2,025 Shares in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Acquired by Kraft Asset Management LLC

Kraft Asset Management LLC purchased a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,025 shares of the financial services provider’s stock, valued at approximately $243,000.

Several other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Pinnacle Financial Partners in the 3rd quarter valued at $30,000. UMB Bank n.a. lifted its stake in shares of Pinnacle Financial Partners by 83.4% in the 3rd quarter. UMB Bank n.a. now owns 497 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 226 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Pinnacle Financial Partners in the 3rd quarter valued at $49,000. Quarry LP lifted its stake in shares of Pinnacle Financial Partners by 3,500.0% in the 2nd quarter. Quarry LP now owns 756 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 735 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in Pinnacle Financial Partners during the 3rd quarter valued at about $70,000. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Trading Up 1.5 %

NASDAQ:PNFP opened at $122.04 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $119.40 and its two-hundred day moving average is $104.77. Pinnacle Financial Partners, Inc. has a 52 week low of $73.62 and a 52 week high of $131.91. The company has a market cap of $9.43 billion, a PE ratio of 20.41 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. The business had revenue of $475.34 million for the quarter, compared to analysts’ expectations of $470,334.57 billion. Pinnacle Financial Partners had a return on equity of 9.12% and a net margin of 15.48%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. On average, analysts predict that Pinnacle Financial Partners, Inc. will post 7.56 EPS for the current year.

Pinnacle Financial Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 7th will be given a $0.24 dividend. This is a boost from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 0.79%. The ex-dividend date is Friday, February 7th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 14.72%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PNFP. Barclays upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $120.00 to $135.00 in a research note on Thursday, December 19th. Wells Fargo & Company lifted their price target on Pinnacle Financial Partners from $104.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Citigroup lifted their price target on Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. JPMorgan Chase & Co. cut their price target on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Stephens reaffirmed an “overweight” rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Pinnacle Financial Partners presently has an average rating of “Hold” and a consensus target price of $124.73.

Insider Activity at Pinnacle Financial Partners

In other news, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $124.09, for a total transaction of $6,204,500.00. Following the completion of the sale, the chairman now directly owns 123,000 shares of the company’s stock, valued at $15,263,070. This trade represents a 28.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Harold R. Carpenter sold 3,051 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $125.57, for a total value of $383,114.07. Following the sale, the chief financial officer now directly owns 60,805 shares of the company’s stock, valued at approximately $7,635,283.85. This represents a 4.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,661 shares of company stock worth $9,563,127 in the last three months. 1.87% of the stock is owned by company insiders.

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.