Robert A. Mccabe, Jr. Sells 115,249 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Stock

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Chairman Robert A. Mccabe, Jr. sold 115,249 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $81.04, for a total value of $9,339,778.96. Following the sale, the chairman now owns 153,062 shares of the company’s stock, valued at approximately $12,404,144.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Pinnacle Financial Partners Price Performance

NASDAQ PNFP opened at $78.25 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s fifty day moving average price is $81.84 and its 200 day moving average price is $79.60. Pinnacle Financial Partners, Inc. has a 1 year low of $43.31 and a 1 year high of $92.33. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 11.19 and a beta of 1.08.

Pinnacle Financial Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, May 2nd. Pinnacle Financial Partners’s dividend payout ratio is currently 12.59%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PNFP shares. Barclays started coverage on Pinnacle Financial Partners in a report on Friday, March 8th. They set an “equal weight” rating and a $93.00 price objective for the company. Jefferies Financial Group decreased their price objective on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating for the company in a report on Monday, April 8th. UBS Group decreased their price objective on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, January 18th. Truist Financial decreased their price objective on Pinnacle Financial Partners from $99.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Stephens reiterated an “overweight” rating and set a $109.00 price objective on shares of Pinnacle Financial Partners in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $95.50.

Institutional Investors Weigh In On Pinnacle Financial Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC acquired a new stake in Pinnacle Financial Partners during the 1st quarter worth about $26,000. Bruce G. Allen Investments LLC acquired a new stake in Pinnacle Financial Partners during the 4th quarter worth about $32,000. Emerald Advisers LLC acquired a new stake in Pinnacle Financial Partners during the 3rd quarter worth about $27,000. Fifth Third Bancorp grew its position in Pinnacle Financial Partners by 101.4% during the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 213 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new stake in Pinnacle Financial Partners during the 4th quarter worth about $44,000. 87.40% of the stock is owned by institutional investors and hedge funds.

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.