Krilogy Financial LLC Acquires New Shares in Pinnacle Financial Partners, Inc. $PNFP

Krilogy Financial LLC purchased a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the third quarter, Holdings Channel reports. The institutional investor purchased 8,291 shares of the financial services provider’s stock, valued at approximately $717,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. EJF Capital LLC grew its position in shares of Pinnacle Financial Partners by 2.5% in the 2nd quarter. EJF Capital LLC now owns 5,138 shares of the financial services provider’s stock valued at $567,000 after purchasing an additional 127 shares during the period. Profund Advisors LLC raised its stake in shares of Pinnacle Financial Partners by 4.6% in the 3rd quarter. Profund Advisors LLC now owns 2,895 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 127 shares during the period. Portside Wealth Group LLC lifted its stake in Pinnacle Financial Partners by 7.0% in the 2nd quarter. Portside Wealth Group LLC now owns 1,960 shares of the financial services provider’s stock valued at $216,000 after acquiring an additional 128 shares in the last quarter. Amalgamated Bank boosted its holdings in Pinnacle Financial Partners by 0.4% during the second quarter. Amalgamated Bank now owns 35,195 shares of the financial services provider’s stock worth $3,886,000 after purchasing an additional 133 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Pinnacle Financial Partners by 4.6% during the 2nd quarter. ProShare Advisors LLC now owns 3,409 shares of the financial services provider’s stock worth $376,000 after buying an additional 149 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PNFP. Wells Fargo & Company decreased their target price on shares of Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, October 17th. Royal Bank Of Canada raised Pinnacle Financial Partners to a “moderate buy” rating in a report on Monday, January 5th. DA Davidson initiated coverage on shares of Pinnacle Financial Partners in a research note on Monday, January 5th. They issued a “neutral” rating and a $110.00 price target on the stock. Evercore raised their price objective on Pinnacle Financial Partners from $115.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Finally, Bank of America initiated coverage on shares of Pinnacle Financial Partners in a report on Monday, December 8th. They set a “buy” rating and a $113.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $113.41.

Pinnacle Financial Partners Stock Up 1.1%

Shares of NASDAQ:PNFP opened at $96.19 on Friday. The business has a fifty day simple moving average of $98.28 and a 200 day simple moving average of $93.94. Pinnacle Financial Partners, Inc. has a 12-month low of $81.57 and a 12-month high of $122.01. The firm has a market cap of $7.46 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.48 and a beta of 1.03. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 6th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is 24.72%.

Insider Activity

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total value of $630,075.00. Following the transaction, the chairman directly owned 202,505 shares of the company’s stock, valued at $18,832,965. The trade was a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew J. Jr. Gregory bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were acquired at an average cost of $94.52 per share, with a total value of $94,520.00. Following the purchase, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at $4,677,322.20. This trade represents a 2.06% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.46% of the company’s stock.

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.