Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Shares Sold by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC decreased its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 8.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,315 shares of the financial services provider’s stock after selling 13,150 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Pinnacle Financial Partners were worth $15,822,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PNFP. Norges Bank purchased a new stake in Pinnacle Financial Partners in the fourth quarter valued at approximately $101,798,000. Raymond James Financial Inc. purchased a new stake in shares of Pinnacle Financial Partners during the 4th quarter valued at $44,737,000. FMR LLC grew its stake in shares of Pinnacle Financial Partners by 10.6% during the 4th quarter. FMR LLC now owns 3,003,310 shares of the financial services provider’s stock valued at $343,549,000 after buying an additional 286,894 shares during the period. Wellington Management Group LLP raised its position in shares of Pinnacle Financial Partners by 16.5% in the 4th quarter. Wellington Management Group LLP now owns 1,504,254 shares of the financial services provider’s stock worth $172,072,000 after buying an additional 213,505 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Pinnacle Financial Partners by 27.0% in the 3rd quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider’s stock worth $96,332,000 after buying an additional 208,938 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Analyst Ratings Changes

PNFP has been the subject of a number of research reports. Stephens reissued an “overweight” rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday, January 22nd. Citigroup increased their target price on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. UBS Group started coverage on shares of Pinnacle Financial Partners in a research report on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price target on the stock. Hovde Group decreased their price objective on shares of Pinnacle Financial Partners from $135.00 to $120.00 and set a “market perform” rating for the company in a research note on Wednesday, April 2nd. Finally, Barclays cut their target price on shares of Pinnacle Financial Partners from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $124.70.

Insider Buying and Selling

In other Pinnacle Financial Partners news, Director Glenda Baskin Glover sold 3,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $101.55, for a total transaction of $304,650.00. Following the sale, the director now directly owns 9,943 shares in the company, valued at $1,009,711.65. The trade was a 23.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Ingram sold 10,309 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.00, for a total value of $1,298,934.00. Following the transaction, the director now owns 82,256 shares of the company’s stock, valued at approximately $10,364,256. This trade represents a 11.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,350 shares of company stock worth $11,421,320. 1.46% of the stock is currently owned by corporate insiders.

Pinnacle Financial Partners Trading Up 2.3 %

PNFP opened at $94.36 on Wednesday. The firm’s 50 day moving average is $106.39 and its 200-day moving average is $111.89. Pinnacle Financial Partners, Inc. has a 52-week low of $73.62 and a 52-week high of $131.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $7.30 billion, a P/E ratio of 15.78 and a beta of 0.94.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Monday, April 14th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.08. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The business had revenue of $475.37 million during the quarter, compared to analyst estimates of $478.11 million. During the same period last year, the business earned $1.53 EPS. Analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 2nd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.02%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 16.05%.

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.