Pinnacle Financial Partners, Inc. Declares Dividend of $0.50 (NASDAQ:PNFP)

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) announced a dividend on Monday, January 26th. Shareholders of record on Friday, February 6th will be paid a dividend of 0.50 per share by the financial services provider on Friday, February 27th. The ex-dividend date is Friday, February 6th.

Pinnacle Financial Partners has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Pinnacle Financial Partners has a payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pinnacle Financial Partners to earn $8.99 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 10.7%.

Pinnacle Financial Partners Trading Up 0.1%

PNFP traded up $0.07 during trading on Tuesday, reaching $95.97. 45,285 shares of the stock traded hands, compared to its average volume of 1,901,894. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. Pinnacle Financial Partners has a 12 month low of $81.57 and a 12 month high of $127.85. The stock has a market capitalization of $7.44 billion, a PE ratio of 12.23, a P/E/G ratio of 0.48 and a beta of 1.02. The stock’s 50-day moving average is $96.48 and its 200 day moving average is $94.96.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of Pinnacle Financial Partners stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total transaction of $630,075.00. Following the transaction, the chairman directly owned 202,505 shares of the company’s stock, valued at $18,832,965. The trade was a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PNFP. AQR Capital Management LLC increased its position in Pinnacle Financial Partners by 1,697.4% during the 3rd quarter. AQR Capital Management LLC now owns 3,267,666 shares of the financial services provider’s stock worth $306,474,000 after purchasing an additional 3,085,867 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Pinnacle Financial Partners by 6.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,680,171 shares of the financial services provider’s stock valued at $251,376,000 after acquiring an additional 163,269 shares during the period. Wellington Management Group LLP boosted its position in shares of Pinnacle Financial Partners by 51.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,156,749 shares of the financial services provider’s stock valued at $202,281,000 after purchasing an additional 728,975 shares during the period. Nomura Holdings Inc. purchased a new position in Pinnacle Financial Partners in the third quarter valued at about $187,822,000. Finally, Fenimore Asset Management Inc lifted its stake in shares of Pinnacle Financial Partners by 2.2% in the second quarter. Fenimore Asset Management Inc now owns 1,076,968 shares of the financial services provider’s stock valued at $118,908,000 after buying an additional 23,552 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.