United Capital Financial Advisors LLC Invests $755,000 in Pinnacle Financial Partners, Inc. $PNFP

United Capital Financial Advisors LLC acquired a new position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,480 shares of the company’s stock, valued at approximately $755,000.

Several other large investors also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in Pinnacle Financial Partners by 1.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company’s stock worth $704,000 after acquiring an additional 116 shares during the last quarter. Villanova Investment Management Co LLC boosted its position in shares of Pinnacle Financial Partners by 0.4% during the 4th quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock valued at $2,720,000 after acquiring an additional 118 shares during the last quarter. Simplicity Wealth LLC boosted its position 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 valued at $789,000 after acquiring an additional 131 shares during the last quarter. Graham Capital Management L.P. grew its holdings in shares of Pinnacle Financial Partners by 0.7% during the fourth quarter. Graham Capital Management L.P. now owns 22,169 shares of the company’s stock worth $2,115,000 after purchasing an additional 146 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Pinnacle Financial Partners by 3.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,097 shares of the company’s stock worth $486,000 after purchasing an additional 158 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PNFP. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Piper Sandler boosted their price target on shares of Pinnacle Financial Partners from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Robert W. Baird initiated coverage on shares of Pinnacle Financial Partners in a report on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 price target on the stock. Benchmark raised their price objective on shares of Pinnacle Financial Partners from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.35.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, insider M Terry Turner sold 66,783 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $108.01, for a total transaction of $7,213,231.83. Following the completion of the sale, the insider directly owned 302,230 shares in the company, valued at $32,643,862.30. This represents a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert A. Mccabe, Jr. purchased 10,013 shares of the business’s stock in a transaction on Friday, July 24th. The shares were acquired at an average price of $99.90 per share, with a total value of $1,000,298.70. Following the completion of the transaction, the insider owned 324,233 shares of the company’s stock, valued at approximately $32,390,876.70. This trade represents a 3.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 177,228 shares of company stock worth $19,153,713. 1.30% of the stock is owned by insiders.

Pinnacle Financial Partners Price Performance

NYSE:PNFP opened at $101.08 on Monday. The company has a market cap of $7.84 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 0.40 and a beta of 1.03. The stock has a 50 day moving average price of $102.11. 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, Inc. has a 1-year low of $81.08 and a 1-year high of $110.33.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. As a group, sell-side analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.19 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 7th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.0%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 27.47%.

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.