Douglass Winthrop Advisors LLC Acquires Shares of 2,000 Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Douglass Winthrop Advisors LLC bought a new position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,000 shares of the financial services provider’s stock, valued at approximately $229,000.

Several other institutional investors have also recently made changes to their positions in the company. Azora Capital LP purchased a new stake in Pinnacle Financial Partners in the third quarter worth $64,326,000. Raymond James Financial Inc. bought a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at approximately $44,737,000. FMR LLC increased its position in Pinnacle Financial Partners by 11.6% during the 3rd quarter. FMR LLC now owns 2,716,416 shares of the financial services provider’s stock valued at $266,127,000 after buying an additional 282,016 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Pinnacle Financial Partners in the 3rd quarter worth about $21,576,000. Finally, Principal Financial Group Inc. lifted its stake in shares of 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. Institutional investors own 87.40% of the company’s stock.

Insider Activity

In other Pinnacle Financial Partners news, CEO M Terry Turner sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total value of $201,260.00. Following the sale, the chief executive officer now owns 254,552 shares in the company, valued at $25,615,567.76. The trade was a 0.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Ingram sold 10,309 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.00, for a total value of $1,298,934.00. Following the transaction, the director now owns 82,256 shares of the company’s stock, valued at $10,364,256. This represents a 11.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,350 shares of company stock worth $11,421,320 over the last ninety days. Corporate insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Trading Up 0.4 %

Shares of PNFP stock opened at $105.99 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 17.72 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a 1 year low of $73.62 and a 1 year high of $131.91. The firm has a fifty day moving average price of $115.58 and a 200-day moving average price of $111.64.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $475.34 million during the quarter, compared to analyst estimates of $470.33 million. During the same quarter in the previous year, the company posted $1.68 earnings per share. Pinnacle Financial Partners’s revenue for the quarter was up 19.9% on a year-over-year basis. As a group, equities analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were paid a dividend of $0.24 per share. This is a boost from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. Pinnacle Financial Partners’s payout ratio is 16.05%.

Wall Street Analyst Weigh In

PNFP has been the subject of a number of recent analyst reports. Stephens restated an “overweight” rating and issued a $142.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. UBS Group assumed coverage on Pinnacle Financial Partners in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price target for the company. Citigroup increased their price objective 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. JPMorgan Chase & Co. decreased their target price on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $135.00 in a report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Pinnacle Financial Partners presently has an average rating of “Hold” and an average price target of $125.18.

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.