Insider Selling: Pinnacle Financial Partners (PNFP) Director Sells 2,162 Shares of Stock

Pinnacle Financial Partners (NASDAQ:PNFP) Director Charles E. Brock sold 2,162 shares of Pinnacle Financial Partners stock in a transaction on Friday, February 16th. The shares were sold at an average price of $64.71, for a total value of $139,903.02. Following the completion of the sale, the director now directly owns 36,136 shares of the company’s stock, valued at $2,338,360.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Pinnacle Financial Partners (PNFP) traded down $0.10 during trading hours on Wednesday, hitting $65.80. The stock had a trading volume of 788,900 shares, compared to its average volume of 569,802. Pinnacle Financial Partners has a 1-year low of $58.40 and a 1-year high of $71.55. 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 company has a market cap of $5,123.04, a price-to-earnings ratio of 23.50, a P/E/G ratio of 1.00 and a beta of 1.13.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $211.20 million for the quarter, compared to analyst estimates of $224.62 million. During the same period last year, the company earned $0.83 EPS. The firm’s revenue was down 2.3% on a year-over-year basis. sell-side analysts predict that Pinnacle Financial Partners will post 4.72 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 2nd will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $0.56 annualized dividend and a dividend yield of 0.85%. Pinnacle Financial Partners’s dividend payout ratio is currently 20.00%.

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Pinnacle Financial Partners by 95.7% in the 4th quarter. SG Americas Securities LLC now owns 14,871 shares of the financial services provider’s stock worth $986,000 after purchasing an additional 7,272 shares during the last quarter. ETRADE Capital Management LLC boosted its position in shares of Pinnacle Financial Partners by 49.9% in the 3rd quarter. ETRADE Capital Management LLC now owns 23,048 shares of the financial services provider’s stock worth $1,543,000 after purchasing an additional 7,668 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Pinnacle Financial Partners by 164.5% in the 3rd 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 last quarter. Walthausen & Co. LLC boosted its position in shares of Pinnacle Financial Partners by 11.2% in the 3rd quarter. Walthausen & Co. LLC now owns 179,687 shares of the financial services provider’s stock worth $12,030,000 after purchasing an additional 18,149 shares during the last quarter. Finally, Maple Capital Management Inc. bought a new position in shares of Pinnacle Financial Partners in the 3rd quarter worth $624,000. Institutional investors and hedge funds own 73.64% of the company’s stock.

Several equities research analysts have recently commented on PNFP shares. Piper Jaffray Companies set a $76.00 target price on Pinnacle Financial Partners and gave the company a “buy” rating in a research note on Thursday, November 30th. Hilliard Lyons raised Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Wednesday, December 20th. Sandler O’Neill set a $76.00 target price on Pinnacle Financial Partners and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, SunTrust Banks lowered their target price on Pinnacle Financial Partners to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price 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.

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

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