Pinnacle Financial Partners, Inc. (NYSE:PNFP - Get Free Report) insider M Terry Turner sold 53,601 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $108.10, for a total transaction of $5,794,268.10. Following the sale, the insider directly owned 369,013 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
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 shares were 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 shares were 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 value of $295,623.37.
Pinnacle Financial Partners Stock Performance
Shares of PNFP opened at $107.40 on Tuesday. 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 business's 50 day moving average is $100.99. The company has a market cap of $8.33 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 0.43 and a beta of 1.03. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $110.33.
Pinnacle Financial Partners (NYSE:PNFP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%.The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. On average, equities analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 7th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 1.9%. Pinnacle Financial Partners's dividend payout ratio is 27.47%.
Institutional Investors Weigh In On Pinnacle Financial Partners
Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in Pinnacle Financial Partners by 6.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company's stock valued at $69,060,000 after acquiring an additional 37,989 shares during the period. Focus Partners Wealth lifted its holdings in shares of Pinnacle Financial Partners by 13.9% in the first quarter. Focus Partners Wealth now owns 4,755 shares of the company's stock worth $504,000 after buying an additional 581 shares in the last quarter. Amundi boosted its holdings in Pinnacle Financial Partners by 25,700.0% in the 2nd quarter. Amundi now owns 4,386 shares of the company's stock valued at $513,000 after purchasing an additional 4,369 shares during the period. Jump Financial LLC bought a new stake in Pinnacle Financial Partners during the second quarter valued at $229,000. Finally, Cerity Partners LLC boosted its position in shares of Pinnacle Financial Partners by 4.2% during the 2nd quarter. Cerity Partners LLC now owns 26,061 shares of the company's stock valued at $2,877,000 after acquiring an additional 1,039 shares during the last quarter. Hedge funds and other institutional investors own 87.40% of the company's stock.
Analyst Ratings Changes
Several equities analysts have weighed in on PNFP shares. Evercore restated an "outperform" rating and set a $120.00 price objective on shares of Pinnacle Financial Partners in a research note on Monday, July 6th. Wells Fargo & Company upped their target price on shares of Pinnacle Financial Partners from $111.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. DA Davidson increased their target price on shares of Pinnacle Financial Partners from $109.00 to $112.00 and gave the company a "neutral" rating in a report on Friday, July 24th. TD Cowen raised their price target on shares of Pinnacle Financial Partners from $116.00 to $119.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Finally, Robert W. Baird began coverage on shares of Pinnacle Financial Partners in a report on Tuesday, May 19th. They set an "outperform" rating and a $115.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Pinnacle Financial Partners currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.35.
View Our Latest Analysis on Pinnacle Financial Partners
Pinnacle Financial Partners Company Profile
(
Get Free Report)
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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