Rayburn West Financial Services LLC Buys Shares of 8,949 Pinnacle Financial Partners, Inc. $PNFP

Rayburn West Financial Services LLC bought a new stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the 4th quarter, Holdings Channel reports. The firm bought 8,949 shares of the company’s stock, valued at approximately $854,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Atria Investments Inc lifted its holdings in shares of Pinnacle Financial Partners by 6.7% in the 4th quarter. Atria Investments Inc now owns 63,047 shares of the company’s stock valued at $6,015,000 after buying an additional 3,968 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Pinnacle Financial Partners by 92.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 29,759 shares of the company’s stock valued at $2,839,000 after buying an additional 14,300 shares during the period. Legacy Financial Advisors Inc. lifted its holdings in shares of Pinnacle Financial Partners by 14.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 4,283 shares of the company’s stock valued at $409,000 after buying an additional 537 shares during the period. Ground Swell Capital LLC acquired a new stake in shares of Pinnacle Financial Partners in the 4th quarter valued at approximately $1,340,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Pinnacle Financial Partners by 240.3% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 12,250 shares of the company’s stock valued at $1,169,000 after buying an additional 8,650 shares during the period. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Stock Performance

Shares of PNFP stock opened at $94.21 on Thursday. The business’s fifty day moving average price is $90.97. The firm has a market capitalization of $7.31 billion, a PE ratio of 13.07, a PEG ratio of 0.37 and a beta of 1.06. Pinnacle Financial Partners, Inc. has a 1 year low of $81.08 and a 1 year high of $120.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.09. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. As a group, equities research analysts predict that Pinnacle Financial Partners, Inc. will post 10.34 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $2.00 annualized dividend and a yield of 2.1%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 27.74%.

Analyst Ratings Changes

Several analysts have recently commented on PNFP shares. UBS Group raised their price target on Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, April 24th. JPMorgan Chase & Co. raised their price target on Pinnacle Financial Partners from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Stephens raised their price target on Pinnacle Financial Partners from $95.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Wall Street Zen raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Weiss Ratings started coverage on Pinnacle Financial Partners in a report on Monday, March 9th. They issued a “hold (c+)” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Pinnacle Financial Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.19.

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.