Pinnacle Financial Partners (NASDAQ:PNFP) CAO Hugh M. Queener sold 7,295 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $57.06, for a total transaction of $416,252.70. Following the sale, the chief accounting officer now owns 225,207 shares of the company’s stock, valued at $12,850,311.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of PNFP stock traded up $0.94 during trading on Friday, reaching $57.95. The company’s stock had a trading volume of 386,078 shares, compared to its average volume of 420,945. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 0.75 and a beta of 1.43. The stock’s 50-day moving average price is $54.96 and its 200 day moving average price is $56.21. Pinnacle Financial Partners has a 1-year low of $43.23 and a 1-year high of $64.85.
Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $259.60 million during the quarter, compared to analysts’ expectations of $252.44 million. Pinnacle Financial Partners had a net margin of 30.46% and a return on equity of 9.82%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 earnings per share. On average, sell-side analysts anticipate that Pinnacle Financial Partners will post 5.3 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, August 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 13.50%.
Hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System grew its holdings in Pinnacle Financial Partners by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 52,504 shares of the financial services provider’s stock worth $3,018,000 after acquiring an additional 172 shares in the last quarter. Woodmont Investment Counsel LLC raised its position in Pinnacle Financial Partners by 0.7% in the 2nd quarter. Woodmont Investment Counsel LLC now owns 34,169 shares of the financial services provider’s stock valued at $1,964,000 after purchasing an additional 250 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Pinnacle Financial Partners by 6.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,479 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 275 shares during the last quarter. First Republic Investment Management Inc. raised its position in Pinnacle Financial Partners by 4.2% in the 1st quarter. First Republic Investment Management Inc. now owns 6,917 shares of the financial services provider’s stock valued at $378,000 after purchasing an additional 277 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Pinnacle Financial Partners by 7.6% in the 2nd quarter. HighTower Advisors LLC now owns 4,600 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 79.76% of the company’s stock.
A number of brokerages have weighed in on PNFP. BidaskClub upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research cut shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a report on Friday. Finally, Stephens restated a “hold” rating and issued a $63.00 price objective on shares of Pinnacle Financial Partners in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $61.33.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.
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