Pinnacle Financial Partners (NYSE:PNFP) Insider Sells $295,623.37 in Stock

Pinnacle Financial Partners, Inc. (NYSE:PNFP) insider M Terry Turner sold 2,737 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $108.01, for a total transaction of $295,623.37. Following the transaction, the insider directly owned 422,614 shares in the company, valued at approximately $45,646,538.14. This trade represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $106.66 on Thursday. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 0.42 and a beta of 1.03. Pinnacle Financial Partners, Inc. has a one year low of $81.08 and a one year high of $110.33. The business’s 50 day moving average is $100.32. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.73.

Pinnacle Financial Partners (NYSE:PNFP) last announced its earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%.The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. On average, analysts forecast that Pinnacle Financial Partners, Inc. will post 10.19 earnings per share for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 7th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 1.9%. Pinnacle Financial Partners’s dividend payout ratio is 27.47%.

Analyst Ratings Changes

Several brokerages recently issued reports on PNFP. Wells Fargo & Company raised their price target on Pinnacle Financial Partners from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Monday. TD Cowen increased their target price on Pinnacle Financial Partners from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. cut their target price on Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, July 24th. Stephens set a $112.00 price target on shares of Pinnacle Financial Partners in a report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.35.

Institutional Investors Weigh In On Pinnacle Financial Partners

Several institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Pinnacle Financial Partners by 1.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company’s stock worth $704,000 after purchasing an additional 116 shares in the last quarter. Villanova Investment Management Co LLC grew its position in Pinnacle Financial Partners by 0.4% in the 4th quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock worth $2,720,000 after purchasing an additional 118 shares during the last quarter. Simplicity Wealth LLC grew its holdings in shares of Pinnacle Financial Partners by 1.5% during the 1st quarter. Simplicity Wealth LLC now owns 9,155 shares of the company’s stock worth $789,000 after purchasing an additional 131 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Pinnacle Financial Partners by 10.1% during the 4th quarter. Whittier Trust Co. now owns 1,521 shares of the company’s stock valued at $145,000 after acquiring an additional 140 shares in the last quarter. Finally, Graham Capital Management L.P. grew its stake in shares of Pinnacle Financial Partners by 0.7% in the 4th quarter. Graham Capital Management L.P. now owns 22,169 shares of the company’s stock valued at $2,115,000 after purchasing an additional 146 shares during the period. 87.40% of the stock is currently owned by institutional investors and hedge funds.

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.