Investors Asset Management of Georgia Inc. GA ADV Invests $1.12 Million in Pinnacle Financial Partners, Inc. $PNFP

Investors Asset Management of Georgia Inc. GA ADV purchased a new position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the first quarter, Holdings Channel reports. The firm purchased 13,063 shares of the company’s stock, valued at approximately $1,125,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNFP. Yousif Capital Management LLC raised its position in shares of Pinnacle Financial Partners by 92.4% in the 4th quarter. Yousif Capital Management LLC now owns 46,456 shares of the company’s stock valued at $4,519,000 after buying an additional 22,306 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Pinnacle Financial Partners by 122.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,188 shares of the company’s stock worth $1,544,000 after acquiring an additional 8,927 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Pinnacle Financial Partners during the 3rd quarter worth approximately $1,128,000. Private Management Group Inc. increased its stake in Pinnacle Financial Partners by 96.4% in the third quarter. Private Management Group Inc. now owns 245,160 shares of the company’s stock valued at $22,994,000 after acquiring an additional 120,311 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Pinnacle Financial Partners by 96.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 92,374 shares of the company’s stock valued at $9,032,000 after acquiring an additional 45,301 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Down 0.1%

NYSE PNFP opened at $99.40 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. Pinnacle Financial Partners, Inc. has a twelve month low of $81.08 and a twelve month high of $120.46. The firm has a market cap of $7.71 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 0.38 and a beta of 1.04. The firm’s fifty day moving average price is $97.13.

Pinnacle Financial Partners (NYSE:PNFP) last issued its earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, research analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.23 earnings per share for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The company also recently declared 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. This represents a $2.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, May 1st. Pinnacle Financial Partners’s payout ratio is 27.74%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Piper Sandler reaffirmed an “overweight” rating on shares of Pinnacle Financial Partners in a report on Wednesday, June 10th. Barclays decreased 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. Evercore reissued an “outperform” rating and set a $115.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, April 29th. Finally, Robert W. Baird started coverage on Pinnacle Financial Partners in a research report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $116.61.

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.