Pinnacle Financial Partners, Inc. $PNFP Shares Bought by Voya Investment Management LLC

Voya Investment Management LLC lifted its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 146.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,183 shares of the financial services provider’s stock after acquiring an additional 14,951 shares during the period. Voya Investment Management LLC’s holdings in Pinnacle Financial Partners were worth $2,362,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Pinnacle Financial Partners during the 2nd quarter valued at about $113,461,000. Millennium Management LLC bought a new stake in shares of Pinnacle Financial Partners during the first quarter valued at approximately $77,207,000. Balyasny Asset Management L.P. raised its holdings in shares of Pinnacle Financial Partners by 1,036.4% during the second quarter. Balyasny Asset Management L.P. now owns 297,181 shares of the financial services provider’s stock valued at $32,812,000 after buying an additional 271,029 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Pinnacle Financial Partners during the second quarter worth approximately $20,932,000. Finally, Sei Investments Co. grew its holdings in Pinnacle Financial Partners by 82.7% in the 2nd quarter. Sei Investments Co. now owns 376,762 shares of the financial services provider’s stock worth $41,598,000 after buying an additional 170,536 shares in the last quarter. 87.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on PNFP shares. Wells Fargo & Company cut their target price on Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, October 17th. TD Cowen began coverage on Pinnacle Financial Partners in a report on Thursday, September 25th. They set a “buy” rating and a $122.00 price target on the stock. Raymond James Financial upgraded shares of Pinnacle Financial Partners from a “market perform” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a research note on Thursday, December 11th. UBS Group reduced their price objective on shares of Pinnacle Financial Partners from $104.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Pinnacle Financial Partners from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.38.

Insider Activity at Pinnacle Financial Partners

In related news, Director G Kennedy Thompson purchased 5,000 shares of the company’s stock in a transaction on Monday, October 20th. The shares were bought at an average price of $87.63 per share, with a total value of $438,150.00. Following the completion of the acquisition, the director owned 33,372 shares of the company’s stock, valued at approximately $2,924,388.36. This represents a 17.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total value of $630,075.00. Following the sale, the chairman directly owned 202,505 shares of the company’s stock, valued at approximately $18,832,965. This represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Price Performance

NASDAQ:PNFP opened at $100.79 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $92.07 and its 200 day moving average price is $96.98. Pinnacle Financial Partners, Inc. has a 52-week low of $81.57 and a 52-week high of $127.85. The firm has a market cap of $7.82 billion, a P/E ratio of 12.81, a PEG ratio of 0.62 and a beta of 1.06.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.22. Pinnacle Financial Partners had a net margin of 19.17% and a return on equity of 9.91%. The company had revenue of $544.80 million during the quarter, compared to analyst estimates of $526.40 million. During the same quarter last year, the firm posted $1.86 EPS. As a group, sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 7th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, November 7th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 12.20%.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.