Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Shares Sold by Duncan Williams Asset Management LLC

Duncan Williams Asset Management LLC lessened its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 3.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,443 shares of the financial services provider’s stock after selling 385 shares during the period. Duncan Williams Asset Management LLC’s holdings in Pinnacle Financial Partners were worth $1,423,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Pinnacle Financial Partners by 11.6% during the 3rd quarter. FMR LLC now owns 2,716,416 shares of the financial services provider’s stock valued at $266,127,000 after buying an additional 282,016 shares during the period. Geode Capital Management LLC raised its position in Pinnacle Financial Partners by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,328,564 shares of the financial services provider’s stock valued at $130,192,000 after purchasing an additional 8,604 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Pinnacle Financial Partners by 20.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,015,033 shares of the financial services provider’s stock valued at $99,443,000 after purchasing an additional 172,750 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Pinnacle Financial Partners by 27.0% during the 3rd quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider’s stock worth $96,332,000 after purchasing an additional 208,938 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Pinnacle Financial Partners by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 920,088 shares of the financial services provider’s stock valued at $90,141,000 after buying an additional 9,856 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PNFP shares. Wells Fargo & Company boosted their price target on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday. Stephens restated an “overweight” rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday. UBS Group started coverage on Pinnacle Financial Partners in a research note on Tuesday, December 17th. They set a “neutral” rating and a $133.00 target price on the stock. Citigroup lifted their target price on Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. Finally, Hovde Group lowered shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price objective for the company. in a research note on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $125.18.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $124.09, for a total transaction of $6,204,500.00. Following the transaction, the chairman now owns 123,000 shares of the company’s stock, valued at approximately $15,263,070. This trade represents a 28.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David B. Ingram sold 20,000 shares of Pinnacle Financial Partners stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $126.02, for a total value of $2,520,400.00. Following the sale, the director now owns 92,565 shares in the company, valued at $11,665,041.30. This trade represents a 17.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,661 shares of company stock valued at $9,563,127. 1.87% of the stock is owned by corporate insiders.

Pinnacle Financial Partners Trading Up 0.8 %

Shares of NASDAQ:PNFP opened at $123.28 on Friday. The company has a market cap of $9.52 billion, a PE ratio of 20.62 and a beta of 1.09. The company’s 50 day moving average is $119.31 and its two-hundred day moving average is $105.53. Pinnacle Financial Partners, Inc. has a 52 week low of $73.62 and a 52 week high of $131.91. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The company had revenue of $475.34 million during the quarter, compared to the consensus estimate of $470,334.57 billion. During the same period in the previous year, the business earned $1.68 EPS. Pinnacle Financial Partners’s revenue for the quarter was up 19.9% on a year-over-year basis. Equities analysts predict that Pinnacle Financial Partners, Inc. will post 7.56 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 7th will be paid a $0.24 dividend. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, February 7th. Pinnacle Financial Partners’s dividend payout ratio is currently 14.72%.

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.