SG Americas Securities LLC Boosts Holdings in Pinnacle Financial Partners (PNFP)

SG Americas Securities LLC boosted its holdings in shares of Pinnacle Financial Partners (NASDAQ:PNFP) by 95.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,871 shares of the financial services provider’s stock after acquiring an additional 7,272 shares during the quarter. SG Americas Securities LLC’s holdings in Pinnacle Financial Partners were worth $986,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. HighTower Advisors LLC lifted its position in shares of Pinnacle Financial Partners by 3.9% in the 2nd quarter. HighTower Advisors LLC now owns 5,820 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 220 shares during the period. Advisor Group Inc. lifted 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 worth $144,000 after purchasing an additional 291 shares during the period. Mutual of America Capital Management LLC lifted its position in shares of Pinnacle Financial Partners by 1.1% in the 3rd quarter. Mutual of America Capital Management LLC now owns 114,446 shares of the financial services provider’s stock worth $7,662,000 after purchasing an additional 1,293 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of 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 worth $152,000 after purchasing an additional 1,300 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Pinnacle Financial Partners by 44.8% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,486 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 1,389 shares during the period. 72.60% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on PNFP. Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub upgraded shares of Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 3rd. Stephens upgraded shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating in a research report on Monday, February 5th. Piper Jaffray Companies reiterated a “buy” rating and set a $74.00 target price on shares of Pinnacle Financial Partners in a research report on Thursday, October 19th. Finally, Hilliard Lyons upgraded shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Pinnacle Financial Partners presently has a consensus rating of “Buy” and a consensus price target of $76.14.

Pinnacle Financial Partners (NASDAQ PNFP) opened at $64.10 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.99 and a current ratio of 1.00. Pinnacle Financial Partners has a 1 year low of $58.40 and a 1 year high of $71.55. The stock has a market cap of $4,831.52, a price-to-earnings ratio of 22.89, a P/E/G ratio of 0.94 and a beta of 1.13.

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, beating the Zacks’ consensus estimate of $0.94 by $0.03. Pinnacle Financial Partners had a net margin of 22.27% and a return on equity of 7.24%. The company had revenue of $211.20 million for the quarter, compared to the consensus estimate of $224.62 million. During the same quarter in the previous year, the company earned $0.83 EPS. Pinnacle Financial Partners’s quarterly revenue was down 2.3% compared to the same quarter last year. research analysts expect that Pinnacle Financial Partners will post 4.7 earnings per share for the current fiscal year.

The business also recently announced 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 is Thursday, February 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.87%. Pinnacle Financial Partners’s payout ratio is presently 20.00%.

In other Pinnacle Financial Partners news, Director Thomas R. Sloan sold 15,000 shares of the business’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 owns 108,257 shares in the company, valued at approximately $7,141,714.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $67.20, for a total transaction of $201,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 57,044 shares of company stock worth $3,791,760 in the last quarter. 5.41% of the stock is owned by corporate insiders.

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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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Institutional Ownership by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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