Pinnacle Financial Partners, Inc. Plans Dividend of $0.50 (NASDAQ:PNFP)

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) announced a dividend on Monday, January 26th. Shareholders of record on Friday, February 6th will be given a dividend of 0.50 per share by the financial services provider on Friday, February 27th. The ex-dividend date of this dividend is Friday, February 6th.

Pinnacle Financial Partners has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Pinnacle Financial Partners has a dividend payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pinnacle Financial Partners to earn $8.99 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 10.7%.

Pinnacle Financial Partners Stock Down 1.2%

Shares of Pinnacle Financial Partners stock opened at $95.86 on Tuesday. The firm’s 50 day moving average price is $96.48 and its 200-day moving average price is $94.96. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. Pinnacle Financial Partners has a 52-week low of $81.57 and a 52-week high of $127.85. The company has a market cap of $7.44 billion, a P/E ratio of 12.18, a PEG ratio of 0.48 and a beta of 1.02.

Insider Buying and Selling

In related news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total value of $630,075.00. Following the sale, the chairman owned 202,505 shares in the company, valued at $18,832,965. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinnacle Financial Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in shares of Pinnacle Financial Partners by 1,697.4% in the third quarter. AQR Capital Management LLC now owns 3,267,666 shares of the financial services provider’s stock worth $306,474,000 after acquiring an additional 3,085,867 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Pinnacle Financial Partners by 6.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,680,171 shares of the financial services provider’s stock valued at $251,376,000 after purchasing an additional 163,269 shares during the last quarter. Wellington Management Group LLP grew its position in Pinnacle Financial Partners by 51.1% during the 3rd quarter. Wellington Management Group LLP now owns 2,156,749 shares of the financial services provider’s stock worth $202,281,000 after purchasing an additional 728,975 shares during the period. Nomura Holdings Inc. purchased a new position in shares of Pinnacle Financial Partners during the 3rd quarter valued at about $187,822,000. Finally, Fenimore Asset Management Inc raised its stake in shares of Pinnacle Financial Partners by 2.2% during the 2nd quarter. Fenimore Asset Management Inc now owns 1,076,968 shares of the financial services provider’s stock valued at $118,908,000 after buying an additional 23,552 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.