Mason Street Advisors LLC grew its position in shares of Pinnacle Financial Partners (NASDAQ:PNFP) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,756 shares of the financial services provider’s stock after purchasing an additional 405 shares during the period. Mason Street Advisors LLC’s holdings in Pinnacle Financial Partners were worth $2,120,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Pinnacle Financial Partners by 3.3% during the fourth quarter. BlackRock Inc. now owns 6,727,103 shares of the financial services provider’s stock valued at $310,120,000 after purchasing an additional 214,958 shares in the last quarter. Vanguard Group Inc grew its position in shares of Pinnacle Financial Partners by 2.2% during the third quarter. Vanguard Group Inc now owns 6,520,182 shares of the financial services provider’s stock valued at $392,188,000 after purchasing an additional 142,700 shares in the last quarter. Ceredex Value Advisors LLC grew its position in shares of Pinnacle Financial Partners by 13.6% during the fourth quarter. Ceredex Value Advisors LLC now owns 1,796,600 shares of the financial services provider’s stock valued at $82,823,000 after purchasing an additional 215,400 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Pinnacle Financial Partners by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,586,418 shares of the financial services provider’s stock valued at $73,135,000 after purchasing an additional 82,699 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Pinnacle Financial Partners by 0.7% during the first quarter. Victory Capital Management Inc. now owns 1,545,122 shares of the financial services provider’s stock valued at $84,518,000 after purchasing an additional 11,085 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Stephens restated a “buy” rating and set a $65.00 price objective on shares of Pinnacle Financial Partners in a research report on Tuesday, April 16th. BidaskClub lowered Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Raymond James set a $66.00 price objective on Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, TheStreet upgraded Pinnacle Financial Partners from a “c+” rating to a “b-” rating in a research report on Wednesday, February 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $64.14.

In related news, Chairman Richard D. Callicutt II sold 4,035 shares of Pinnacle Financial Partners stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $59.01, for a total value of $238,105.35. Following the completion of the transaction, the chairman now owns 129,269 shares in the company, valued at $7,628,163.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 1,600 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $56.74, for a total value of $90,784.00. Following the completion of the transaction, the insider now owns 24,253 shares of the company’s stock, valued at approximately $1,376,115.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,223 shares of company stock valued at $2,808,137. 2.97% of the stock is currently owned by company insiders.

PNFP opened at $54.26 on Friday. The stock has a market capitalization of $4.18 billion, a P/E ratio of 11.45, a P/E/G ratio of 0.79 and a beta of 1.39. Pinnacle Financial Partners has a 12 month low of $43.23 and a 12 month high of $68.35. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.03. The company had revenue of $238.30 million during the quarter, compared to analyst estimates of $246.03 million. Pinnacle Financial Partners had a return on equity of 9.53% and a net margin of 30.80%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $1.13 earnings per share. Analysts anticipate that Pinnacle Financial Partners will post 5.1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be given a $0.16 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.64 annualized dividend and a yield of 1.18%. Pinnacle Financial Partners’s dividend payout ratio is currently 13.50%.

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Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.

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Institutional Ownership by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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