Vise Technologies Inc. Invests $1.05 Million in Pinnacle Financial Partners, Inc. $PNFP

Vise Technologies Inc. bought a new position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,407 shares of the company’s stock, valued at approximately $1,050,000.

Several other institutional investors have also modified their holdings of PNFP. Brown Brothers Harriman & Co. acquired a new stake in Pinnacle Financial Partners during the 3rd quarter valued at approximately $26,000. High Point Wealth Management LLC acquired a new position in shares of Pinnacle Financial Partners in the 4th quarter valued at approximately $27,000. BOKF NA boosted its stake in shares of Pinnacle Financial Partners by 1,204.5% during the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after buying an additional 265 shares during the last quarter. Activest Wealth Management purchased a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at approximately $28,000. Finally, Resources Management Corp CT ADV purchased a new position in shares of Pinnacle Financial Partners during the 1st quarter valued at approximately $26,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Price Performance

Shares of PNFP opened at $102.37 on Friday. The stock’s fifty day moving average price is $101.63. Pinnacle Financial Partners, Inc. has a 12-month low of $81.08 and a 12-month high of $110.33. The company has a market capitalization of $7.94 billion, a PE ratio of 14.06, a PEG ratio of 0.41 and a beta of 1.03. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.93.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.04. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. As a group, research analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.19 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 7th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 7th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 27.47%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 12th. Robert W. Baird began coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price objective on the stock. Weiss Ratings raised shares of Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Finally, Benchmark boosted their target price on shares of Pinnacle Financial Partners from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $118.35.

Insider Activity

In other Pinnacle Financial Partners news, insider Robert A. Mccabe, Jr. acquired 10,013 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were purchased at an average price of $99.90 per share, for a total transaction of $1,000,298.70. Following the completion of the purchase, the insider directly owned 324,233 shares in the company, valued at $32,390,876.70. The trade was a 3.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider M Terry Turner sold 66,783 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $108.01, for a total transaction of $7,213,231.83. Following the completion of the transaction, the insider directly owned 302,230 shares in the company, valued at $32,643,862.30. This represents a 18.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 177,228 shares of company stock valued at $19,153,713 over the last ninety days. Company insiders own 1.30% of the company’s stock.

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.