Stock Traders Purchase Large Volume of Call Options on Pinnacle Financial Partners (PNFP)

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.

How to Become a New Pot Stock Millionaire

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.

COPYRIGHT VIOLATION WARNING: “Stock Traders Purchase Large Volume of Call Options on Pinnacle Financial Partners (PNFP)” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another site, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/04/18/stock-traders-purchase-large-volume-of-call-options-on-pinnacle-financial-partners-pnfp.html.

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.

Receive News & Ratings for Pinnacle Financial Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply