Pinnacle Financial Partners (NASDAQ:PNFP) CEO M Terry Turner sold 47,174 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.96, for a total transaction of $2,687,031.04. Following the completion of the transaction, the chief executive officer now directly owns 365,197 shares in the company, valued at $20,801,621.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NASDAQ:PNFP traded up $0.94 during trading hours on Friday, reaching $57.95. The company’s stock had a trading volume of 386,078 shares, compared to its average volume of 420,945. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 0.75 and a beta of 1.43. Pinnacle Financial Partners has a one year low of $43.23 and a one year high of $64.85. The business’s 50-day moving average is $54.96 and its 200-day moving average is $56.21. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.99.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.14. The firm had revenue of $259.60 million during the quarter, compared to analysts’ expectations of $252.44 million. Pinnacle Financial Partners had a net margin of 30.46% and a return on equity of 9.82%. Pinnacle Financial Partners’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.15 earnings per share. On average, sell-side analysts predict that Pinnacle Financial Partners will post 5.3 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Thursday, August 1st. Pinnacle Financial Partners’s dividend payout ratio is presently 13.50%.

A number of hedge funds have recently added to or reduced their stakes in PNFP. Shell Asset Management Co. acquired a new position in shares of Pinnacle Financial Partners during the first quarter valued at about $579,000. Salzhauer Michael raised its position in Pinnacle Financial Partners by 40.1% in the first quarter. Salzhauer Michael now owns 53,548 shares of the financial services provider’s stock worth $2,929,000 after purchasing an additional 15,321 shares in the last quarter. Aperio Group LLC raised its position in Pinnacle Financial Partners by 8.1% in the second quarter. Aperio Group LLC now owns 16,002 shares of the financial services provider’s stock worth $920,000 after purchasing an additional 1,201 shares in the last quarter. Sustainable Insight Capital Management LLC acquired a new position in Pinnacle Financial Partners in the first quarter worth about $744,000. Finally, Strs Ohio raised its position in Pinnacle Financial Partners by 0.7% in the second quarter. Strs Ohio now owns 66,112 shares of the financial services provider’s stock worth $3,800,000 after purchasing an additional 444 shares in the last quarter. Institutional investors own 79.76% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research note on Friday. Stephens reiterated a “hold” rating and issued a $63.00 price objective on shares of Pinnacle Financial Partners in a report on Thursday, July 18th. Finally, BidaskClub upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $61.33.

About Pinnacle Financial Partners

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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