New York State Teachers Retirement System Sells 5,824 Shares of Pinnacle Financial Partners, Inc. $PNFP

New York State Teachers Retirement System decreased its holdings in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 4.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 114,891 shares of the company’s stock after selling 5,824 shares during the quarter. New York State Teachers Retirement System’s holdings in Pinnacle Financial Partners were worth $10,962,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Pinnacle Financial Partners by 97.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,073 shares of the company’s stock worth $4,327,000 after buying an additional 23,292 shares during the period. Jones Financial Companies Lllp lifted its holdings in Pinnacle Financial Partners by 585.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 18,419 shares of the company’s stock worth $1,768,000 after buying an additional 15,732 shares during the period. Yousif Capital Management LLC lifted its holdings in Pinnacle Financial Partners by 92.4% in the 4th quarter. Yousif Capital Management LLC now owns 46,456 shares of the company’s stock worth $4,519,000 after buying an additional 22,306 shares during the period. Hudson Bay Capital Management LP purchased a new stake in Pinnacle Financial Partners in the 3rd quarter worth approximately $1,128,000. Finally, Woodmont Investment Counsel LLC lifted its stake in shares of Pinnacle Financial Partners by 43.1% in the 3rd quarter. Woodmont Investment Counsel LLC now owns 94,388 shares of the company’s stock valued at $8,853,000 after purchasing an additional 28,445 shares during the period. Institutional investors own 87.40% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average price of $94.52 per share, with a total value of $94,520.00. Following the transaction, the chief financial officer directly owned 49,485 shares in the company, valued at approximately $4,677,322.20. This represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

Pinnacle Financial Partners Stock Down 0.9%

PNFP stock opened at $97.79 on Tuesday. Pinnacle Financial Partners, Inc. has a twelve month low of $81.08 and a twelve month high of $120.46. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $7.59 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.37 and a beta of 1.06.

Pinnacle Financial Partners (NYSE:PNFP) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.09. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%.The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. As a group, sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 10.38 EPS for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, May 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 27.74%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PNFP shares. UBS Group raised their target price on Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a research note on Monday, January 5th. TD Cowen lowered their target price on Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Truist Financial set a $100.00 target price on Pinnacle Financial Partners in a research note on Friday, January 9th. Finally, Wall Street Zen cut Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Pinnacle Financial Partners currently has a consensus rating of “Moderate Buy” and an average price target of $114.25.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.