M Terry Turner Sells 72,000 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Stock

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) CEO M Terry Turner sold 72,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $80.97, for a total transaction of $5,829,840.00. Following the completion of the transaction, the chief executive officer now owns 222,790 shares in the company, valued at approximately $18,039,306.30. The sale was disclosed in a legal filing with the SEC, which is available through this link.

M Terry Turner also recently made the following trade(s):

• On Tuesday, March 12th, M Terry Turner sold 24,057 shares of Pinnacle Financial Partners stock. The stock was sold at an average price of $82.22, for a total transaction of $1,977,966.54.

Pinnacle Financial Partners Stock Down 1.2 %

Shares of PNFP traded down $0.93 during mid-day trading on Monday, hitting $79.36. 407,621 shares of the company’s stock were exchanged, compared to its average volume of 466,787. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average of $82.20 and a two-hundred day moving average of $79.45. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 11.35 and a beta of 1.08. Pinnacle Financial Partners, Inc. has a twelve month low of $43.31 and a twelve month high of $92.33.

Pinnacle Financial Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, May 2nd. Pinnacle Financial Partners’s dividend payout ratio is currently 12.59%.

Institutional Trading of Pinnacle Financial Partners

Several large investors have recently modified their holdings of the company. Caprock Group LLC boosted its holdings in shares of Pinnacle Financial Partners by 2.2% during the 4th quarter. Caprock Group LLC now owns 5,604 shares of the financial services provider’s stock worth $489,000 after buying an additional 122 shares during the period. NBC Securities Inc. boosted its holdings in Pinnacle Financial Partners by 1.3% in the 4th quarter. NBC Securities Inc. now owns 9,419 shares of the financial services provider’s stock valued at $821,000 after purchasing an additional 124 shares during the period. Verdence Capital Advisors LLC boosted its holdings in Pinnacle Financial Partners by 2.9% in the 1st quarter. Verdence Capital Advisors LLC now owns 4,497 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 126 shares during the period. Covenant Partners LLC boosted its holdings in Pinnacle Financial Partners by 1.4% in the 4th quarter. Covenant Partners LLC now owns 10,699 shares of the financial services provider’s stock valued at $933,000 after purchasing an additional 149 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in Pinnacle Financial Partners by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 33,040 shares of the financial services provider’s stock valued at $2,215,000 after purchasing an additional 170 shares during the period. 87.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Truist Financial dropped their target price on shares of Pinnacle Financial Partners from $99.00 to $94.00 and set a “buy” rating for the company in a research report on Thursday. Stephens reaffirmed an “overweight” rating and set a $109.00 price objective on shares of Pinnacle Financial Partners in a research report on Tuesday, April 23rd. Jefferies Financial Group lowered their price objective on shares of Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating for the company in a research report on Monday, April 8th. UBS Group lowered their price objective on shares of Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, January 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $95.50.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.