129,585 Shares in Pinnacle Financial Partners, Inc. $PNFP Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. acquired a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 129,585 shares of the financial services provider’s stock, valued at approximately $12,154,000. Jefferies Financial Group Inc. owned 0.17% of Pinnacle Financial Partners at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Covestor Ltd increased its position in shares of Pinnacle Financial Partners by 193.9% in the third quarter. Covestor Ltd now owns 338 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 223 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in Pinnacle Financial Partners during the second quarter worth about $38,000. Quent Capital LLC bought a new position in Pinnacle Financial Partners in the 3rd quarter valued at about $34,000. MAI Capital Management raised its position in shares of Pinnacle Financial Partners by 79.4% in the 2nd 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, Eastern Bank bought a new stake in shares of Pinnacle Financial Partners during the 3rd quarter worth approximately $37,000. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Trading Down 2.0%

NASDAQ PNFP opened at $88.83 on Monday. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 11.29, 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 $120.46. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average is $96.60 and its 200 day moving average is $94.41.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 6th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s payout ratio is 24.72%.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the stock in a transaction dated Thursday, February 12th. The stock was bought at an average price of $94.52 per share, with a total value of $94,520.00. Following the completion of the purchase, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at $4,677,322.20. This represents a 2.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.46% of the company’s stock.

Wall Street Analysts Forecast Growth

PNFP has been the subject of several research analyst reports. Barclays boosted their price objective on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Bank of America began coverage on Pinnacle Financial Partners in a report on Monday, December 8th. They set a “buy” rating and a $113.00 price target for the company. UBS Group set a $106.00 price objective on Pinnacle Financial Partners in a research note on Wednesday, February 4th. Citigroup boosted their target price on Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Pinnacle Financial Partners from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Pinnacle Financial Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.41.

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.