Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) Short Interest Down 22.9% in September

Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 6,400 shares, a decrease of 22.9% from the August 31st total of 8,300 shares. Based on an average daily volume of 16,900 shares, the days-to-cover ratio is currently 0.4 days.

Pinnacle Financial Partners Stock Up 0.2 %

Shares of NASDAQ:PNFPP traded up $0.04 during trading on Friday, reaching $24.50. The stock had a trading volume of 39,176 shares, compared to its average volume of 14,364. The firm’s 50-day simple moving average is $24.12 and its 200 day simple moving average is $23.74. Pinnacle Financial Partners has a one year low of $20.50 and a one year high of $24.81.

Pinnacle Financial Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Saturday, August 17th were given a dividend of $0.422 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date of this dividend was Friday, August 16th.

Institutional Trading of Pinnacle Financial Partners

A hedge fund recently bought a new stake in Pinnacle Financial Partners stock. Thompson Investment Management Inc. bought a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,000 shares of the company’s stock, valued at approximately $47,000.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.