Pinnacle Financial Partners, Inc. (PNFP) Vice Chairman Sells $181,350.00 in Stock
Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $60.45, for a total transaction of $181,350.00. Following the transaction, the insider now owns 61,794 shares in the company, valued at approximately $3,735,447.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) opened at 61.85 on Friday. The company has a market capitalization of $4.76 billion, a PE ratio of 19.87 and a beta of 1.27. Pinnacle Financial Partners, Inc. has a 12-month low of $49.40 and a 12-month high of $71.85. The stock has a 50 day moving average of $62.98 and a 200-day moving average of $64.45.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, July 18th. The financial services provider reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.04. Pinnacle Financial Partners had a return on equity of 7.67% and a net margin of 27.36%. The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $130.23 million. During the same period in the prior year, the business posted $0.75 earnings per share. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. Equities analysts expect that Pinnacle Financial Partners, Inc. will post $3.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 4th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $0.56 annualized dividend and a yield of 0.91%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 18.01%.
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PNFP has been the topic of a number of analyst reports. BidaskClub upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Stephens reiterated a “hold” rating and set a $71.00 price objective on shares of Pinnacle Financial Partners in a research report on Thursday, July 20th. Finally, Hilliard Lyons upgraded shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $65.60.
A number of institutional investors have recently added to or reduced their stakes in PNFP. Creative Planning acquired a new position in Pinnacle Financial Partners during the first quarter valued at $107,000. Bank of Montreal Can increased its position in Pinnacle Financial Partners by 6.7% in the first quarter. Bank of Montreal Can now owns 3,368 shares of the financial services provider’s stock worth $224,000 after buying an additional 211 shares during the period. Louisiana State Employees Retirement System increased its position in Pinnacle Financial Partners by 9.8% in the first quarter. Louisiana State Employees Retirement System now owns 19,100 shares of the financial services provider’s stock worth $1,269,000 after buying an additional 1,700 shares during the period. State of Alaska Department of Revenue increased its position in Pinnacle Financial Partners by 10.0% in the first quarter. State of Alaska Department of Revenue now owns 5,190 shares of the financial services provider’s stock worth $344,000 after buying an additional 470 shares during the period. Finally, Glen Harbor Capital Management LLC increased its position in Pinnacle Financial Partners by 6.8% in the first quarter. Glen Harbor Capital Management LLC now owns 1,716 shares of the financial services provider’s stock worth $114,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 77.76% of the company’s stock.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.
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