Oliver Luxxe Assets LLC Purchases 7,691 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Oliver Luxxe Assets LLC boosted its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 19.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,667 shares of the financial services provider’s stock after purchasing an additional 7,691 shares during the period. Oliver Luxxe Assets LLC owned about 0.06% of Pinnacle Financial Partners worth $5,338,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PNFP. OneDigital Investment Advisors LLC increased its stake in Pinnacle Financial Partners by 1.3% during the third quarter. OneDigital Investment Advisors LLC now owns 6,646 shares of the financial services provider’s stock worth $651,000 after acquiring an additional 88 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Pinnacle Financial Partners by 0.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 17,976 shares of the financial services provider’s stock valued at $1,761,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. raised its holdings in Pinnacle Financial Partners by 10.6% during the 3rd quarter. Blue Trust Inc. now owns 1,315 shares of the financial services provider’s stock valued at $129,000 after buying an additional 126 shares during the period. Strategic Blueprint LLC lifted its position in Pinnacle Financial Partners by 3.4% in the third quarter. Strategic Blueprint LLC now owns 4,025 shares of the financial services provider’s stock worth $394,000 after buying an additional 133 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Pinnacle Financial Partners by 16.5% during the third quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock worth $97,000 after buying an additional 141 shares during the period. 87.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pinnacle Financial Partners

In related news, Director David B. Ingram sold 3,610 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $126.07, for a total transaction of $455,112.70. Following the completion of the transaction, the director now owns 139,489 shares in the company, valued at $17,585,378.23. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $124.09, for a total transaction of $6,204,500.00. Following the sale, the chairman now directly owns 123,000 shares of the company’s stock, valued at $15,263,070. The trade was a 28.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,661 shares of company stock worth $9,563,127 over the last quarter. Insiders own 1.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PNFP shares. Citigroup increased their target price on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. UBS Group initiated coverage on shares of Pinnacle Financial Partners in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price objective on the stock. Hovde Group cut Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 target price on the stock. in a research note on Monday, November 18th. Barclays upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $120.00 to $135.00 in a report on Thursday, December 19th. Finally, Stephens boosted their price objective on Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $119.73.

Pinnacle Financial Partners Stock Down 0.1 %

NASDAQ PNFP traded down $0.06 during trading on Monday, reaching $115.36. 297,333 shares of the company’s stock traded hands, compared to its average volume of 324,177. Pinnacle Financial Partners, Inc. has a 12-month low of $73.62 and a 12-month high of $131.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 21.93 and a beta of 1.09. The company’s 50 day simple moving average is $118.38 and its two-hundred day simple moving average is $101.30.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.07. The company had revenue of $810.11 million for the quarter, compared to analyst estimates of $454.18 million. Pinnacle Financial Partners had a net margin of 13.97% and a return on equity of 8.89%. During the same period last year, the company posted $1.79 earnings per share. As a group, sell-side analysts forecast that Pinnacle Financial Partners, Inc. will post 6.8 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 1st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, November 1st. Pinnacle Financial Partners’s payout ratio is currently 16.73%.

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.