Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Vice Chairman Ronald L. Samuel sold 3,000 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $67.28, for a total transaction of $201,840.00. Following the sale, the insider now directly owns 55,794 shares in the company, valued at $3,753,820.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Pinnacle Financial Partners, Inc. (NASDAQ PNFP) traded down $0.50 during trading hours on Friday, hitting $63.85. 343,800 shares of the company’s stock were exchanged, compared to its average volume of 477,000. The firm has a market capitalization of $4,920.00, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.51 and a beta of 1.32. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.57. Pinnacle Financial Partners, Inc. has a 52 week low of $53.80 and a 52 week high of $71.85.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, October 17th. The financial services provider reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Pinnacle Financial Partners had a net margin of 27.41% and a return on equity of 7.36%. The firm had revenue of $216.20 million for the quarter, compared to analysts’ expectations of $217.13 million. During the same quarter last year, the company earned $0.78 EPS. Pinnacle Financial Partners’s quarterly revenue was up 102.8% on a year-over-year basis. sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 3.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 3rd will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 2nd. Pinnacle Financial Partners’s payout ratio is 17.28%.
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A number of analysts recently commented on the stock. SunTrust Banks, Inc. reissued a “buy” rating and set a $74.00 price objective on shares of Pinnacle Financial Partners in a report on Friday, October 20th. Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Wednesday, August 23rd. Piper Jaffray Companies reissued an “overweight” rating and issued a $72.00 price objective on shares of Pinnacle Financial Partners in a research report on Thursday, October 5th. BidaskClub downgraded shares of Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Pinnacle Financial Partners currently has a consensus rating of “Hold” and a consensus target price of $73.25.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN boosted its holdings in shares of Pinnacle Financial Partners by 164.5% during the third quarter. Wells Fargo & Company MN now owns 813,985 shares of the financial services provider’s stock worth $54,496,000 after purchasing an additional 506,213 shares during the period. Citadel Advisors LLC raised its position in Pinnacle Financial Partners by 68.8% during the third quarter. Citadel Advisors LLC now owns 243,594 shares of the financial services provider’s stock valued at $16,309,000 after acquiring an additional 99,272 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Pinnacle Financial Partners by 52.9% in the third quarter. JPMorgan Chase & Co. now owns 255,356 shares of the financial services provider’s stock valued at $16,968,000 after purchasing an additional 88,303 shares during the period. Legal & General Group Plc raised its position in shares of Pinnacle Financial Partners by 14.3% in the third quarter. Legal & General Group Plc now owns 65,826 shares of the financial services provider’s stock valued at $4,407,000 after purchasing an additional 8,220 shares during the period. Finally, ETRADE Capital Management LLC raised its position in shares of Pinnacle Financial Partners by 49.9% in the third quarter. ETRADE Capital Management LLC now owns 23,048 shares of the financial services provider’s stock valued at $1,543,000 after purchasing an additional 7,668 shares during the period. Institutional investors own 69.97% of the company’s stock.
About Pinnacle Financial Partners
Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.
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