CapWealth Advisors LLC Makes New $203,000 Investment in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

CapWealth Advisors LLC acquired a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,329 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PNFP. American Century Companies Inc. raised its position in shares of Pinnacle Financial Partners by 12.1% during the first quarter. American Century Companies Inc. now owns 6,848 shares of the financial services provider’s stock worth $631,000 after purchasing an additional 738 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Pinnacle Financial Partners in the first quarter valued at approximately $101,000. PNC Financial Services Group Inc. increased its position in shares of Pinnacle Financial Partners by 76.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,527 shares of the financial services provider’s stock worth $600,000 after acquiring an additional 2,838 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Pinnacle Financial Partners by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,903 shares of the financial services provider’s stock worth $2,569,000 after acquiring an additional 2,660 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Pinnacle Financial Partners by 1.5% during the first quarter. BlackRock Inc. now owns 6,935,015 shares of the financial services provider’s stock worth $638,577,000 after acquiring an additional 104,706 shares during the period. Institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Up 0.5 %

Shares of NASDAQ PNFP traded up $0.41 during trading hours on Thursday, hitting $78.74. The company had a trading volume of 180,763 shares, compared to its average volume of 442,131. Pinnacle Financial Partners, Inc. has a 1-year low of $43.31 and a 1-year high of $92.33. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $82.45 and its 200-day moving average is $78.64. The stock has a market capitalization of $6.07 billion, a P/E ratio of 10.91 and a beta of 1.08.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.01. The company had revenue of $396.34 million during the quarter, compared to the consensus estimate of $416.97 million. Pinnacle Financial Partners had a net margin of 20.17% and a return on equity of 9.78%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 EPS. On average, analysts expect that Pinnacle Financial Partners, Inc. will post 6.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

PNFP has been the subject of several recent research reports. Barclays began coverage on Pinnacle Financial Partners in a research report on Friday, March 8th. They set an “equal weight” rating and a $93.00 price objective for the company. Stephens reaffirmed an “overweight” rating and set a $108.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday, January 17th. Jefferies Financial Group decreased their price target on shares of Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating for the company in a research note on Monday, April 8th. UBS Group cut their price objective on shares of Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, January 18th. Finally, Truist Financial increased their target price on shares of Pinnacle Financial Partners from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $92.57.

Insider Activity

In related news, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $87.43, for a total transaction of $553,519.33. Following the completion of the transaction, the chairman now owns 202,699 shares in the company, valued at $17,721,973.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Richard D. Callicutt II sold 11,030 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $906,886.60. Following the transaction, the chairman now directly owns 97,226 shares of the company’s stock, valued at $7,993,921.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $87.43, for a total transaction of $553,519.33. Following the sale, the chairman now owns 202,699 shares of the company’s stock, valued at approximately $17,721,973.57. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,175 shares of company stock valued at $4,487,253. 1.87% of the stock is owned by company insiders.

About Pinnacle Financial Partners

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.