Asset Planning Inc Makes New $212,000 Investment in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Asset Planning Inc purchased a new position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,850 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other institutional investors have also bought and sold shares of the business. Vicus Capital purchased a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at about $204,000. Values First Advisors Inc. grew its position in shares of Pinnacle Financial Partners by 189.9% during the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 955 shares in the last quarter. Savant Capital LLC purchased a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at about $244,000. Stephens Inc. AR purchased a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at about $209,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at about $218,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Trading Up 0.5 %

PNFP stock opened at $119.85 on Friday. The company’s 50-day simple moving average is $118.92 and its 200-day simple moving average is $108.46. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. Pinnacle Financial Partners, Inc. has a 52-week low of $73.62 and a 52-week high of $131.91. The firm has a market cap of $9.26 billion, a P/E ratio of 20.04 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.10. The business had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.68 EPS. As a group, equities analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 7th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 0.80%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 14.72%.

Analyst Ratings Changes

PNFP has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. UBS Group initiated coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price objective for the company. Stephens reissued an “overweight” rating and set a $142.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Hovde Group downgraded Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 target price on the stock. in a research report on Monday, November 18th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $135.00 price target (up from $115.00) on shares of Pinnacle Financial Partners in a report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $125.18.

Insider Activity at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $124.09, for a total value of $6,204,500.00. Following the completion of the sale, the chairman now owns 123,000 shares in the company, valued at approximately $15,263,070. This represents a 28.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Ingram sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $126.02, for a total transaction of $2,520,400.00. Following the sale, the director now owns 92,565 shares of the company’s stock, valued at $11,665,041.30. This represents a 17.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,970 shares of company stock valued at $15,922,061. 1.87% of the stock is owned by corporate insiders.

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.