Pinnacle Financial Partners (PNFP) Shares Sold by Patten & Patten Inc. TN
Patten & Patten Inc. TN lowered its position in Pinnacle Financial Partners (NASDAQ:PNFP) by 7.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 39,394 shares of the financial services provider’s stock after selling 3,280 shares during the quarter. Patten & Patten Inc. TN’s holdings in Pinnacle Financial Partners were worth $2,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in shares of Pinnacle Financial Partners by 7.8% in the second quarter. Wells Fargo & Company MN now owns 307,772 shares of the financial services provider’s stock worth $19,329,000 after acquiring an additional 22,181 shares during the period. Suntrust Banks Inc. bought a new stake in shares of Pinnacle Financial Partners in the second quarter worth $556,000. ETRADE Capital Management LLC grew its holdings in shares of Pinnacle Financial Partners by 49.9% in the third quarter. ETRADE Capital Management LLC now owns 23,048 shares of the financial services provider’s stock worth $1,543,000 after acquiring an additional 7,668 shares during the period. Maple Capital Management Inc. bought a new stake in shares of Pinnacle Financial Partners in the third quarter worth $624,000. Finally, Pacer Advisors Inc. bought a new stake in shares of Pinnacle Financial Partners in the third quarter worth $829,000. 71.46% of the stock is owned by institutional investors.
In other news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $65.96, for a total value of $197,880.00. Following the transaction, the insider now directly owns 52,794 shares in the company, valued at $3,482,292.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas R. Sloan sold 15,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $65.97, for a total value of $989,550.00. Following the completion of the transaction, the director now owns 108,257 shares in the company, valued at $7,141,714.29. The disclosure for this sale can be found here. Insiders have sold 52,171 shares of company stock valued at $3,480,916 in the last three months. 5.41% of the stock is currently owned by corporate insiders.
Shares of Pinnacle Financial Partners (NASDAQ PNFP) opened at $64.00 on Tuesday. Pinnacle Financial Partners has a fifty-two week low of $58.40 and a fifty-two week high of $71.55. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $4,975.34, a PE ratio of 22.86, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Pinnacle Financial Partners had a return on equity of 7.24% and a net margin of 22.27%. The business had revenue of $211.20 million during the quarter, compared to analyst estimates of $224.62 million. During the same quarter in the previous year, the company posted $0.83 earnings per share. Pinnacle Financial Partners’s revenue for the quarter was down 2.3% on a year-over-year basis. equities research analysts expect that Pinnacle Financial Partners will post 4.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 2nd will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, February 1st. Pinnacle Financial Partners’s dividend payout ratio is presently 20.00%.
About Pinnacle Financial Partners
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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