Pinnacle Financial Partners, Inc. (NYSE:PNFP – Get Free Report) insider M Terry Turner sold 53,601 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $108.10, for a total transaction of $5,794,268.10. Following the transaction, the insider owned 369,013 shares in the company, valued at approximately $39,890,305.30. The trade was a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
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 stock was sold at an average price of $108.13, for a total transaction of $5,850,589.91.
- On Friday, August 14th, M Terry Turner sold 66,783 shares of Pinnacle Financial Partners stock. The stock was sold at an average price of $108.01, for a total transaction of $7,213,231.83.
- 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 transaction of $295,623.37.
Pinnacle Financial Partners Stock Performance
Shares of PNFP stock opened at $101.76 on Thursday. The firm has a 50 day simple moving average of $101.35. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73. Pinnacle Financial Partners, Inc. has a 52-week low of $81.08 and a 52-week high of $110.33. The company has a market capitalization of $7.89 billion, a PE ratio of 13.98, a PEG ratio of 0.42 and a beta of 1.03.
Pinnacle Financial Partners Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 7th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 7th. Pinnacle Financial Partners’s dividend payout ratio is currently 27.47%.
Institutional Investors Weigh In On Pinnacle Financial Partners
Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its holdings in shares of Pinnacle Financial Partners by 6.2% during the first quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock worth $69,060,000 after acquiring an additional 37,989 shares during the period. Focus Partners Wealth boosted its stake in Pinnacle Financial Partners by 13.9% in the 1st quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock worth $504,000 after purchasing an additional 581 shares during the period. Amundi boosted its stake in Pinnacle Financial Partners by 25,700.0% in the 2nd quarter. Amundi now owns 4,386 shares of the company’s stock worth $513,000 after purchasing an additional 4,369 shares during the period. Jump Financial LLC bought a new position in Pinnacle Financial Partners during the 2nd quarter worth about $229,000. Finally, Cerity Partners LLC increased its holdings in Pinnacle Financial Partners by 4.2% during the 2nd quarter. Cerity Partners LLC now owns 26,061 shares of the company’s stock worth $2,877,000 after purchasing an additional 1,039 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.
Analyst Upgrades and Downgrades
PNFP has been the subject of several analyst reports. Robert W. Baird began coverage on Pinnacle Financial Partners in a research report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 target price for the company. UBS Group lifted their price objective on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Evercore restated an “outperform” rating and set a $120.00 price objective on shares of Pinnacle Financial Partners in a report on Monday, July 6th. JPMorgan Chase & Co. cut their target price on shares of Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, July 24th. Finally, TD Cowen lifted their price target on shares of Pinnacle Financial Partners from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $118.35.
Read Our Latest Stock Analysis on Pinnacle Financial Partners
About Pinnacle Financial Partners
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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