Crossmark Global Holdings Inc. Grows Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Crossmark Global Holdings Inc. boosted its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 38.4% in the third quarter, HoldingsChannel reports. The fund owned 5,874 shares of the financial services provider’s stock after acquiring an additional 1,631 shares during the period. Crossmark Global Holdings Inc.’s holdings in Pinnacle Financial Partners were worth $576,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in shares of Pinnacle Financial Partners during the second quarter valued at approximately $29,000. Versant Capital Management Inc raised its stake in Pinnacle Financial Partners by 44.5% during the second quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider’s stock valued at $35,000 after buying an additional 133 shares during the last quarter. UMB Bank n.a. raised its stake in Pinnacle Financial Partners by 83.4% during the third quarter. UMB Bank n.a. now owns 497 shares of the financial services provider’s stock valued at $49,000 after buying an additional 226 shares during the last quarter. Values First Advisors Inc. bought a new stake in Pinnacle Financial Partners in the third quarter worth $49,000. Finally, Quarry LP grew its stake in shares of Pinnacle Financial Partners by 3,500.0% in the second quarter. Quarry LP now owns 756 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 735 shares during the last quarter. Institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Trading Up 0.5 %

NASDAQ:PNFP opened at $123.99 on Friday. The company has a 50 day simple moving average of $102.23 and a two-hundred day simple moving average of $91.05. The company has a market cap of $9.58 billion, a PE ratio of 23.57 and a beta of 1.04. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42. Pinnacle Financial Partners, Inc. has a 12 month low of $70.03 and a 12 month high of $129.38.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.86 EPS for the quarter, topping the consensus estimate of $1.79 by $0.07. Pinnacle Financial Partners had a return on equity of 8.89% and a net margin of 13.97%. The company had revenue of $810.11 million during the quarter, compared to analyst estimates of $454.18 million. During the same quarter in the previous year, the company posted $1.79 earnings per share. Research analysts forecast that Pinnacle Financial Partners, Inc. will post 6.8 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 1st will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, November 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 16.73%.

Wall Street Analysts Forecast Growth

PNFP has been the subject of several recent analyst reports. Stephens lifted their price target on Pinnacle Financial Partners from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Barclays upped their target price on shares of Pinnacle Financial Partners from $101.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Citigroup raised their price target on shares of Pinnacle Financial Partners from $113.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Truist Financial boosted their price objective on shares of Pinnacle Financial Partners from $113.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Hovde Group increased their target price on Pinnacle Financial Partners from $110.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.60.

Pinnacle Financial Partners Company 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.