Reliant Investment Management LLC Takes Position in Pinnacle Financial Partners, Inc. $PNFP

Reliant Investment Management LLC bought a new position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 58,414 shares of the financial services provider’s stock, valued at approximately $5,479,000. Pinnacle Financial Partners comprises 2.1% of Reliant Investment Management LLC’s portfolio, making the stock its 29th largest holding. Reliant Investment Management LLC owned about 0.08% of Pinnacle Financial Partners at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Pinnacle Financial Partners in the second quarter worth approximately $113,461,000. Balyasny Asset Management L.P. grew its holdings in 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 worth $32,812,000 after buying an additional 271,029 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in Pinnacle Financial Partners in the 2nd quarter valued at $20,932,000. Sei Investments Co. grew its stake in shares of 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 acquiring an additional 170,536 shares in the last quarter. Finally, Holocene Advisors LP raised its holdings in shares of Pinnacle Financial Partners by 139.9% in the second quarter. Holocene Advisors LP now owns 225,148 shares of the financial services provider’s stock valued at $24,859,000 after purchasing an additional 131,280 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PNFP shares. JPMorgan Chase & Co. upped their price objective on shares of Pinnacle Financial Partners from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. 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. DA Davidson initiated coverage on Pinnacle Financial Partners in a research report on Monday, January 5th. They set a “neutral” rating and a $110.00 price target for the company. Evercore Partners initiated coverage on Pinnacle Financial Partners in a research report on Tuesday. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.00.

Insider Activity

In other news, Director G Kennedy Thompson acquired 5,000 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was bought at an average cost of $87.63 per share, for a total transaction of $438,150.00. Following the completion of the transaction, the director owned 33,372 shares of the company’s stock, valued at $2,924,388.36. The trade was a 17.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total transaction of $630,075.00. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. 1.46% of the stock is owned by company insiders.

Pinnacle Financial Partners Price Performance

NASDAQ PNFP opened at $97.10 on Friday. The company has a market cap of $7.53 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 0.48 and a beta of 1.02. 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 firm’s 50-day simple moving average is $94.15 and its two-hundred day simple moving average is $96.44. Pinnacle Financial Partners, Inc. has a 52 week low of $81.57 and a 52 week high of $127.85.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.22. The business had revenue of $544.80 million during the quarter, compared to analyst estimates of $526.40 million. Pinnacle Financial Partners had a net margin of 19.17% and a return on equity of 9.91%. During the same period in the previous year, the business earned $1.86 EPS. Research analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. Pinnacle Financial Partners’s dividend payout ratio is 12.20%.

Pinnacle Financial Partners 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.