Woodmont Investment Counsel LLC Has $10.68 Million Stake in Pinnacle Financial Partners, Inc. $PNFP

Woodmont Investment Counsel LLC lifted its position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,910 shares of the company’s stock after purchasing an additional 17,522 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Pinnacle Financial Partners were worth $10,677,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Pinnacle Financial Partners by 97.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 47,073 shares of the company’s stock valued at $4,327,000 after purchasing an additional 23,292 shares in the last quarter. Voya Investment Management LLC raised its stake in Pinnacle Financial Partners by 146.1% during the third quarter. Voya Investment Management LLC now owns 25,183 shares of the company’s stock worth $2,362,000 after acquiring an additional 14,951 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Pinnacle Financial Partners by 585.5% during the third quarter. Jones Financial Companies Lllp now owns 18,419 shares of the company’s stock worth $1,768,000 after acquiring an additional 15,732 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in Pinnacle Financial Partners during the third quarter worth $1,128,000. Finally, Reliant Investment Management LLC acquired a new position in Pinnacle Financial Partners during the third quarter worth $5,479,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. TD Cowen reiterated a “buy” rating on shares of Pinnacle Financial Partners in a research note on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft set a $116.00 price objective on Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Wall Street Zen upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Friday, April 3rd. Truist Financial set a $100.00 target price on Pinnacle Financial Partners in a research note on Friday, January 9th. Finally, Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $112.18.

Pinnacle Financial Partners Trading Up 3.4%

Shares of PNFP stock opened at $91.33 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $7.08 billion, a P/E ratio of 11.29, a PEG ratio of 0.40 and a beta of 1.00. Pinnacle Financial Partners, Inc. has a 12 month low of $81.08 and a 12 month high of $120.46.

Pinnacle Financial Partners Dividend Announcement

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

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were acquired at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the acquisition, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at approximately $4,677,322.20. This trade represents a 2.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.46% of the stock is owned by company insiders.

About Pinnacle Financial Partners

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.