Coyle Financial Counsel LLC Trims Stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Coyle Financial Counsel LLC reduced its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,529 shares of the financial services provider’s stock after selling 209 shares during the quarter. Coyle Financial Counsel LLC’s holdings in Pinnacle Financial Partners were worth $1,776,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PNFP. Azora Capital LP purchased a new position in Pinnacle Financial Partners during the 3rd quarter worth $64,326,000. FMR LLC increased its holdings in shares of Pinnacle Financial Partners by 11.6% in the 3rd quarter. FMR LLC now owns 2,716,416 shares of the financial services provider’s stock valued at $266,127,000 after acquiring an additional 282,016 shares during the period. Holocene Advisors LP purchased a new position in shares of Pinnacle Financial Partners in the 3rd quarter valued at $21,576,000. Principal Financial Group Inc. increased its holdings in shares of Pinnacle Financial Partners by 27.0% in the 3rd quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider’s stock valued at $96,332,000 after acquiring an additional 208,938 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Pinnacle Financial Partners by 212.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 291,723 shares of the financial services provider’s stock valued at $28,580,000 after acquiring an additional 198,246 shares during the period. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PNFP shares. Barclays upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $135.00 in a report on Thursday, December 19th. Hovde Group downgraded Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price target on the stock. in a report on Monday, November 18th. UBS Group assumed coverage on Pinnacle Financial Partners in a report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price target on the stock. Stephens restated an “overweight” rating and set a $142.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $135.00 target price (up from $115.00) on shares of Pinnacle Financial Partners in a research note on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $125.18.

Pinnacle Financial Partners Stock Performance

Shares of PNFP opened at $113.02 on Tuesday. The stock has a 50-day moving average of $118.49 and a two-hundred day moving average of $110.19. Pinnacle Financial Partners, Inc. has a one year low of $73.62 and a one year high of $131.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $8.73 billion, a P/E ratio of 18.90 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The company had revenue of $475.34 million during the quarter, compared to analysts’ expectations of $470.33 million. During the same quarter in the previous year, the firm posted $1.68 EPS. The firm’s revenue was up 19.9% compared to the same quarter last year. As a group, research analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 7th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a yield of 0.85%. This is a boost from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s payout ratio is currently 16.05%.

Insiders Place Their Bets

In other news, Director David B. Ingram sold 20,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $126.02, for a total value of $2,520,400.00. Following the completion of the transaction, the director now owns 92,565 shares of the company’s stock, valued at $11,665,041.30. The trade was a 17.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Harold R. Carpenter sold 3,051 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $125.57, for a total value of $383,114.07. Following the completion of the transaction, the chief financial officer now directly owns 60,805 shares of the company’s stock, valued at approximately $7,635,283.85. This trade represents a 4.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,970 shares of company stock valued at $15,922,061. 1.87% of the stock is owned by company insiders.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.