NewEdge Advisors LLC increased its position in Pinnacle Financial Partners, Inc. (NYSE:PNFP – Free Report) by 145.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,848 shares of the company’s stock after acquiring an additional 28,334 shares during the quarter. NewEdge Advisors LLC’s holdings in Pinnacle Financial Partners were worth $4,122,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in Pinnacle Financial Partners by 122.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,188 shares of the company’s stock valued at $1,544,000 after buying an additional 8,927 shares in the last quarter. M&T Bank Corp grew its holdings in Pinnacle Financial Partners by 283.3% during the 4th quarter. M&T Bank Corp now owns 27,583 shares of the company’s stock valued at $2,632,000 after buying an additional 20,386 shares during the last quarter. Impax Asset Management Group plc increased its position in Pinnacle Financial Partners by 21.0% during the fourth quarter. Impax Asset Management Group plc now owns 421,413 shares of the company’s stock worth $41,298,000 after buying an additional 73,176 shares in the last quarter. Anchor Investment Management LLC purchased a new position in Pinnacle Financial Partners during the first quarter worth $1,156,000. Finally, Harbor Advisors LLC acquired a new position in shares of Pinnacle Financial Partners in the first quarter worth $1,034,000. Institutional investors and hedge funds own 87.40% of the company’s stock.
Insider Activity at Pinnacle Financial Partners
In other Pinnacle Financial Partners news, insider M Terry Turner sold 2,737 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $108.01, for a total transaction of $295,623.37. Following the transaction, the insider owned 422,614 shares of the company’s stock, valued at $45,646,538.14. This trade represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert A. Mccabe, Jr. purchased 10,013 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was bought at an average price of $99.90 per share, for a total transaction of $1,000,298.70. Following the acquisition, the insider owned 324,233 shares in the company, valued at $32,390,876.70. The trade was a 3.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.30% of the stock is currently owned by company insiders.
Analyst Ratings Changes
View Our Latest Research Report on PNFP
Pinnacle Financial Partners Stock Up 0.9%
Shares of NYSE:PNFP opened at $106.66 on Thursday. The stock has a market capitalization of $8.27 billion, a P/E ratio of 14.65, a P/E/G ratio of 0.42 and a beta of 1.03. The firm has a fifty day simple moving average of $100.32. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $110.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 0.94.
Pinnacle Financial Partners (NYSE:PNFP – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%.The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 10.19 earnings per share for the current fiscal year.
Pinnacle Financial Partners Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 7th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, August 7th. Pinnacle Financial Partners’s dividend payout ratio is presently 27.47%.
Pinnacle Financial Partners 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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