Curran Financial Partners LLC Has $207,000 Stock Position in Pinnacle Financial Partners, Inc. $PNFP

Curran Financial Partners LLC cut its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 9.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,874 shares of the financial services provider’s stock after selling 205 shares during the period. Curran Financial Partners LLC’s holdings in Pinnacle Financial Partners were worth $207,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Pinnacle Financial Partners by 51.7% during the first quarter. GAMMA Investing LLC now owns 1,616 shares of the financial services provider’s stock worth $171,000 after buying an additional 551 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Pinnacle Financial Partners during the first quarter worth $850,000. Golden State Wealth Management LLC acquired a new position in shares of Pinnacle Financial Partners during the first quarter worth $48,000. M&T Bank Corp increased its holdings in shares of Pinnacle Financial Partners by 9.0% during the first quarter. M&T Bank Corp now owns 8,187 shares of the financial services provider’s stock worth $868,000 after buying an additional 674 shares in the last quarter. Finally, Trexquant Investment LP increased its holdings in shares of Pinnacle Financial Partners by 27.4% during the first quarter. Trexquant Investment LP now owns 23,183 shares of the financial services provider’s stock worth $2,458,000 after buying an additional 4,989 shares in the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, Director G Kennedy Thompson purchased 10,000 shares of the business’s stock in a transaction on Friday, August 1st. The shares were acquired at an average price of $85.65 per share, with a total value of $856,500.00. Following the completion of the transaction, the director owned 28,372 shares of the company’s stock, valued at $2,430,061.80. The trade was a 54.43% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Harold R. Carpenter acquired 1,000 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were bought at an average price of $89.73 per share, for a total transaction of $89,730.00. Following the acquisition, the chief financial officer directly owned 105,050 shares of the company’s stock, valued at approximately $9,426,136.50. This trade represents a 0.96% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 12,174 shares of company stock valued at $1,047,079. 1.46% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PNFP. Keefe, Bruyette & Woods lowered their price target on shares of Pinnacle Financial Partners from $125.00 to $95.00 and set a “market perform” rating for the company in a report on Wednesday, August 13th. Cowen assumed coverage on shares of Pinnacle Financial Partners in a research note on Wednesday, September 24th. They issued a “buy” rating on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Pinnacle Financial Partners in a research note on Saturday, September 27th. TD Cowen assumed coverage on shares of Pinnacle Financial Partners in a research note on Thursday, September 25th. They issued a “buy” rating and a $122.00 price objective on the stock. Finally, Hovde Group cut shares of Pinnacle Financial Partners from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $112.45.

Pinnacle Financial Partners Stock Performance

Shares of PNFP opened at $93.36 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $7.24 billion, a P/E ratio of 12.38 and a beta of 1.02. The firm’s fifty day simple moving average is $94.14 and its two-hundred day simple moving average is $101.62. Pinnacle Financial Partners, Inc. has a 12 month low of $81.57 and a 12 month high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The business had revenue of $504.99 million for the quarter, compared to analysts’ expectations of $495.27 million. Pinnacle Financial Partners had a net margin of 18.69% and a return on equity of 9.60%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 earnings per share. As a group, analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. Pinnacle Financial Partners’s dividend payout ratio is 12.73%.

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.