Wiley BROS. Aintree Capital LLC Sells 284 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)


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Wiley BROS. Aintree Capital LLC cut its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 3.6% during the first quarter, HoldingsChannel.com reports. The firm owned 7,653 shares of the financial services provider’s stock after selling 284 shares during the period. Wiley BROS. Aintree Capital LLC’s holdings in Pinnacle Financial Partners were worth $679,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNFP. FMR LLC increased its position in shares of Pinnacle Financial Partners by 6.2% during the first quarter. FMR LLC now owns 447,996 shares of the financial services provider’s stock valued at $24,505,000 after purchasing an additional 26,190 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Pinnacle Financial Partners in the 3rd quarter valued at $1,603,000. JPMorgan Chase & Co. boosted its stake in Pinnacle Financial Partners by 36.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 114,652 shares of the financial services provider’s stock valued at $3,995,000 after buying an additional 30,917 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Pinnacle Financial Partners by 2.8% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 98,493 shares of the financial services provider’s stock valued at $3,505,000 after buying an additional 2,694 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Pinnacle Financial Partners by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 598,071 shares of the financial services provider’s stock valued at $21,286,000 after buying an additional 28,565 shares in the last quarter. Institutional investors and hedge funds own 75.44% of the company’s stock.

Several analysts recently commented on PNFP shares. Keefe, Bruyette & Woods boosted their price target on Pinnacle Financial Partners from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, January 21st. Stephens boosted their price target on Pinnacle Financial Partners from $80.00 to $96.00 and gave the company an “overweight” rating in a research note on Tuesday, March 23rd. Raymond James boosted their price target on Pinnacle Financial Partners from $50.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, January 21st. JPMorgan Chase & Co. raised Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $47.00 to $74.00 in a research note on Tuesday, December 15th. Finally, Truist boosted their price objective on Pinnacle Financial Partners from $68.00 to $81.00 in a research note on Thursday, January 21st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $74.00.

Shares of PNFP opened at $90.11 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.43. Pinnacle Financial Partners, Inc. has a 12-month low of $31.84 and a 12-month high of $96.52. The firm has a market capitalization of $6.85 billion, a PE ratio of 23.22 and a beta of 1.37. The stock’s fifty day simple moving average is $87.42 and its 200-day simple moving average is $64.47.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings results on Monday, January 18th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.23. Pinnacle Financial Partners had a return on equity of 6.88% and a net margin of 22.43%. The business had revenue of $304.43 million for the quarter, compared to analyst estimates of $304.54 million. During the same quarter in the prior year, the firm posted $1.27 earnings per share. Analysts anticipate that Pinnacle Financial Partners, Inc. will post 4.1 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 26th. Stockholders of record on Friday, February 5th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Thursday, February 4th. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.16. Pinnacle Financial Partners’s dividend payout ratio is 13.41%.

In related news, Director Gary L. Scott sold 1,887 shares of the company’s stock in a transaction dated Tuesday, March 2nd. The stock was sold at an average price of $82.04, for a total value of $154,809.48. Following the completion of the sale, the director now owns 24,501 shares in the company, valued at $2,010,062.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Harold R. Carpenter sold 3,742 shares of the company’s stock in a transaction dated Friday, January 22nd. The shares were sold at an average price of $71.07, for a total value of $265,943.94. The disclosure for this sale can be found here. Insiders have sold 97,774 shares of company stock worth $7,929,890 in the last ninety days. 2.98% of the stock is currently owned by insiders.

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 in the United States. The company accepts various deposits, including savings, checking, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts.

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Institutional Ownership by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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