Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Director Glenda Baskin Glover Sells 3,000 Shares

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Director Glenda Baskin Glover sold 3,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $101.55, for a total value of $304,650.00. Following the sale, the director now directly owns 9,943 shares in the company, valued at $1,009,711.65. This represents a 23.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Pinnacle Financial Partners Stock Up 0.9 %

PNFP stock opened at $103.79 on Tuesday. Pinnacle Financial Partners, Inc. has a 12 month low of $73.62 and a 12 month high of $131.91. The company’s 50 day simple moving average is $116.29 and its 200-day simple moving average is $111.64. The firm has a market capitalization of $8.03 billion, a PE ratio of 17.36 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.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results 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. The firm had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. Pinnacle Financial Partners’s revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.68 earnings per share. Equities 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 was paid on Friday, February 28th. Shareholders of record on Friday, February 7th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 16.05%.

Analysts Set New Price Targets

PNFP has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of 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. Citigroup increased their target price on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $135.00 target price (up previously from $115.00) on shares of Pinnacle Financial Partners in a research note on Wednesday, December 4th. Wells Fargo & Company increased their price target on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $125.18.

Hedge Funds Weigh In On Pinnacle Financial Partners

Hedge funds have recently made changes to their positions in the business. Kapitalo Investimentos Ltda purchased a new stake in Pinnacle Financial Partners during the 4th quarter worth $78,000. Brooklyn Investment Group acquired a new position in shares of Pinnacle Financial Partners in the 3rd quarter valued at about $70,000. UMB Bank n.a. boosted its holdings in shares of Pinnacle Financial Partners by 48.1% in the 4th quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock valued at $84,000 after buying an additional 239 shares during the period. Principal Securities Inc. boosted its stake in Pinnacle Financial Partners by 12.7% during the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 91 shares during the period. Finally, Trust Co. of Vermont acquired a new position in Pinnacle Financial Partners during the 4th quarter valued at about $97,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

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.