Harbor Advisors LLC acquired a new stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP – Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 12,000 shares of the company’s stock, valued at approximately $1,034,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in shares of Pinnacle Financial Partners by 1,697.4% in the third quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company’s stock worth $306,474,000 after acquiring an additional 3,085,867 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pinnacle Financial Partners by 80.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,035,295 shares of the company’s stock valued at $433,712,000 after purchasing an additional 2,244,659 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of Pinnacle Financial Partners during the 3rd quarter valued at $187,822,000. Alyeska Investment Group L.P. bought a new stake in shares of Pinnacle Financial Partners during the 4th quarter valued at $159,545,000. Finally, Norges Bank purchased a new stake in Pinnacle Financial Partners during the 4th quarter worth about $116,349,000. Institutional investors own 87.40% of the company’s stock.
Pinnacle Financial Partners Price Performance
PNFP stock opened at $100.94 on Monday. The business has a 50 day moving average of $97.53. The stock has a market cap of $7.83 billion, a PE ratio of 14.00, a PEG ratio of 0.40 and a beta of 1.04. Pinnacle Financial Partners, Inc. has a one year low of $81.08 and a one year high of $119.85. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42.
Wall Street Analyst Weigh In
PNFP has been the subject of several analyst reports. Piper Sandler restated an “overweight” rating on shares of Pinnacle Financial Partners in a research note on Wednesday, June 10th. Evercore reissued an “outperform” rating and issued a $120.00 price target on shares of Pinnacle Financial Partners in a report on Monday, July 6th. Stephens raised their price objective on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. TD Cowen reduced their price objective on shares of Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Finally, Benchmark started coverage on shares of Pinnacle Financial Partners in a report on Wednesday, June 24th. They set a “buy” rating and a $132.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.89.
Check Out Our Latest Research Report on Pinnacle Financial Partners
Pinnacle Financial Partners Company 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.
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