Seneca House Advisors Invests $2.13 Million in Pinnacle Financial Partners, Inc. $PNFP

Seneca House Advisors bought a new stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,772 shares of the company’s stock, valued at approximately $2,134,000.

Other hedge funds also recently modified their holdings of the company. Brown Brothers Harriman & Co. bought a new position in shares of Pinnacle Financial Partners during the third quarter valued at about $26,000. High Point Wealth Management LLC purchased a new stake in Pinnacle Financial Partners in the 4th quarter valued at about $27,000. BOKF NA increased its stake in Pinnacle Financial Partners by 1,204.5% in the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after buying an additional 265 shares during the last quarter. Activest Wealth Management bought a new position in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $28,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Pinnacle Financial Partners by 175.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 339 shares of the company’s stock worth $32,000 after buying an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PNFP. Stephens upped their price objective on Pinnacle Financial Partners from $95.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Barclays cut their price target on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Evercore restated an “outperform” rating and set a $120.00 price target on shares of Pinnacle Financial Partners in a research report on Monday, July 6th. TD Cowen decreased their price objective on shares of Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating for the company in a report on Monday, April 27th. Finally, Truist Financial lifted their price objective on shares of Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Pinnacle Financial Partners presently has a consensus rating of “Moderate Buy” and an average price target of $116.89.

Pinnacle Financial Partners Trading Up 0.1%

Shares of NYSE PNFP traded up $0.08 during midday trading on Friday, hitting $100.45. The company’s stock had a trading volume of 591,479 shares, compared to its average volume of 1,264,027. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.40 and a beta of 1.04. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $97.33. Pinnacle Financial Partners, Inc. has a one year low of $81.08 and a one year high of $119.98.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.09. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. On average, equities research analysts predict that Pinnacle Financial Partners, Inc. will post 10.19 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, May 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 27.74%.

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.