Northwestern Mutual Wealth Management Co. Purchases 8,927 Shares of Pinnacle Financial Partners, Inc. $PNFP

Northwestern Mutual Wealth Management Co. increased its position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 122.9% in the 4th quarter, HoldingsChannel reports. The fund owned 16,188 shares of the company’s stock after acquiring an additional 8,927 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Pinnacle Financial Partners were worth $1,544,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PNFP. AQR Capital Management LLC raised its stake in shares of Pinnacle Financial Partners by 1,697.4% during the 3rd quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company’s stock worth $306,474,000 after acquiring an additional 3,085,867 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Pinnacle Financial Partners during the 3rd quarter worth approximately $187,822,000. Wellington Management Group LLP raised its stake in shares of Pinnacle Financial Partners by 51.1% during the 3rd quarter. Wellington Management Group LLP now owns 2,156,749 shares of the company’s stock worth $202,281,000 after acquiring an additional 728,975 shares in the last quarter. Pentwater Capital Management LP bought a new position in shares of Pinnacle Financial Partners during the 3rd quarter worth approximately $42,538,000. Finally, Bank of America Corp DE raised its stake in shares of Pinnacle Financial Partners by 66.8% during the 3rd quarter. Bank of America Corp DE now owns 828,944 shares of the company’s stock worth $77,747,000 after acquiring an additional 332,092 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PNFP shares. UBS Group boosted their price objective on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. upped their price target on shares of Pinnacle Financial Partners from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Wall Street Zen upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Piper Sandler upped their price target on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings began coverage on shares of Pinnacle Financial Partners in a research note on Monday, March 9th. They set a “hold (c+)” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.18.

Pinnacle Financial Partners Trading Down 0.5%

Shares of Pinnacle Financial Partners stock opened at $98.03 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. Pinnacle Financial Partners, Inc. has a 12-month low of $81.08 and a 12-month high of $120.46. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 0.37 and a beta of 1.06. The company’s 50 day moving average is $92.72.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.30 by $0.09. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. On average, sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 10.34 EPS for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, May 1st. Pinnacle Financial Partners’s dividend payout ratio is 27.74%.

Pinnacle Financial Partners 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.