Insider Selling: Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Director Sells $1,298,934.00 in Stock

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Director David B. Ingram sold 10,309 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $126.00, for a total value of $1,298,934.00. Following the completion of the transaction, the director now directly owns 82,256 shares in the company, valued at $10,364,256. This trade represents a 11.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Pinnacle Financial Partners Price Performance

PNFP opened at $125.35 on Thursday. The firm has a market capitalization of $9.68 billion, a PE ratio of 20.96 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. The business’s 50-day moving average is $119.22 and its two-hundred day moving average is $107.39. Pinnacle Financial Partners, Inc. has a 1 year low of $73.62 and a 1 year high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The firm had revenue of $475.34 million for the quarter, compared to the consensus estimate of $470.33 million. During the same quarter in the previous year, the firm earned $1.68 EPS. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. Research analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.79 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 7th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, February 7th. This is an increase from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.77%. Pinnacle Financial Partners’s dividend payout ratio is presently 14.72%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PNFP. UBS Group started coverage on shares of Pinnacle Financial Partners in a report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price target on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $135.00 price objective (up from $115.00) on shares of Pinnacle Financial Partners in a report on Wednesday, December 4th. JPMorgan Chase & Co. lowered their target price on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Barclays upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $120.00 to $135.00 in a research note on Thursday, December 19th. Finally, Citigroup lifted their price objective on Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $125.18.

Institutional Trading of Pinnacle Financial Partners

Institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in Pinnacle Financial Partners during the 3rd quarter valued at about $30,000. UMB Bank n.a. grew its stake in shares of Pinnacle Financial Partners by 83.4% during the third quarter. UMB Bank n.a. now owns 497 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 226 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Pinnacle Financial Partners during the third quarter valued at about $49,000. Brooklyn Investment Group purchased a new position in shares of Pinnacle Financial Partners in the 3rd quarter valued at approximately $70,000. Finally, Principal Securities Inc. boosted its stake in Pinnacle Financial Partners by 12.7% in the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

About Pinnacle Financial Partners

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.