Northwestern Mutual Investment Management Company LLC Buys 16,285 Shares of Pinnacle Financial Partners, Inc. $PNFP

Northwestern Mutual Investment Management Company LLC lifted its stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 95.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,426 shares of the company’s stock after acquiring an additional 16,285 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Pinnacle Financial Partners were worth $3,189,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PNFP. Goldman Sachs Group Inc. raised its stake in shares of Pinnacle Financial Partners by 6.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock valued at $69,060,000 after acquiring an additional 37,989 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Pinnacle Financial Partners by 13.9% in the 1st quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock valued at $504,000 after acquiring an additional 581 shares in the last quarter. Amundi raised its stake in shares of Pinnacle Financial Partners by 25,700.0% in the 2nd quarter. Amundi now owns 4,386 shares of the company’s stock valued at $513,000 after acquiring an additional 4,369 shares in the last quarter. Jump Financial LLC bought a new position in shares of Pinnacle Financial Partners in the 2nd quarter valued at approximately $229,000. Finally, Cerity Partners LLC raised its stake in shares of Pinnacle Financial Partners by 4.2% in the 2nd quarter. Cerity Partners LLC now owns 26,061 shares of the company’s stock valued at $2,877,000 after acquiring an additional 1,039 shares in the last quarter. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Trading Down 1.5%

Shares of NYSE:PNFP opened at $94.00 on Friday. Pinnacle Financial Partners, Inc. has a 1-year low of $81.08 and a 1-year high of $120.46. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 0.36 and a beta of 1.06. The stock’s 50 day moving average price is $91.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.09. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. On average, sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 10.34 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on PNFP shares. JPMorgan Chase & Co. raised their target price on Pinnacle Financial Partners from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Wall Street Zen raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 12th. Stephens raised their target price 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. TD Cowen lowered their target price on Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.