Xponance Inc. Boosts Stock Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Xponance Inc. increased its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,678 shares of the financial services provider’s stock after acquiring an additional 450 shares during the period. Xponance Inc.’s holdings in Pinnacle Financial Partners were worth $993,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PNFP. Brooklyn Investment Group purchased a new position in shares of Pinnacle Financial Partners in the third quarter worth $70,000. UMB Bank n.a. raised its position in 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 worth $84,000 after buying an additional 239 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of Pinnacle Financial Partners by 12.7% during the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 91 shares during the last quarter. Trust Co. of Vermont bought a new stake in shares of Pinnacle Financial Partners in the fourth quarter worth approximately $97,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of Pinnacle Financial Partners during the third quarter valued at approximately $137,000. 87.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Pinnacle Financial Partners

In related news, Director Glenda Baskin Glover sold 3,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $101.55, for a total value of $304,650.00. Following the sale, the director now directly owns 9,943 shares in the company, valued at approximately $1,009,711.65. The trade was a 23.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO M Terry Turner sold 2,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 254,552 shares of the company’s stock, valued at $25,615,567.76. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,350 shares of company stock valued at $11,421,320 in the last three months. 1.46% of the stock is currently owned by corporate insiders.

Pinnacle Financial Partners Stock Up 0.4 %

Shares of PNFP stock opened at $105.99 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. Pinnacle Financial Partners, Inc. has a one year low of $73.62 and a one year high of $131.91. The company’s fifty day moving average price is $115.58 and its 200-day moving average price is $111.83. The company has a market capitalization 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 quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 9.04% and a net margin of 15.48%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period last year, the firm earned $1.68 earnings per share. Sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

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

Analyst Ratings Changes

A number of research firms have commented on PNFP. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $135.00 target price (up previously from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th. Citigroup upped 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. lowered their target price on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company boosted their price target on Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Finally, Stephens reiterated an “overweight” rating and issued a $142.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Pinnacle Financial Partners presently has a consensus rating of “Hold” and a consensus 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.