Woodmont Investment Counsel LLC Increases Stock Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Woodmont Investment Counsel LLC increased its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 14.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,922 shares of the financial services provider’s stock after purchasing an additional 7,651 shares during the quarter. Woodmont Investment Counsel LLC owned approximately 0.08% of Pinnacle Financial Partners worth $6,969,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. KBC Group NV boosted its stake in shares of Pinnacle Financial Partners by 1,054.3% in the 4th quarter. KBC Group NV now owns 26,722 shares of the financial services provider’s stock worth $3,057,000 after buying an additional 24,407 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in Pinnacle Financial Partners by 2.6% during the fourth quarter. Artemis Investment Management LLP now owns 482,672 shares of the financial services provider’s stock worth $55,213,000 after acquiring an additional 12,455 shares during the period. Geode Capital Management LLC boosted its position in Pinnacle Financial Partners by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,328,564 shares of the financial services provider’s stock worth $130,192,000 after purchasing an additional 8,604 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Pinnacle Financial Partners by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 920,088 shares of the financial services provider’s stock valued at $90,141,000 after purchasing an additional 9,856 shares during the period. Finally, Beacon Capital Management LLC increased its position in shares of Pinnacle Financial Partners by 101,563.6% during the 4th quarter. Beacon Capital Management LLC now owns 22,366 shares of the financial services provider’s stock valued at $2,558,000 after purchasing an additional 22,344 shares during the last quarter. 87.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Pinnacle Financial Partners news, CEO M Terry Turner sold 2,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total transaction of $201,260.00. Following the completion of the sale, the chief executive officer now directly owns 254,552 shares in the company, valued at $25,615,567.76. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David B. Ingram sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was 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 of the company’s stock, valued at approximately $5,185,361.50. This represents a 49.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,350 shares of company stock worth $11,421,320 over the last ninety days. 1.46% of the stock is owned by corporate insiders.

Pinnacle Financial Partners Trading Up 0.4 %

Shares of Pinnacle Financial Partners stock opened at $105.99 on Monday. The company’s 50-day moving average price is $115.58 and its 200-day moving average price is $111.83. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. Pinnacle Financial Partners, Inc. has a 12-month low of $73.62 and a 12-month high of $131.91. 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 (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 analysts’ expectations of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.68 EPS. On average, equities analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $135.00 price target (up previously from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th. Stephens restated an “overweight” rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Wells Fargo & Company lifted their price target on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, UBS Group began coverage on Pinnacle Financial Partners in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $125.18.

About Pinnacle Financial Partners

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.