Pinnacle Financial Partners (NASDAQ:PNFP) CAO Hugh M. Queener sold 21,253 shares of the firm’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $67.51, for a total value of $1,434,790.03. Following the sale, the chief accounting officer now directly owns 235,471 shares of the company’s stock, valued at approximately $15,896,647.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Pinnacle Financial Partners (NASDAQ:PNFP) opened at $68.55 on Friday. Pinnacle Financial Partners has a one year low of $58.40 and a one year high of $70.30. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $5,280.00, a price-to-earnings ratio of 21.36, a PEG ratio of 1.03 and a beta of 1.07.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $224.62 million. During the same period in the previous year, the firm posted $0.83 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. sell-side analysts predict that Pinnacle Financial Partners will post 4.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 2nd were paid a $0.14 dividend. The ex-dividend date was Thursday, February 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.82%. Pinnacle Financial Partners’s payout ratio is presently 17.45%.
Several hedge funds and other institutional investors have recently modified their holdings of PNFP. Whittier Trust Co. acquired a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at $119,000. Tower Research Capital LLC TRC grew its stake in shares of Pinnacle Financial Partners by 252.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,929 shares of the financial services provider’s stock valued at $128,000 after buying an additional 1,381 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Pinnacle Financial Partners by 130.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,300 shares of the financial services provider’s stock valued at $152,000 after buying an additional 1,300 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Pinnacle Financial Partners by 33.8% in the third quarter. Advisor Group Inc. now owns 3,069 shares of the financial services provider’s stock valued at $206,000 after buying an additional 775 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Pinnacle Financial Partners by 49.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,681 shares of the financial services provider’s stock valued at $244,000 after buying an additional 1,217 shares in the last quarter. 71.79% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on PNFP shares. Sandler O’Neill set a $76.00 target price on Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Thursday, January 18th. SunTrust Banks cut 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. 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. Piper Jaffray Companies set a $76.00 target price on Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Thursday, November 30th. Finally, BidaskClub raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $76.14.
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About Pinnacle Financial Partners
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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