Bfsg LLC Sells 150 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Bfsg LLC trimmed its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,980 shares of the financial services provider’s stock after selling 150 shares during the quarter. Bfsg LLC’s holdings in Pinnacle Financial Partners were worth $347,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Emerald Advisers LLC bought a new stake in shares of Pinnacle Financial Partners in the third quarter worth about $27,000. Fifth Third Bancorp grew its position in Pinnacle Financial Partners by 101.4% in the third quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 213 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Pinnacle Financial Partners in the fourth quarter worth about $32,000. Nomura Asset Management Co. Ltd. grew its position in Pinnacle Financial Partners by 57.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Finally, CWM LLC grew its position in Pinnacle Financial Partners by 62.3% in the fourth quarter. CWM LLC now owns 865 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 332 shares in the last quarter. 87.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Hovde Group dropped their price target on Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating for the company in a research report on Tuesday. Truist Financial lifted their price target on Pinnacle Financial Partners from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Stephens reiterated an “overweight” rating and issued a $109.00 price target on shares of Pinnacle Financial Partners in a research report on Tuesday. Barclays started coverage on Pinnacle Financial Partners in a research report on Friday, March 8th. They set an “equal weight” rating and a $93.00 target price for the company. Finally, UBS Group dropped their target price on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $96.13.

Pinnacle Financial Partners Trading Up 2.0 %

Shares of Pinnacle Financial Partners stock traded up $1.62 on Wednesday, hitting $82.96. 518,146 shares of the company traded hands, compared to its average volume of 466,101. The stock’s 50 day moving average price is $82.34 and its 200-day moving average price is $79.15. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.44. Pinnacle Financial Partners, Inc. has a 52 week low of $43.31 and a 52 week high of $92.33. The company has a market cap of $6.39 billion, a PE ratio of 11.76 and a beta of 1.08.

Insider Activity

In related news, Chairman Richard D. Callicutt II sold 11,030 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $906,886.60. Following the completion of the transaction, the chairman now 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 accessible through this link. In other news, CFO Harold R. Carpenter sold 6,306 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $518,479.32. Following the transaction, the chief financial officer now directly owns 63,856 shares of the company’s stock, valued at $5,250,240.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Richard D. Callicutt II sold 11,030 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was 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 in the company, valued at $7,993,921.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,844 shares of company stock valued at $3,933,734. Corporate insiders own 1.87% of the company’s stock.

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.