Trust Co. of Vermont Makes New Investment in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Trust Co. of Vermont bought a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 850 shares of the financial services provider’s stock, valued at approximately $97,000.

A number of other institutional investors have also made changes to their positions in PNFP. Victory Capital Management Inc. increased its position in Pinnacle Financial Partners by 17.9% in the 3rd quarter. Victory Capital Management Inc. now owns 186,612 shares of the financial services provider’s stock valued at $18,282,000 after acquiring an additional 28,327 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Pinnacle Financial Partners in the third quarter valued at approximately $3,606,000. Geode Capital Management LLC increased its holdings in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 worth $90,141,000 after purchasing an additional 9,856 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in 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 buying an additional 208,938 shares in the last quarter. 87.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PNFP. Barclays upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $120.00 to $135.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $135.00 target price (up from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th. Hovde Group cut shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price target for the company. in a research report on Monday, November 18th. Citigroup boosted their price target on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. Finally, Stephens raised 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 note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $122.73.

Pinnacle Financial Partners Price Performance

Shares of PNFP stock opened at $119.91 on Monday. The firm has a market capitalization of $9.26 billion, a price-to-earnings ratio of 22.80 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a 12-month low of $73.62 and a 12-month 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 0.42. The firm has a fifty day moving average of $119.66 and a 200-day moving average of $104.18.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 3,051 shares of Pinnacle Financial Partners stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $125.57, for a total value of $383,114.07. Following the transaction, the chief financial officer now owns 60,805 shares of the company’s stock, valued at approximately $7,635,283.85. The trade was a 4.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David B. Ingram sold 3,610 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $126.07, for a total transaction of $455,112.70. Following the sale, the director now directly owns 139,489 shares of the company’s stock, valued at $17,585,378.23. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,661 shares of company stock valued at $9,563,127. Company insiders own 1.87% of the company’s stock.

About Pinnacle Financial Partners

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.