11,570 Shares in Pinnacle Financial Partners, Inc. $PNFP Bought by MV Capital Management Inc.

MV Capital Management Inc. purchased a new position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,570 shares of the company’s stock, valued at approximately $1,104,000.

A number of other large investors have also recently added to or reduced their stakes in PNFP. Brown Brothers Harriman & Co. bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at about $26,000. High Point Wealth Management LLC acquired a new stake in Pinnacle Financial Partners in the 4th quarter valued at about $27,000. BOKF NA grew its holdings in Pinnacle Financial Partners by 1,204.5% during the third quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the period. Activest Wealth Management bought a new position in Pinnacle Financial Partners during the fourth quarter worth about $28,000. Finally, CIBC Private Wealth Group LLC grew its holdings in Pinnacle Financial Partners by 175.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 339 shares of the company’s stock worth $32,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Trading Up 0.7%

Pinnacle Financial Partners stock opened at $96.27 on Friday. Pinnacle Financial Partners, Inc. has a 12 month low of $81.08 and a 12 month high of $120.46. The company has a 50 day moving average price of $96.18. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $7.47 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 0.37 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.09. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. As a group, equities research analysts predict that Pinnacle Financial Partners, Inc. will post 10.25 earnings per share for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 1st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 27.74%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PNFP. Robert W. Baird assumed coverage on Pinnacle Financial Partners in a research note on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 price objective on the stock. Stephens boosted their target price on Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Barclays dropped their price target on Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. JPMorgan Chase & Co. reduced their price objective on shares of Pinnacle Financial Partners from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Finally, Truist Financial increased their price objective on shares of Pinnacle Financial Partners from $114.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.88.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.