Infrastructure Capital Advisors LLC Invests $202,000 in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Infrastructure Capital Advisors LLC acquired a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,065 shares of the financial services provider’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Northwest & Ethical Investments L.P. purchased a new position in Pinnacle Financial Partners during the third quarter valued at approximately $137,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Pinnacle Financial Partners by 0.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,132 shares of the financial services provider’s stock valued at $19,607,000 after purchasing an additional 1,290 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Pinnacle Financial Partners by 7.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,364 shares of the financial services provider’s stock valued at $1,603,000 after purchasing an additional 1,102 shares in the last quarter. De Lisle Partners LLP purchased a new position in Pinnacle Financial Partners during the third quarter valued at approximately $575,000. Finally, Glenmede Trust Co. NA purchased a new position in Pinnacle Financial Partners during the third quarter valued at approximately $215,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PNFP has been the topic of a number of research analyst reports. Stephens boosted their price objective on shares of Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Hovde Group downgraded shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price objective on the stock. in a research report on Monday, November 18th. Citigroup boosted their target price on shares of Pinnacle Financial Partners from $113.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company boosted their target price on shares of Pinnacle Financial Partners from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Truist Financial boosted their target price on shares of Pinnacle Financial Partners from $113.00 to $119.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Pinnacle Financial Partners presently has an average rating of “Hold” and an average price target of $108.70.

Pinnacle Financial Partners Price Performance

Shares of Pinnacle Financial Partners stock opened at $127.25 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. Pinnacle Financial Partners, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $131.91. The firm has a fifty day moving average price of $108.40 and a two-hundred day moving average price of $94.10. The company has a market cap of $9.83 billion, a PE ratio of 24.19 and a beta of 1.04.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.07. Pinnacle Financial Partners had a net margin of 13.97% and a return on equity of 8.89%. The firm had revenue of $810.11 million during the quarter, compared to the consensus estimate of $454.18 million. During the same period in the prior year, the firm earned $1.79 EPS. Analysts expect that Pinnacle Financial Partners, Inc. will post 6.8 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, November 1st. Pinnacle Financial Partners’s payout ratio is 16.73%.

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.