Quadrant Capital Group LLC Buys 126 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Quadrant Capital Group LLC raised its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,352 shares of the financial services provider’s stock after purchasing an additional 126 shares during the period. Quadrant Capital Group LLC’s holdings in Pinnacle Financial Partners were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of PNFP. Quantinno Capital Management LP boosted its holdings in shares of Pinnacle Financial Partners by 41.5% in the third quarter. Quantinno Capital Management LP now owns 17,842 shares of the financial services provider’s stock worth $1,748,000 after acquiring an additional 5,236 shares during the period. Barclays PLC lifted its holdings in Pinnacle Financial Partners by 117.0% during the 3rd quarter. Barclays PLC now owns 167,838 shares of the financial services provider’s stock worth $16,442,000 after purchasing an additional 90,478 shares in the last quarter. Geode Capital Management LLC boosted its stake in Pinnacle Financial Partners by 0.7% in the 3rd 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 period. Sanctuary Advisors LLC grew its holdings in Pinnacle Financial Partners by 585.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 27,465 shares of the financial services provider’s stock valued at $2,691,000 after buying an additional 23,456 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Pinnacle Financial Partners during the third quarter valued at about $229,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Trading Up 0.3 %

Shares of PNFP stock opened at $87.46 on Tuesday. 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 stock has a fifty day simple moving average of $111.66 and a two-hundred day simple moving average of $112.42. The firm has a market capitalization of $6.77 billion, a PE ratio of 14.63 and a beta of 0.94. 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 released its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.80 by $0.10. The firm 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%. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 earnings per share. On average, analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 7th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.96 annualized dividend and a yield of 1.10%. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 16.05%.

Insiders Place Their Bets

In related news, CEO M Terry Turner sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total value 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. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glenda Baskin Glover sold 3,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $101.55, for a total transaction of $304,650.00. Following the completion of the sale, the director now owns 9,943 shares of the company’s stock, valued at $1,009,711.65. This trade represents a 23.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,350 shares of company stock valued at $11,421,320 in the last three months. Corporate insiders own 1.46% of the company’s stock.

Wall Street Analysts Forecast Growth

PNFP has been the subject of several research analyst reports. Hovde Group dropped their price objective on Pinnacle Financial Partners from $135.00 to $120.00 and set a “market perform” rating for the company in a research note on Wednesday, April 2nd. UBS Group began coverage on Pinnacle Financial Partners in a research report on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Citigroup raised their target price on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. Finally, Barclays raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $120.00 to $135.00 in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $123.82.

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.