7,650 Shares in Pinnacle Financial Partners, Inc. $PNFP Purchased by Wedmont Private Capital

Wedmont Private Capital purchased a new position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,650 shares of the company’s stock, valued at approximately $732,000.

A number of other institutional investors also recently bought and sold shares of the business. Sagespring Wealth Partners LLC raised its position in Pinnacle Financial Partners by 7.2% during the fourth quarter. Sagespring Wealth Partners LLC now owns 17,105 shares of the company’s stock valued at $1,632,000 after acquiring an additional 1,151 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in Pinnacle Financial Partners by 984.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 165,120 shares of the company’s stock worth $15,487,000 after purchasing an additional 149,895 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in Pinnacle Financial Partners in the 3rd quarter worth approximately $1,128,000. Allworth Financial LP grew its stake in shares of Pinnacle Financial Partners by 684.3% during the 3rd quarter. Allworth Financial LP now owns 2,102 shares of the company’s stock worth $197,000 after purchasing an additional 1,834 shares during the period. Finally, Swiss Life Asset Management Ltd increased its holdings in shares of Pinnacle Financial Partners by 80.6% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 3,609 shares of the company’s stock valued at $338,000 after purchasing an additional 1,611 shares in the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pinnacle Financial Partners

In related news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were acquired at an average cost of $94.52 per share, with a total value of $94,520.00. Following the completion of the acquisition, the chief financial officer directly owned 49,485 shares in the company, valued at approximately $4,677,322.20. This trade represents a 2.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.46% of the stock is currently owned by insiders.

Pinnacle Financial Partners Trading Up 0.9%

Shares of NYSE:PNFP opened at $83.96 on Tuesday. Pinnacle Financial Partners, Inc. has a 1 year low of $81.08 and a 1 year high of $120.46. The company has a market cap of $6.51 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 0.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89.

Pinnacle Financial Partners Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were given a dividend of $0.50 per share. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is currently 24.72%.

Analyst Upgrades and Downgrades

PNFP has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Weiss Ratings began coverage on shares of Pinnacle Financial Partners in a research report on Monday, March 9th. They set a “hold (c+)” rating on the stock. DA Davidson started coverage on shares of Pinnacle Financial Partners in a report on Monday, January 5th. They issued a “neutral” rating and a $110.00 price objective for the company. Bank of America began coverage on shares of Pinnacle Financial Partners in a research report on Monday, December 8th. They issued a “buy” rating and a $113.00 price objective for the company. Finally, Truist Financial set a $100.00 target price on Pinnacle Financial Partners in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.41.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.