Pinnacle Financial Partners (NASDAQ:PNFP) was the recipient of unusually large options trading activity on Monday. Stock traders bought 1,340 call options on the company. This is an increase of approximately 1,640% compared to the typical volume of 77 call options.
In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 11,835 shares of Pinnacle Financial Partners stock in a transaction on Monday, March 12th. The shares were sold at an average price of $68.44, for a total transaction of $809,987.40. Following the completion of the sale, the chief financial officer now owns 99,021 shares of the company’s stock, valued at approximately $6,776,997.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, March 27th. The stock was sold at an average price of $63.03, for a total transaction of $189,090.00. Following the sale, the insider now directly owns 40,375 shares of the company’s stock, valued at approximately $2,544,836.25. The disclosure for this sale can be found here. Insiders have sold a total of 102,711 shares of company stock valued at $6,908,315 in the last ninety days. Company insiders own 3.39% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB bought a new stake in Pinnacle Financial Partners in the 4th quarter valued at $444,000. Pier Capital LLC lifted its position in Pinnacle Financial Partners by 9.1% in the 4th quarter. Pier Capital LLC now owns 108,811 shares of the financial services provider’s stock valued at $7,214,000 after acquiring an additional 9,084 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in Pinnacle Financial Partners in the 4th quarter valued at $3,094,000. Millennium Management LLC lifted its position in Pinnacle Financial Partners by 36.5% in the 4th quarter. Millennium Management LLC now owns 248,598 shares of the financial services provider’s stock valued at $16,482,000 after acquiring an additional 66,477 shares in the last quarter. Finally, Meadow Creek Investment Management LLC lifted its position in Pinnacle Financial Partners by 34.5% in the 4th quarter. Meadow Creek Investment Management LLC now owns 10,744 shares of the financial services provider’s stock valued at $712,000 after acquiring an additional 2,754 shares in the last quarter. 72.17% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on PNFP. UBS began coverage on shares of Pinnacle Financial Partners in a report on Wednesday, March 21st. They set a “sell” rating and a $56.00 target price for the company. BidaskClub raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Zacks Investment Research raised shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a report on Wednesday, December 20th. Wells Fargo began coverage on shares of Pinnacle Financial Partners in a report on Thursday, December 21st. They issued an “outperform” rating and a $80.00 price target for the company. Finally, SunTrust Banks decreased their price target on shares of Pinnacle Financial Partners to $80.00 and set a “buy” rating for the company in a report on Thursday, January 18th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Pinnacle Financial Partners has a consensus rating of “Buy” and a consensus price target of $73.13.
Shares of PNFP stock opened at $62.05 on Wednesday. Pinnacle Financial Partners has a 12-month low of $58.40 and a 12-month high of $70.30. The firm has a market capitalization of $4,988.66, a PE ratio of 17.38, a PEG ratio of 0.97 and a beta of 1.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.00 and a quick ratio of 0.99.
Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Monday, April 16th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 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 $218.60 million during the quarter, compared to analyst estimates of $220.48 million. During the same quarter in the previous year, the business earned $0.83 EPS. The firm’s revenue was up 83.5% on a year-over-year basis. equities analysts expect that Pinnacle Financial Partners will post 4.72 EPS for the current fiscal year.
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Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.
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