Diversified Trust Co Sells 18,499 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Diversified Trust Co decreased its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 25.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,825 shares of the financial services provider’s stock after selling 18,499 shares during the period. Diversified Trust Co’s holdings in Pinnacle Financial Partners were worth $6,271,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Oliver Luxxe Assets LLC lifted its position in Pinnacle Financial Partners by 19.7% during the fourth quarter. Oliver Luxxe Assets LLC now owns 46,667 shares of the financial services provider’s stock valued at $5,338,000 after purchasing an additional 7,691 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Pinnacle Financial Partners by 27.0% in the third quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider’s stock worth $96,332,000 after buying an additional 208,938 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Pinnacle Financial Partners during the third quarter worth approximately $229,000. Sanctuary Advisors LLC raised its position in Pinnacle Financial Partners by 585.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 27,465 shares of the financial services provider’s stock worth $2,691,000 after purchasing an additional 23,456 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Pinnacle Financial Partners by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,328,564 shares of the financial services provider’s stock valued at $130,192,000 after acquiring an additional 8,604 shares during the last quarter. Institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Performance

PNFP stock traded down $0.57 on Tuesday, hitting $114.81. The company had a trading volume of 67,665 shares, compared to its average volume of 332,028. 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 $73.62 and a 12-month high of $131.91. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 21.83 and a beta of 1.09. The stock’s 50-day simple moving average is $118.61 and its 200 day simple moving average is $101.75.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share (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 business had revenue of $810.11 million for the quarter, compared to analysts’ expectations of $454.18 million. During the same period last year, the firm posted $1.79 earnings per share. As a group, equities research analysts expect that Pinnacle Financial Partners, Inc. will post 6.8 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 1st were issued a dividend of $0.22 per share. The ex-dividend date was Friday, November 1st. This represents a $0.88 dividend on an annualized basis and a yield of 0.77%. Pinnacle Financial Partners’s dividend payout ratio is currently 16.73%.

Insiders Place Their Bets

In other news, CFO Harold R. Carpenter sold 3,051 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $125.57, for a total value of $383,114.07. Following the transaction, the chief financial officer now owns 60,805 shares of the company’s stock, valued at $7,635,283.85. This trade represents a 4.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $124.09, for a total transaction of $6,204,500.00. Following the completion of the sale, the chairman now directly owns 123,000 shares of the company’s stock, valued at approximately $15,263,070. This trade represents a 28.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,661 shares of company stock worth $9,563,127. Company insiders own 1.87% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PNFP. Wells Fargo & Company raised their target price on shares of Pinnacle Financial Partners from $104.00 to $120.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Hovde Group lowered shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price objective for the company. in a report on Monday, November 18th. Citigroup lifted their price target on Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. Barclays upgraded shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $120.00 to $135.00 in a report on Thursday, December 19th. Finally, UBS Group began coverage on Pinnacle Financial Partners in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price target for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Pinnacle Financial Partners presently has a consensus rating of “Hold” and a consensus price target of $119.73.

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.