2 weeks Ago By ABMN Staff
Bank of Montreal Can boosted its position in Pinnacle Financial Partners, Inc. ( NASDAQ:PNFP – Free Report ) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission.
The firm owned 9,910 shares of the financial services provider’s stock after purchasing an additional 1,005 shares during the period. Bank of Montreal Can’s holdings in Pinnacle Financial Partners were worth $1,134,000 as of its most recent filing with the Securities & Exchange Commission. Other institutional investors also recently added to or reduced their stakes in the company.
UMB Bank n.a. lifted its holdings in shares of Pinnacle Financial Partners by 48.
1% in the 4th quarter. UMB Bank n.a.
now owns 736 shares of the financial services provider’s stock valued at $84,000 after buying an additional 239 shares during the period. Principal Securities Inc. lifted its holdings in Pinnacle Financial Partners by 12.
7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 91 shares during the period.
Trust Co. of Vermont acquired a new stake in Pinnacle Financial Partners in the fourth quarter valued at $97,000. Values First Advisors Inc.
boosted its position in shares of Pinnacle Financial Partners by 189.9% during the 4th quarter. Values First Advisors Inc.
now owns 1,458 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 955 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Pinnacle Financial Partners by 20.
6% in the 4th quarter. Blue Trust Inc. now owns 1,586 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 271 shares in the last quarter.
Hedge funds and other institutional investors own 87.40% of the company’s stock. Pinnacle Financial Partners Stock Up 0.
4 % PNFP opened at $95.11 on Friday. The firm has a market cap of $7.
36 billion, a P/E ratio of 15.90 and a beta of 0.94.
The business’s fifty day simple moving average is $104.70 and its 200 day simple moving average is $111.76.
Pinnacle Financial Partners, Inc. has a 52 week low of $73.62 and a 52 week high of $131.
91. The company has a quick ratio of 0.90, a current ratio of 0.
90 and a debt-to-equity ratio of 0.37. Pinnacle Financial Partners Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th.
Shareholders of record on Friday, May 2nd will be issued a $0.24 dividend. The ex-dividend date is Friday, May 2nd.
This represents a $0.96 annualized dividend and a yield of 1.01%.
Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 15.53%. Analyst Upgrades and Downgrades PNFP has been the topic of a number of research analyst reports.
Hovde Group raised shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating and set a $111.00 price objective on the stock in a report on Wednesday. Stephens reissued an “overweight” rating and set a $142.
00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Citigroup raised their price objective on Pinnacle Financial Partners from $123.00 to $132.
00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. Keefe, Bruyette & Woods decreased their target price on Pinnacle Financial Partners from $130.00 to $115.
00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on Pinnacle Financial Partners from $125.
00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock.
According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.50.
Read Our Latest Report on PNFP Insiders Place Their Bets In other news, Chairman Robert A. Mccabe, Jr. sold 40,000 shares of the company’s stock in a transaction dated Monday, February 24th.
The shares were sold at an average price of $113.81, for a total transaction of $4,552,400.00.
Following the completion of the transaction, the chairman now owns 83,000 shares of the company’s stock, valued at $9,446,230. This represents a 32.52 % decrease in their position.
The transaction was disclosed in a legal filing with the SEC, which is available through this link . Also, Director David B. Ingram sold 10,309 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th.
The stock was sold at an average price of $126.00, for a total transaction of $1,298,934.00.
Following the completion of the sale, the director now directly owns 82,256 shares in the company, valued at $10,364,256. This represents a 11.14 % decrease in their ownership of the stock.
The disclosure for this sale can be found here . Insiders have sold a total of 95,350 shares of company stock valued at $11,421,320 in the last quarter. 1.
46% of the stock is currently owned by company insiders. Pinnacle Financial Partners Profile ( Free Report ) 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.
Read More Want to see what other hedge funds are holding PNFP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle Financial Partners, Inc. ( NASDAQ:PNFP – Free Report ).
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