Pinnacle Financial Partners (NASDAQ:PNFP) CFO Harold R. Carpenter sold 11,835 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $68.44, for a total value of $809,987.40. Following the sale, the chief financial officer now owns 99,021 shares in the company, valued at approximately $6,776,997.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Pinnacle Financial Partners (NASDAQ:PNFP) opened at $66.50 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $5,272.95, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 1.02 and a beta of 1.07. Pinnacle Financial Partners has a 12-month low of $58.40 and a 12-month high of $70.30.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The business had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $224.62 million. Pinnacle Financial Partners had a return on equity of 7.24% and a net margin of 22.27%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. equities research analysts anticipate that Pinnacle Financial Partners will post 4.72 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 2nd were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.56 annualized dividend and a yield of 0.84%. Pinnacle Financial Partners’s payout ratio is 20.00%.
PNFP has been the topic of a number of research reports. Wells Fargo & Co started coverage on Pinnacle Financial Partners in a research report on Thursday, December 21st. They set an “outperform” rating and a $80.00 price target on the stock. BidaskClub upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Zacks Investment Research upgraded Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Wednesday, December 20th. Piper Jaffray Companies set a $76.00 price objective on Pinnacle Financial Partners and gave the stock a “buy” rating in a report on Thursday, November 30th. Finally, Stephens upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Pinnacle Financial Partners presently has a consensus rating of “Buy” and an average price target of $76.14.
A number of institutional investors have recently bought and sold shares of PNFP. Jennison Associates LLC boosted its position in Pinnacle Financial Partners by 51.7% during the 4th quarter. Jennison Associates LLC now owns 2,861,331 shares of the financial services provider’s stock valued at $189,706,000 after acquiring an additional 974,772 shares in the last quarter. Pinnacle Financial Partners Inc. boosted its position in Pinnacle Financial Partners by 337.7% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 1,112,747 shares of the financial services provider’s stock valued at $74,498,000 after acquiring an additional 858,514 shares in the last quarter. Wells Fargo & Company MN boosted its position in Pinnacle Financial Partners by 164.5% during the 3rd quarter. Wells Fargo & Company MN now owns 813,985 shares of the financial services provider’s stock valued at $54,496,000 after acquiring an additional 506,213 shares in the last quarter. Alliancebernstein L.P. boosted its position in Pinnacle Financial Partners by 232.0% during the 4th quarter. Alliancebernstein L.P. now owns 540,977 shares of the financial services provider’s stock valued at $35,867,000 after acquiring an additional 378,050 shares in the last quarter. Finally, Oak Ridge Investments LLC boosted its position in Pinnacle Financial Partners by 798.5% during the 3rd quarter. Oak Ridge Investments LLC now owns 419,104 shares of the financial services provider’s stock valued at $28,059,000 after acquiring an additional 372,457 shares in the last quarter. 72.13% of the stock is currently owned by institutional investors and hedge funds.
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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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