23,618 Shares in Pinnacle Financial Partners, Inc. $PNFP Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 23,618 shares of the financial services provider’s stock, valued at approximately $2,215,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd increased its stake in Pinnacle Financial Partners by 193.9% during the third quarter. Covestor Ltd now owns 338 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 223 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Pinnacle Financial Partners during the 2nd quarter worth about $38,000. Quent Capital LLC bought a new position in Pinnacle Financial Partners during the 3rd quarter valued at about $34,000. MAI Capital Management boosted its position in Pinnacle Financial Partners by 79.4% in the second quarter. MAI Capital Management now owns 366 shares of the financial services provider’s stock valued at $40,000 after buying an additional 162 shares in the last quarter. Finally, Spurstone Advisory Services LLC bought a new stake in Pinnacle Financial Partners during the second quarter worth about $41,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total transaction of $630,075.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available through this link. 1.46% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PNFP has been the topic of several research analyst reports. Evercore ISI began coverage on Pinnacle Financial Partners in a report on Tuesday, January 6th. They set an “outperform” rating and a $115.00 target price on the stock. DA Davidson began coverage on shares of Pinnacle Financial Partners in a report on Monday, January 5th. They set a “neutral” rating and a $110.00 price objective on the stock. Royal Bank Of Canada raised shares of Pinnacle Financial Partners to a “moderate buy” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Pinnacle Financial Partners in a research note on Monday, December 29th. Finally, Piper Sandler boosted their price objective on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.41.

Pinnacle Financial Partners Trading Down 1.6%

PNFP opened at $93.82 on Thursday. The firm’s fifty day moving average is $96.78 and its two-hundred day moving average is $94.79. The firm has a market cap of $7.28 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 0.48 and a beta of 1.02. Pinnacle Financial Partners, Inc. has a twelve month low of $81.57 and a twelve month high of $127.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 6th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 11.87%.

Pinnacle Financial Partners Company Profile

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.