First Bank & Trust Sells 358 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

First Bank & Trust decreased its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 8.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,869 shares of the financial services provider’s stock after selling 358 shares during the period. First Bank & Trust’s holdings in Pinnacle Financial Partners were worth $443,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at $30,000. Values First Advisors Inc. bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at $49,000. Brooklyn Investment Group bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at $70,000. UMB Bank n.a. increased its position in shares of Pinnacle Financial Partners by 48.1% in the 4th quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock valued at $84,000 after buying an additional 239 shares in the last quarter. Finally, Principal Securities Inc. increased its position in shares of Pinnacle Financial Partners by 12.7% in the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock valued at $92,000 after buying an additional 91 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $135.00 price objective (up from $115.00) on shares of Pinnacle Financial Partners in a research note on Wednesday, December 4th. Citigroup increased their price objective on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. Barclays upgraded shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $120.00 to $135.00 in a research note on Thursday, December 19th. Finally, Wells Fargo & Company increased their price objective on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $125.18.

Pinnacle Financial Partners Stock Down 2.2 %

Pinnacle Financial Partners stock opened at $118.28 on Friday. The stock has a market cap of $9.14 billion, a P/E ratio of 19.78 and a beta of 1.09. 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 twelve month low of $73.62 and a twelve month high of $131.91. The company’s 50-day moving average price is $118.68 and its two-hundred day moving average price is $109.45.

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

Pinnacle Financial Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, February 7th. This is a boost from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 0.81%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 16.05%.

Insider Activity at Pinnacle Financial Partners

In related news, CFO Harold R. Carpenter sold 3,051 shares of Pinnacle Financial Partners stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $125.57, for a total value of $383,114.07. Following the transaction, the chief financial officer now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David B. Ingram sold 40,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $126.50, for a total transaction of $5,060,000.00. Following the completion of the transaction, the director now directly owns 40,991 shares in the company, valued at $5,185,361.50. This trade represents a 49.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,970 shares of company stock valued at $15,922,061 over the last three months. 1.87% of the stock is owned by 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.