Pinnacle Financial Partners (NASDAQ:PNFP) CEO M Terry Turner sold 31,171 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $67.11, for a total transaction of $2,091,885.81. Following the completion of the transaction, the chief executive officer now owns 489,701 shares in the company, valued at $32,863,834.11. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Pinnacle Financial Partners (PNFP) traded up $0.20 during midday trading on Friday, hitting $64.20. 641,098 shares of the company were exchanged, compared to its average volume of 475,334. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a market cap of $4,990.00, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. Pinnacle Financial Partners has a 1 year low of $58.40 and a 1 year high of $71.55.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, January 16th. The financial services provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. The firm had revenue of $211.20 million for the quarter, compared to the consensus estimate of $224.62 million. Pinnacle Financial Partners had a net margin of 22.27% and a return on equity of 7.24%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. equities analysts expect that Pinnacle Financial Partners will post 4.71 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 2nd will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, February 1st. Pinnacle Financial Partners’s dividend payout ratio is currently 20.00%.
A number of large investors have recently modified their holdings of PNFP. Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 1,746,012 shares during the period. BlackRock Inc. lifted its stake in shares of 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 acquiring an additional 155,620 shares during the period. Jennison Associates LLC lifted its stake in shares of Pinnacle Financial Partners by 51.7% in the 4th quarter. Jennison Associates LLC now owns 2,861,331 shares of the financial services provider’s stock worth $189,706,000 after acquiring an additional 974,772 shares during the period. State Street Corp lifted its stake in shares of 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 acquiring an additional 819,858 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of 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 acquiring an additional 764,072 shares during the period. Hedge funds and other institutional investors own 71.57% of the company’s stock.
PNFP has been the topic of several recent analyst reports. Piper Jaffray Companies restated an “overweight” rating and issued a $72.00 price objective on shares of Pinnacle Financial Partners in a report on Thursday, October 5th. 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. SunTrust Banks reaffirmed a “buy” rating and set a $74.00 target price on shares of Pinnacle Financial Partners in a research note on Friday, October 20th. Hilliard Lyons downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 target price on the stock. in a research note on Friday, October 20th. Finally, BidaskClub downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Pinnacle Financial Partners currently has a consensus rating of “Buy” and a consensus price target of $76.14.
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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.
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