20 million during the quarter, compared to the consensus estimate of $224.62 million. Pinnacle Financial Partners had a return on equity of 7.24% and a net margin of 22.27%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 earnings per share. equities research analysts predict that Pinnacle Financial Partners will post 4.72 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 2nd will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, February 1st. Pinnacle Financial Partners’s payout ratio is 20.00%.
Several analysts have recently commented on the company. BidaskClub downgraded Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, January 26th. Sandler O’Neill set a $76.00 price objective on Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Thursday, January 18th. Zacks Investment Research downgraded Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Stephens raised Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating in a research note on Monday, February 5th. Finally, Keefe, Bruyette & Woods raised Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $76.14.
Institutional investors and hedge funds have recently modified their holdings of the stock. Whittier Trust Co. purchased a new stake in shares of Pinnacle Financial Partners during the fourth quarter valued at approximately $119,000. Tower Research Capital LLC TRC increased its position in shares of Pinnacle Financial Partners by 252.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,929 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 1,381 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Pinnacle Financial Partners by 130.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,300 shares of the financial services provider’s stock valued at $152,000 after acquiring an additional 1,300 shares during the last quarter. Advisor Group Inc. increased its position in shares of Pinnacle Financial Partners by 33.8% during the third quarter. Advisor Group Inc. now owns 3,069 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 775 shares during the last quarter. Finally, Brightworth purchased a new stake in shares of Pinnacle Financial Partners during the third quarter valued at approximately $241,000. 73.64% of the stock is owned by institutional investors.
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.
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