Loomis Sayles & Co. L P Decreases Stock Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Loomis Sayles & Co. L P lowered its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 180,122 shares of the financial services provider’s stock after selling 2,665 shares during the period. Loomis Sayles & Co. L P owned about 0.23% of Pinnacle Financial Partners worth $20,604,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Azora Capital LP bought a new position in shares of Pinnacle Financial Partners during the third quarter valued at approximately $64,326,000. Raymond James Financial Inc. bought a new position in Pinnacle Financial Partners in the 4th quarter worth $44,737,000. FMR LLC raised its holdings in Pinnacle Financial Partners by 11.6% in the 3rd quarter. FMR LLC now owns 2,716,416 shares of the financial services provider’s stock worth $266,127,000 after purchasing an additional 282,016 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Pinnacle Financial Partners in the 3rd quarter worth about $21,576,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Pinnacle Financial Partners by 27.0% during the 3rd quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider’s stock valued at $96,332,000 after purchasing an additional 208,938 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

Insider Buying and Selling at Pinnacle Financial Partners

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 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 approximately $25,615,567.76. The trade was a 0.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David B. Ingram sold 40,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was 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 in the company, valued at approximately $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. In the last 90 days, insiders have sold 95,350 shares of company stock worth $11,421,320. Company insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Trading Down 2.2 %

Shares of NASDAQ PNFP opened at $105.06 on Friday. The company has a market cap of $8.13 billion, a PE ratio of 17.57 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50 day moving average price is $114.63 and its 200-day moving average price is $112.07. Pinnacle Financial Partners, Inc. has a 52-week low of $73.62 and a 52-week high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 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 for the quarter, compared to the consensus estimate of $470.33 million. During the same period last year, the business posted $1.68 EPS. The company’s revenue was up 19.9% compared to the same quarter last year. On average, equities research 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 announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 7th were given a $0.24 dividend. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Pinnacle Financial Partners’s payout ratio is 16.05%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays raised Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $120.00 to $135.00 in a research report on Thursday, December 19th. Wells Fargo & Company lifted their price target on Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. UBS Group initiated coverage on Pinnacle Financial Partners in a report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price objective for the company. Stephens reaffirmed an “overweight” rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.