NFC Investments LLC Lowers Stock Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

NFC Investments LLC decreased its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 12.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,200 shares of the financial services provider’s stock after selling 300 shares during the quarter. NFC Investments LLC’s holdings in Pinnacle Financial Partners were worth $216,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. lifted its position in Pinnacle Financial Partners by 28.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,412 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 751 shares during the period. GAMMA Investing LLC grew its holdings in Pinnacle Financial Partners by 26.7% during the second quarter. GAMMA Investing LLC now owns 853 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 180 shares during the period. Versant Capital Management Inc grew its holdings in Pinnacle Financial Partners by 44.5% during the second quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 133 shares during the period. Lbmc Investment Advisors LLC grew its holdings in Pinnacle Financial Partners by 7.1% during the second quarter. Lbmc Investment Advisors LLC now owns 15,564 shares of the financial services provider’s stock worth $1,246,000 after acquiring an additional 1,033 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Pinnacle Financial Partners during the second quarter worth $366,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Trading Up 0.1 %

Shares of Pinnacle Financial Partners stock traded up $0.09 during trading hours on Tuesday, reaching $125.25. The stock had a trading volume of 40,456 shares, compared to its average volume of 469,693. The firm has a 50 day simple moving average of $109.45 and a two-hundred day simple moving average of $94.83. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 23.79 and a beta of 1.08. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42. 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 posted its earnings results on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.07. Pinnacle Financial Partners had a return on equity of 8.89% and a net margin of 13.97%. The business had revenue of $810.11 million during the quarter, compared to analyst estimates of $454.18 million. During the same quarter last year, the firm earned $1.79 earnings per share. As a group, equities research analysts anticipate that Pinnacle Financial Partners, Inc. will post 6.8 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 1st were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.70%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 16.73%.

Wall Street Analysts Forecast Growth

PNFP has been the topic of a number of recent analyst reports. Stephens upped their price objective on Pinnacle Financial Partners from $108.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Wells Fargo & Company upped their target price on Pinnacle Financial Partners from $104.00 to $120.00 and gave the company an “equal weight” rating in a report on Tuesday. Barclays upped their target price on Pinnacle Financial Partners from $101.00 to $108.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Citigroup upped their target price on Pinnacle Financial Partners from $113.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Hovde Group lowered Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 target price on the stock. in a report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $110.30.

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.