NBZ Investment Advisors LLC Invests $668,000 in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

NBZ Investment Advisors LLC purchased a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,842 shares of the financial services provider’s stock, valued at approximately $668,000. Pinnacle Financial Partners accounts for 0.4% of NBZ Investment Advisors LLC’s portfolio, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in shares of Pinnacle Financial Partners by 24.5% in the third quarter. Cerity Partners LLC now owns 36,261 shares of the financial services provider’s stock worth $3,552,000 after acquiring an additional 7,130 shares during the last quarter. FMR LLC raised its position in Pinnacle Financial Partners by 11.6% during the third quarter. FMR LLC now owns 2,716,416 shares of the financial services provider’s stock valued at $266,127,000 after acquiring an additional 282,016 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Pinnacle Financial Partners in the third quarter valued at approximately $70,000. BNP Paribas Financial Markets lifted its stake in shares of Pinnacle Financial Partners by 689.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,932 shares of the financial services provider’s stock valued at $2,149,000 after purchasing an additional 19,153 shares during the last quarter. Finally, Townsquare Capital LLC boosted its holdings in Pinnacle Financial Partners by 6.6% in the third quarter. Townsquare Capital LLC now owns 9,350 shares of the financial services provider’s stock worth $916,000 after purchasing an additional 581 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PNFP shares. Wells Fargo & Company boosted their target price on Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Stephens reaffirmed an “overweight” rating and set a $142.00 target price on shares of Pinnacle Financial Partners in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $135.00 price target (up previously from $115.00) on shares of Pinnacle Financial Partners in a report on Wednesday, December 4th. Barclays raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $135.00 in a report on Thursday, December 19th. Finally, 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 on the stock. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Pinnacle Financial Partners has an average rating of “Hold” and a consensus target price of $125.18.

Pinnacle Financial Partners Stock Down 1.2 %

Shares of Pinnacle Financial Partners stock opened at $107.39 on Friday. Pinnacle Financial Partners, Inc. has a 12 month low of $73.62 and a 12 month high of $131.91. The business has a fifty day simple moving average of $114.92 and a 200 day simple moving average of $111.99. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. The stock has a market cap of $8.31 billion, a PE ratio of 17.96 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share 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 the consensus estimate of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. Pinnacle Financial Partners’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period last year, the company posted $1.68 EPS. Research analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Increases Dividend

The firm also recently disclosed 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 represents a $0.96 annualized dividend and a yield of 0.89%. The ex-dividend date was Friday, February 7th. This is an increase from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 16.05%.

Insiders Place Their Bets

In other 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 of the company’s stock, 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 can be accessed through the SEC website. Also, Director David B. Ingram sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $126.50, for a total value of $5,060,000.00. Following the completion of the transaction, the director now owns 40,991 shares of the company’s stock, valued at approximately $5,185,361.50. This represents a 49.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,350 shares of company stock worth $11,421,320. Corporate insiders own 1.46% of the company’s stock.

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.