North Reef Capital Management LP Takes Position in Pinnacle Financial Partners, Inc. $PNFP

North Reef Capital Management LP bought a new stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 100,935 shares of the company’s stock, valued at approximately $8,695,000.

Other institutional investors have also added to or reduced their stakes in the company. Yousif Capital Management LLC boosted its stake in Pinnacle Financial Partners by 92.4% during the fourth quarter. Yousif Capital Management LLC now owns 46,456 shares of the company’s stock worth $4,519,000 after buying an additional 22,306 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Pinnacle Financial Partners by 122.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,188 shares of the company’s stock valued at $1,544,000 after buying an additional 8,927 shares during the period. M&T Bank Corp lifted its holdings in shares of Pinnacle Financial Partners by 283.3% during the 4th quarter. M&T Bank Corp now owns 27,583 shares of the company’s stock worth $2,632,000 after acquiring an additional 20,386 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Pinnacle Financial Partners by 96.2% during the 4th 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 in the last quarter. Finally, Impax Asset Management Group plc boosted its position in shares of Pinnacle Financial Partners by 21.0% during the 4th quarter. Impax Asset Management Group plc now owns 421,413 shares of the company’s stock valued at $41,298,000 after acquiring an additional 73,176 shares in the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.

Pinnacle Financial Partners Price Performance

NYSE:PNFP opened at $102.53 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.90. The company’s 50-day simple moving average is $97.90. Pinnacle Financial Partners, Inc. has a fifty-two week low of $81.08 and a fifty-two week high of $107.00. The company has a market cap of $7.95 billion, a PE ratio of 14.08, a PEG ratio of 0.41 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP) last posted its earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%. On average, research analysts expect that Pinnacle Financial Partners, Inc. will post 10.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PNFP shares. Evercore reissued an “outperform” rating and issued a $120.00 target price on shares of Pinnacle Financial Partners in a research note on Monday, July 6th. Robert W. Baird started coverage on Pinnacle Financial Partners in a report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price objective on the stock. Barclays lowered their price objective 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. Citigroup increased their target price on Pinnacle Financial Partners from $122.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Finally, Benchmark decreased their price target on Pinnacle Financial Partners from $132.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $116.65.

Pinnacle Financial Partners 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.