Pinnacle Financial Partners, Inc. $PNFP Shares Acquired by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL boosted its stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 984.5% in the third quarter, Holdings Channel.com reports. The firm owned 165,120 shares of the company’s stock after acquiring an additional 149,895 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Pinnacle Financial Partners were worth $15,487,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hudson Bay Capital Management LP purchased a new stake in shares of Pinnacle Financial Partners during the 3rd quarter valued at $1,128,000. Allworth Financial LP raised its position in shares of Pinnacle Financial Partners by 684.3% in the 3rd quarter. Allworth Financial LP now owns 2,102 shares of the company’s stock worth $197,000 after buying an additional 1,834 shares during the period. Swiss Life Asset Management Ltd boosted its holdings in Pinnacle Financial Partners by 80.6% in the third quarter. Swiss Life Asset Management Ltd now owns 3,609 shares of the company’s stock valued at $338,000 after acquiring an additional 1,611 shares during the last quarter. Caerus Investment Advisors LLC acquired a new position in Pinnacle Financial Partners in the third quarter valued at $675,000. Finally, Sunbelt Securities Inc. purchased a new stake in Pinnacle Financial Partners during the third quarter valued at about $357,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Analyst Ratings Changes

PNFP has been the subject of several research analyst reports. Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a research note on Monday, January 5th. Citigroup lifted their price objective on Pinnacle Financial Partners from $118.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Truist Financial set a $100.00 target price on shares of Pinnacle Financial Partners in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft set a $116.00 price target on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Pinnacle Financial Partners from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.24.

Insider Buying and Selling

In related news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, February 12th. The shares were purchased at an average cost of $94.52 per share, with a total value of $94,520.00. Following the transaction, the chief financial officer owned 49,485 shares of the company’s stock, valued at approximately $4,677,322.20. The trade was a 2.06% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Price Performance

NYSE:PNFP opened at $87.57 on Friday. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 0.40 and a beta of 1.00. Pinnacle Financial Partners, Inc. has a 12 month low of $81.08 and a 12 month high of $120.46. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89.

Pinnacle Financial Partners Announces Dividend

The business also recently announced a dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 6th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 24.72%.

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.