Wealth Enhancement Advisory Services LLC Raises Stock Holdings in Pinnacle Financial Partners, Inc. $PNFP

Wealth Enhancement Advisory Services LLC raised its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 97.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 47,073 shares of the financial services provider’s stock after purchasing an additional 23,292 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Pinnacle Financial Partners were worth $4,327,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Pinnacle Financial Partners in the 2nd quarter worth about $113,461,000. Balyasny Asset Management L.P. boosted its stake in Pinnacle Financial Partners by 1,036.4% during the second quarter. Balyasny Asset Management L.P. now owns 297,181 shares of the financial services provider’s stock worth $32,812,000 after acquiring an additional 271,029 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in Pinnacle Financial Partners in the second quarter worth about $20,932,000. Sei Investments Co. increased its stake in shares of Pinnacle Financial Partners by 82.7% during the second quarter. Sei Investments Co. now owns 376,762 shares of the financial services provider’s stock valued at $41,598,000 after purchasing an additional 170,536 shares in the last quarter. Finally, Holocene Advisors LP lifted its holdings in shares of Pinnacle Financial Partners by 139.9% during the second quarter. Holocene Advisors LP now owns 225,148 shares of the financial services provider’s stock valued at $24,859,000 after purchasing an additional 131,280 shares during the last quarter. Institutional investors own 87.40% of the company’s stock.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total value of $630,075.00. Following the transaction, the chairman directly owned 202,505 shares in the company, valued at $18,832,965. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.46% of the stock is owned by insiders.

Pinnacle Financial Partners Stock Down 1.2%

PNFP opened at $95.86 on Tuesday. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.48 and a beta of 1.02. The firm has a 50 day moving average price of $96.48 and a 200-day moving average price of $94.96. Pinnacle Financial Partners, Inc. has a twelve month low of $81.57 and a twelve month high of $127.85. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, February 6th. Pinnacle Financial Partners’s payout ratio is currently 11.87%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Stephens cut their price target on Pinnacle Financial Partners from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, October 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Pinnacle Financial Partners in a report on Monday, December 29th. Piper Sandler upgraded Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and raised their price target for the company from $117.00 to $120.00 in a report on Monday, January 5th. DA Davidson began coverage on Pinnacle Financial Partners in a research report on Monday, January 5th. They issued a “neutral” rating and a $110.00 price target for the company. Finally, Barclays increased their price objective on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Pinnacle Financial Partners has an average rating of “Moderate Buy” and an average price target of $113.29.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.