Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Holdings Boosted by Values First Advisors Inc.

Values First Advisors Inc. grew its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 189.9% in the 4th quarter, Holdings Channel reports. The firm owned 1,458 shares of the financial services provider’s stock after acquiring an additional 955 shares during the quarter. Values First Advisors Inc.’s holdings in Pinnacle Financial Partners were worth $167,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PNFP. Ashton Thomas Securities LLC acquired a new position in Pinnacle Financial Partners during the 3rd quarter valued at approximately $30,000. Brooklyn Investment Group bought a new stake in Pinnacle Financial Partners in the third quarter valued at $70,000. UMB Bank n.a. boosted its holdings in shares of Pinnacle Financial Partners by 48.1% during the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 239 shares during the period. Trust Co. of Vermont bought a new position in shares of Pinnacle Financial Partners during the fourth quarter worth about $97,000. Finally, Blue Trust Inc. increased its holdings in shares of Pinnacle Financial Partners by 10.6% in the 3rd quarter. Blue Trust Inc. now owns 1,315 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 126 shares during the period. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David B. Ingram sold 40,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $126.50, for a total value of $5,060,000.00. Following the transaction, the director now owns 40,991 shares in the company, valued at $5,185,361.50. This represents a 49.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Harold R. Carpenter sold 3,051 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $125.57, for a total transaction of $383,114.07. Following the completion of the sale, the chief financial officer now owns 60,805 shares of the company’s stock, valued at approximately $7,635,283.85. The trade was a 4.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,970 shares of company stock worth $15,922,061. Insiders own 1.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Hovde Group lowered shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 target price for the company. in a research note on Monday, November 18th. Barclays upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $120.00 to $135.00 in a research report on Thursday, December 19th. UBS Group initiated coverage on Pinnacle Financial Partners in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 target price on the stock. Stephens reiterated an “overweight” rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered their price target on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $125.18.

Pinnacle Financial Partners Trading Down 3.3 %

Shares of PNFP stock opened at $119.27 on Thursday. The stock has a 50-day simple moving average of $119.02 and a 200 day simple moving average of $108.38. The stock has a market capitalization of $9.21 billion, a P/E ratio of 19.94 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a fifty-two week low of $73.62 and a fifty-two week high of $131.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $475.34 million during the quarter, compared to analyst estimates of $470.33 million. During the same quarter last year, the firm posted $1.68 EPS. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 7th will be issued a $0.24 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. This is a boost from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s dividend payout ratio is currently 14.72%.

Pinnacle Financial Partners 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.