Handelsbanken Fonder AB raised its stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP – Free Report) by 27.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 235,281 shares of the company’s stock after purchasing an additional 50,000 shares during the period. Handelsbanken Fonder AB owned 0.30% of Pinnacle Financial Partners worth $23,735,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Resources Management Corp CT ADV acquired a new stake in Pinnacle Financial Partners during the first quarter valued at approximately $26,000. Brown Brothers Harriman & Co. bought a new position in shares of Pinnacle Financial Partners during the third quarter valued at approximately $26,000. High Point Wealth Management LLC bought a new position in Pinnacle Financial Partners during the 4th quarter worth $27,000. BOKF NA grew its position in shares of Pinnacle Financial Partners by 1,204.5% during the third quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after acquiring an additional 265 shares during the last quarter. Finally, Activest Wealth Management acquired a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at approximately $28,000. Institutional investors own 87.40% of the company’s stock.
Insider Buying and Selling at Pinnacle Financial Partners
In other news, insider M Terry Turner sold 2,737 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $108.01, for a total transaction of $295,623.37. Following the completion of the sale, the insider directly owned 422,614 shares of the company’s stock, valued at $45,646,538.14. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert A. Mccabe, Jr. bought 10,013 shares of Pinnacle Financial Partners stock in a transaction dated Friday, July 24th. The shares were bought at an average cost of $99.90 per share, with a total value of $1,000,298.70. Following the completion of the acquisition, the insider owned 324,233 shares of the company’s stock, 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. Company insiders own 1.30% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Research Report on PNFP
Pinnacle Financial Partners Price Performance
NYSE PNFP opened at $106.66 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a 50 day simple moving average of $100.32. Pinnacle Financial Partners, Inc. has a 12 month low of $81.08 and a 12 month high of $110.33. The company has a market cap 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.
Pinnacle Financial Partners (NYSE:PNFP – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. On average, analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.19 earnings per share for the current year.
Pinnacle Financial Partners Announces Dividend
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 paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 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.
Read More
- Five stocks we like better than Pinnacle Financial Partners
- GE Vernova’s AI Power Boom Faces a Profit Test
- Cardinal Health Earnings: Can Perfection Get Priced In Twice?
- Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand
- Legacy Jet Builders Stall While Embraer Accelerates to New Highs
Receive News & Ratings for Pinnacle Financial Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners and related companies with MarketBeat.com's FREE daily email newsletter.
