Quantitative Systematic Strategies LLC acquired a new position in Pinnacle Financial Partners (NASDAQ:PNFP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,102 shares of the financial services provider’s stock, valued at approximately $405,000.
Several other institutional investors also recently bought and sold shares of the company. Advisor Group Inc. grew its position in shares of Pinnacle Financial Partners by 14.5% in the 2nd quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 291 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in Pinnacle Financial Partners by 130.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,300 shares of the financial services provider’s stock valued at $152,000 after acquiring an additional 1,300 shares in the last quarter. Aldebaran Financial Inc. bought a new stake in Pinnacle Financial Partners in the 2nd quarter valued at approximately $231,000. M&T Bank Corp lifted its stake in Pinnacle Financial Partners by 5.3% in the 2nd quarter. M&T Bank Corp now owns 3,799 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 191 shares in the last quarter. Finally, Brightworth bought a new stake in Pinnacle Financial Partners in the 3rd quarter valued at approximately $241,000. Institutional investors own 72.60% of the company’s stock.
In other Pinnacle Financial Partners news, Director Ed C. Loughry, Jr. sold 1,873 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $64.30, for a total value of $120,433.90. Following the completion of the transaction, the director now directly owns 95,109 shares in the company, valued at $6,115,508.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $65.96, for a total value of $197,880.00. Following the completion of the transaction, the insider now owns 52,794 shares of the company’s stock, valued at $3,482,292.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,044 shares of company stock valued at $3,791,760. 5.41% of the stock is owned by corporate insiders.
Pinnacle Financial Partners (NASDAQ PNFP) traded up $0.25 on Wednesday, hitting $62.15. The stock had a trading volume of 208,400 shares, compared to its average volume of 578,157. The firm has a market cap of $4,812.08, a price-to-earnings ratio of 22.20, a P/E/G ratio of 0.94 and a beta of 1.13. Pinnacle Financial Partners has a 12 month low of $58.40 and a 12 month high of $71.55. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Pinnacle Financial Partners had a return on equity of 7.24% and a net margin of 22.27%. The company had revenue of $211.20 million for the quarter, compared to analyst estimates of $224.62 million. During the same period in the prior year, the firm posted $0.83 EPS. Pinnacle Financial Partners’s quarterly revenue was down 2.3% on a year-over-year basis. equities analysts anticipate that Pinnacle Financial Partners will post 4.7 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 2nd will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $0.56 annualized dividend and a dividend yield of 0.90%. Pinnacle Financial Partners’s dividend payout ratio is currently 20.00%.
PNFP has been the topic of several research reports. Piper Jaffray Companies restated a “buy” rating and issued a $74.00 target price on shares of Pinnacle Financial Partners in a research note on Thursday, October 19th. SunTrust Banks reiterated a “buy” rating and set a $74.00 price objective on shares of Pinnacle Financial Partners in a research note on Friday, October 20th. Zacks Investment Research upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. Hilliard Lyons lowered Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 target price on the stock. in a report on Friday, October 20th. Finally, BidaskClub lowered Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. One 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. The company has a consensus rating of “Buy” and an average target price of $76.14.
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Pinnacle Financial Partners 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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