Pinnacle Financial Partners (NYSE:PNFP) Insider Allan Kamensky Sells 5,000 Shares of Stock

Pinnacle Financial Partners, Inc. (NYSE:PNFP – Get Free Report) insider Allan Kamensky sold 5,000 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $104.62, for a total value of $523,100.00. Following the transaction, the insider directly owned 43,940 shares in the company, valued at $4,597,002.80. This represents a 10.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Pinnacle Financial Partners Stock Performance

PNFP traded down $1.34 during trading hours on Tuesday, hitting $102.98. The stock had a trading volume of 1,471,648 shares, compared to its average volume of 1,349,323. The company’s fifty day simple moving average is $97.57 and its 200 day simple moving average is $96.84. Pinnacle Financial Partners, Inc. has a 1 year low of $81.08 and a 1 year high of $110.33. The stock has a market cap of $7.99 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.38 and a beta of 1.03. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.73.

Pinnacle Financial Partners (NYSE:PNFP – Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.07. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Pinnacle Financial Partners had a return on equity of 11.33% and a net margin of 15.97%. Equities analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.25 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 6th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. Pinnacle Financial Partners’s payout ratio is 26.70%.

Wall Street Analyst Weigh In

Several research firms recently commented on PNFP. Evercore reaffirmed an “outperform” rating on shares of Pinnacle Financial Partners in a report on Tuesday, October 27th. Hovde Group began coverage on shares of Pinnacle Financial Partners in a report on Wednesday, September 16th. They set an “outperform” rating and a $125.00 target price on the stock. UBS Group increased their target price on Pinnacle Financial Partners from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. Weiss Ratings lowered Pinnacle Financial Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday. Finally, Morgan Stanley increased their price objective on Pinnacle Financial Partners from $139.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.15.

Get Our Latest Analysis on Pinnacle Financial Partners

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PNFP. Pictet Asset Management Holding SA raised its position in shares of Pinnacle Financial Partners by 6.0% in the third quarter. Pictet Asset Management Holding SA now owns 73,538 shares of the company’s stock worth $6,883,000 after buying an additional 4,178 shares in the last quarter. Alps Advisors Inc. bought a new stake in Pinnacle Financial Partners during the third quarter valued at $543,000. Ashton Thomas Private Wealth LLC grew its position in Pinnacle Financial Partners by 28.3% during the third quarter. Ashton Thomas Private Wealth LLC now owns 10,769 shares of the company’s stock worth $1,008,000 after buying an additional 2,374 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Pinnacle Financial Partners by 3.5% during the third quarter. Commonwealth Equity Services LLC now owns 9,250 shares of the company’s stock worth $866,000 after buying an additional 316 shares in the last quarter. Finally, Covestor Ltd grew its position in Pinnacle Financial Partners by 434.4% during the third quarter. Covestor Ltd now owns 978 shares of the company’s stock worth $91,000 after buying an additional 795 shares in the last quarter. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

About Pinnacle Financial Partners

(Get Free Report)

Pinnacle Financial Partners, Inc is a bank holding company headquartered in Nashville, Tennessee. Through its primary subsidiary, Pinnacle Bank, the company provides banking and financial services to businesses, professionals, entrepreneurs and individuals.

Its offerings include commercial and consumer loans, deposit accounts, treasury and cash-management services, mortgage lending, investment and wealth-management services, trust services and insurance solutions. Pinnacle emphasizes relationship-based banking and serves clients through offices and financial professionals in Tennessee and selected markets in the Carolinas and Virginia.

Founded in 2000, Pinnacle has expanded from its Nashville base into a broader regional banking franchise through organic growth and acquisitions.

See Also

Insider Buying and Selling by Quarter for Pinnacle Financial Partners (NYSE:PNFP)

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.