Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Shares Sold by Coyle Financial Counsel LLC

Coyle Financial Counsel LLC decreased its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,529 shares of the financial services provider’s stock after selling 209 shares during the quarter. Coyle Financial Counsel LLC’s holdings in Pinnacle Financial Partners were worth $1,776,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in Pinnacle Financial Partners by 17.9% in the 3rd quarter. Victory Capital Management Inc. now owns 186,612 shares of the financial services provider’s stock worth $18,282,000 after purchasing an additional 28,327 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Pinnacle Financial Partners during the 3rd quarter worth approximately $3,606,000. KBC Group NV increased its stake in Pinnacle Financial Partners by 1,054.3% during the 4th quarter. KBC Group NV now owns 26,722 shares of the financial services provider’s stock worth $3,057,000 after buying an additional 24,407 shares in the last quarter. Artemis Investment Management LLP increased its stake in Pinnacle Financial Partners by 2.6% during the 4th quarter. Artemis Investment Management LLP now owns 482,672 shares of the financial services provider’s stock worth $55,213,000 after buying an additional 12,455 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Pinnacle Financial Partners by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,328,564 shares of the financial services provider’s stock worth $130,192,000 after buying an additional 8,604 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Trading Down 1.0 %

PNFP opened at $113.02 on Tuesday. Pinnacle Financial Partners, Inc. has a one year low of $73.62 and a one year high of $131.91. The stock has a market capitalization of $8.73 billion, a PE ratio of 18.90 and a beta of 1.09. The business’s 50 day moving average price is $118.49 and its 200 day moving average price is $110.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.10. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The firm had revenue of $475.34 million for the quarter, compared to analysts’ expectations of $470.33 million. During the same period in the prior year, the firm posted $1.68 earnings per share. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. As a group, equities research analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 7th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is a boost from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 0.85%. Pinnacle Financial Partners’s dividend payout ratio is currently 16.05%.

Insider Activity at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 3,051 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 60,805 shares in the company, valued at $7,635,283.85. This represents a 4.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Ingram sold 20,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $126.02, for a total value of $2,520,400.00. Following the transaction, the director now owns 92,565 shares in the company, valued at $11,665,041.30. This trade represents a 17.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,970 shares of company stock worth $15,922,061. Insiders own 1.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. JPMorgan Chase & Co. cut their price objective on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $135.00 price objective (up from $115.00) on shares of Pinnacle Financial Partners in a research note on Wednesday, December 4th. Hovde Group lowered Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price objective for the company. in a research note on Monday, November 18th. Stephens restated an “overweight” rating and issued a $142.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their price target on Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $125.18.

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.