Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) Sees Significant Drop in Short Interest

Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP – Get Rating) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 1,600 shares, a decline of 50.0% from the April 30th total of 3,200 shares. Based on an average trading volume of 23,700 shares, the days-to-cover ratio is presently 0.1 days.

Pinnacle Financial Partners Stock Performance

PNFPP traded down $0.31 during trading on Friday, hitting $21.38. The stock had a trading volume of 9,932 shares, compared to its average volume of 17,412. The company has a 50 day moving average price of $22.63 and a 200-day moving average price of $24.11. Pinnacle Financial Partners has a one year low of $19.37 and a one year high of $27.27.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Wednesday, May 17th will be paid a $0.422 dividend. The ex-dividend date of this dividend is Tuesday, May 16th. This represents a $1.69 annualized dividend and a yield of 7.90%.

Pinnacle Financial Partners Company Profile

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Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the 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, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts.