Pinnacle Financial Partners, Inc. (NYSE:PNFP – Get Free Report) insider M Terry Turner sold 66,783 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $108.01, for a total value of $7,213,231.83. Following the completion of the transaction, the insider owned 302,230 shares in the company, valued at $32,643,862.30. This represents a 18.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
M Terry Turner also recently made the following trade(s):
- On Monday, August 17th, M Terry Turner sold 54,107 shares of Pinnacle Financial Partners stock. The shares were sold at an average price of $108.13, for a total value of $5,850,589.91.
- On Thursday, August 13th, M Terry Turner sold 53,601 shares of Pinnacle Financial Partners stock. The shares were sold at an average price of $108.10, for a total value of $5,794,268.10.
- On Thursday, August 6th, M Terry Turner sold 2,737 shares of Pinnacle Financial Partners stock. The shares were sold at an average price of $108.01, for a total value of $295,623.37.
Pinnacle Financial Partners Stock Down 0.6%
NYSE:PNFP traded down $0.61 during trading hours on Monday, hitting $107.40. 773,098 shares of the company traded hands, compared to its average volume of 1,444,139. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market cap of $8.33 billion, a P/E ratio of 14.75, a PEG ratio of 0.43 and a beta of 1.03. The business’s 50-day simple moving average is $100.77. Pinnacle Financial Partners, Inc. has a one year low of $81.08 and a one year high of $110.33.
Pinnacle Financial Partners Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 7th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 1.9%. Pinnacle Financial Partners’s payout ratio is 27.47%.
Hedge Funds Weigh In On Pinnacle Financial Partners
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNFP. Resources Management Corp CT ADV bought a new stake in shares of Pinnacle Financial Partners in the first quarter valued at approximately $26,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Pinnacle Financial Partners during the 3rd quarter valued at approximately $26,000. High Point Wealth Management LLC bought a new position in Pinnacle Financial Partners in the 4th quarter worth approximately $27,000. BOKF NA boosted its holdings in Pinnacle Financial Partners by 1,204.5% in the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after buying an additional 265 shares during the period. Finally, Activest Wealth Management purchased a new position in Pinnacle Financial Partners in the 4th quarter valued at approximately $28,000. Institutional investors own 87.40% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on PNFP. Piper Sandler increased their price objective on shares of Pinnacle Financial Partners from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Stephens set a $112.00 target price on Pinnacle Financial Partners in a research note on Monday, July 27th. JPMorgan Chase & Co. reduced their target price on Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, July 24th. UBS Group increased their price target on Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, DA Davidson boosted their price objective on Pinnacle Financial Partners from $109.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.35.
Check Out Our Latest 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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