Insider Selling: Pinnacle Financial Partners, Inc. (PNFP) Director Sells 15,000 Shares of Stock

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Director Thomas R. Sloan sold 15,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $65.97, for a total transaction of $989,550.00. Following the completion of the sale, the director now directly owns 108,257 shares of the company’s stock, valued at approximately $7,141,714.29. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Pinnacle Financial Partners, Inc. (PNFP) traded up $0.90 during trading hours on Thursday, reaching $69.45. 455,475 shares of the company were exchanged, compared to its average volume of 396,309. Pinnacle Financial Partners, Inc. has a 52 week low of $58.40 and a 52 week high of $71.55. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.57. The company has a market cap of $5,390.00, a price-to-earnings ratio of 21.44, a P/E/G ratio of 1.10 and a beta of 1.31.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.90 EPS for the quarter, beating the Zacks’ 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 company had revenue of $216.20 million during the quarter, compared to analyst estimates of $217.13 million. During the same period in the prior year, the business posted $0.78 EPS. The firm’s revenue was up 102.8% compared to the same quarter last year. research analysts predict that Pinnacle Financial Partners, Inc. will post 3.56 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Pinnacle Financial Partners by 42.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,840,702 shares of the financial services provider’s stock worth $366,796,000 after purchasing an additional 1,746,012 shares in the last quarter. BlackRock Inc. raised its holdings in Pinnacle Financial Partners by 2.8% in the 2nd quarter. BlackRock Inc. now owns 5,788,167 shares of the financial services provider’s stock worth $363,496,000 after purchasing an additional 155,620 shares in the last quarter. State Street Corp raised its holdings in Pinnacle Financial Partners by 42.8% in the 2nd quarter. State Street Corp now owns 2,733,336 shares of the financial services provider’s stock worth $171,658,000 after purchasing an additional 819,858 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Pinnacle Financial Partners by 56.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,128,192 shares of the financial services provider’s stock worth $133,651,000 after purchasing an additional 764,072 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Pinnacle Financial Partners by 10.4% in the 3rd quarter. Jennison Associates LLC now owns 1,886,559 shares of the financial services provider’s stock worth $126,305,000 after purchasing an additional 177,049 shares in the last quarter. Institutional investors and hedge funds own 71.75% of the company’s stock.

A number of brokerages have recently issued reports on PNFP. BidaskClub cut shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday, October 19th. Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research raised shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Wednesday, December 20th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Pinnacle Financial Partners presently has a consensus rating of “Buy” and a consensus price target of $75.17.

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Pinnacle Financial Partners Company Profile

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.

Insider Buying and Selling by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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