Atria Investments Inc Sells 235 Shares of Pinnacle Financial Partners, Inc. $PNFP

Atria Investments Inc decreased its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 0.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 57,942 shares of the financial services provider’s stock after selling 235 shares during the period. Atria Investments Inc owned about 0.07% of Pinnacle Financial Partners worth $6,397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Retirement Systems of Alabama grew its holdings in shares of Pinnacle Financial Partners by 0.4% in the second quarter. Retirement Systems of Alabama now owns 230,937 shares of the financial services provider’s stock worth $25,498,000 after purchasing an additional 814 shares during the last quarter. Assetmark Inc. boosted its holdings in Pinnacle Financial Partners by 10.1% in the second quarter. Assetmark Inc. now owns 1,741 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 160 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in Pinnacle Financial Partners by 51.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 12,883 shares of the financial services provider’s stock valued at $1,422,000 after acquiring an additional 4,401 shares in the last quarter. Jennison Associates LLC boosted its holdings in Pinnacle Financial Partners by 6.7% in the second quarter. Jennison Associates LLC now owns 686,744 shares of the financial services provider’s stock valued at $75,823,000 after acquiring an additional 43,162 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Pinnacle Financial Partners by 2.3% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 10,492 shares of the financial services provider’s stock valued at $1,158,000 after acquiring an additional 238 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

Insider Transactions at Pinnacle Financial Partners

In other news, Director G Kennedy Thompson purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were bought at an average price of $87.63 per share, for a total transaction of $438,150.00. Following the purchase, the director directly owned 33,372 shares in the company, valued at approximately $2,924,388.36. This trade represents a 17.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.46% of the stock is currently owned by insiders.

Pinnacle Financial Partners Stock Performance

Shares of Pinnacle Financial Partners stock opened at $85.21 on Friday. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 10.83 and a beta of 1.02. The firm’s 50-day moving average is $92.99 and its 200 day moving average is $100.10. Pinnacle Financial Partners, Inc. has a 1 year low of $81.57 and a 1 year high of $131.91. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.22. The company had revenue of $544.80 million for the quarter, compared to analysts’ expectations of $526.40 million. Pinnacle Financial Partners had a net margin of 19.17% and a return on equity of 9.91%. During the same quarter in the previous year, the business posted $1.86 EPS. Sell-side analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 7th will be paid a $0.24 dividend. The ex-dividend date is Friday, November 7th. This represents a $0.96 dividend on an annualized basis and a yield of 1.1%. Pinnacle Financial Partners’s payout ratio is presently 12.20%.

Analyst Ratings Changes

Several research firms recently weighed in on PNFP. Stephens cut their price target on shares of Pinnacle Financial Partners from $104.00 to $97.00 and set an “equal weight” rating on the stock in a report on Friday, October 17th. Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 price target (down previously from $145.00) on shares of Pinnacle Financial Partners in a report on Friday, July 25th. Citigroup dropped their target price on shares of Pinnacle Financial Partners from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, July 25th. Hovde Group cut shares of Pinnacle Financial Partners from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $110.27.

Pinnacle Financial Partners Company Profile

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.