Ceredex Value Advisors LLC Trims Stake in Pinnacle Financial Partners, Inc. $PNFP

Ceredex Value Advisors LLC cut its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 9.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,200 shares of the financial services provider’s stock after selling 13,875 shares during the period. Ceredex Value Advisors LLC’s holdings in Pinnacle Financial Partners were worth $11,930,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PNFP. Norges Bank bought a new stake in Pinnacle Financial Partners during the 2nd quarter worth approximately $113,461,000. First Trust Advisors LP boosted its position in shares of Pinnacle Financial Partners by 341.5% in the third quarter. First Trust Advisors LP now owns 411,436 shares of the financial services provider’s stock worth $38,589,000 after purchasing an additional 318,243 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of Pinnacle Financial Partners by 1,036.4% in 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 purchasing an additional 271,029 shares in the last quarter. Impax Asset Management Group plc increased its stake in shares of Pinnacle Financial Partners by 248.2% in the third quarter. Impax Asset Management Group plc now owns 348,237 shares of the financial services provider’s stock worth $32,661,000 after purchasing an additional 248,237 shares in the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Pinnacle Financial Partners during the 2nd quarter valued at $20,932,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was acquired at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the acquisition, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at $4,677,322.20. This represents a 2.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.46% of the stock is owned by corporate insiders.

Pinnacle Financial Partners Stock Down 1.0%

Shares of PNFP stock opened at $86.45 on Wednesday. The company’s fifty day simple moving average is $96.13 and its two-hundred day simple moving average is $94.30. Pinnacle Financial Partners, Inc. has a 52 week low of $81.57 and a 52 week high of $120.46. The stock has a market cap of $6.71 billion, a P/E ratio of 10.98, a PEG 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.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 6th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is presently 24.72%.

Analyst Ratings Changes

PNFP has been the subject of several recent analyst reports. Truist Financial set a $100.00 target price on shares of Pinnacle Financial Partners in a report on Friday, January 9th. Keefe, Bruyette & Woods boosted their price objective on Pinnacle Financial Partners from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Friday, January 9th. Bank of America started coverage on Pinnacle Financial Partners in a research note on Monday, December 8th. They issued a “buy” rating and a $113.00 price objective for the company. Citigroup increased their target price on Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. lifted their target price on 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 investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.41.

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.