Pinnacle Financial Partners (NASDAQ:PNFP) Chairman Richard D. Callicutt II sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $65.56, for a total transaction of $1,311,200.00. Following the sale, the chairman now owns 168,741 shares in the company, valued at $11,062,659.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Pinnacle Financial Partners stock opened at $66.55 on Friday. Pinnacle Financial Partners has a one year low of $58.40 and a one year high of $70.30. The stock has a market cap of $5.16 billion, a PE ratio of 18.64, a P/E/G ratio of 0.88 and a beta of 1.04. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.00.
Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Monday, April 16th. The financial services provider reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Pinnacle Financial Partners had a return on equity of 7.52% and a net margin of 24.09%. The business had revenue of $218.60 million during the quarter, compared to the consensus estimate of $220.48 million. During the same period in the previous year, the company posted $0.83 earnings per share. The business’s revenue for the quarter was up 83.5% 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 disclosed a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 4th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 3rd. Pinnacle Financial Partners’s dividend payout ratio is presently 15.69%.
A number of analysts have issued reports on PNFP shares. Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Wednesday, March 28th. BidaskClub upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. Raymond James upgraded shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 10th. UBS upgraded shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 10th. Finally, Keefe, Bruyette & Woods upgraded shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Pinnacle Financial Partners presently has a consensus rating of “Buy” and a consensus price target of $72.22.
Several institutional investors have recently made changes to their positions in PNFP. Ceredex Value Advisors LLC acquired a new position in shares of Pinnacle Financial Partners during the first quarter worth about $90,692,000. Jennison Associates LLC grew its position in shares of Pinnacle Financial Partners by 51.7% during the fourth quarter. Jennison Associates LLC now owns 2,861,331 shares of the financial services provider’s stock worth $189,706,000 after buying an additional 974,772 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Pinnacle Financial Partners by 124.4% during the first quarter. The Manufacturers Life Insurance Company now owns 1,146,362 shares of the financial services provider’s stock worth $73,597,000 after buying an additional 635,410 shares in the last quarter. Millennium Management LLC boosted its holdings in Pinnacle Financial Partners by 189.1% in the first quarter. Millennium Management LLC now owns 718,629 shares of the financial services provider’s stock valued at $46,136,000 after purchasing an additional 470,031 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Pinnacle Financial Partners by 232.0% in the fourth quarter. Alliancebernstein L.P. now owns 540,977 shares of the financial services provider’s stock valued at $35,867,000 after purchasing an additional 378,050 shares in the last quarter. 73.26% of the stock is owned by institutional investors and hedge funds.
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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