Pinnacle Financial Partners (NYSE:PNFP) Insider Allan Kamensky Sells 5,000 Shares of Company Stock

Pinnacle Financial Partners, Inc. (NYSE:PNFP) insider Allan Kamensky sold 5,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $104.62, for a total value of $523,100.00. Following the completion of the sale, the insider owned 43,940 shares in the company, valued at approximately $4,597,002.80. The trade was a 10.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Pinnacle Financial Partners Price Performance

Shares of PNFP stock opened at $102.98 on Wednesday. Pinnacle Financial Partners, Inc. has a 52-week low of $81.08 and a 52-week high of $110.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $7.99 billion, a P/E ratio of 10.62, a P/E/G ratio of 0.40 and a beta of 1.04. The stock has a 50 day moving average price of $97.60 and a 200 day moving average price of $96.88.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.62 by $0.07. Pinnacle Financial Partners had a return on equity of 11.33% and a net margin of 15.97%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. As a group, sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 10.25 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 6th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 6th. Pinnacle Financial Partners’s payout ratio is currently 26.70%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PNFP shares. Piper Sandler raised their price target on shares of Pinnacle Financial Partners from $125.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, October 26th. UBS Group boosted their price objective on shares of Pinnacle Financial Partners from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, October 27th. Evercore reissued an “outperform” rating on shares of Pinnacle Financial Partners in a research report on Tuesday, October 27th. Weiss Ratings downgraded shares of Pinnacle Financial Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 29th. Finally, Robert W. Baird raised their target price on shares of Pinnacle Financial Partners from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle Financial Partners has a consensus rating of “Moderate Buy” and an average target price of $120.15.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Resources Management Corp CT ADV purchased a new position in Pinnacle Financial Partners in the 1st quarter worth $26,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Pinnacle Financial Partners during the 3rd quarter valued at about $32,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in Pinnacle Financial Partners by 97.7% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 350 shares of the company’s stock valued at $30,000 after purchasing an additional 173 shares during the last quarter. Basecamp Wealth Advisors LLC increased its holdings in shares of Pinnacle Financial Partners by 112.2% in the first quarter. Basecamp Wealth Advisors LLC now owns 399 shares of the company’s stock valued at $34,000 after purchasing an additional 211 shares during the period. Finally, Leonteq Securities AG acquired a new position in shares of Pinnacle Financial Partners in the first quarter valued at about $38,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc is a bank holding company headquartered in Nashville, Tennessee. Through its primary subsidiary, Pinnacle Bank, the company provides banking and financial services to businesses, professionals, entrepreneurs and individuals.

Its offerings include commercial and consumer loans, deposit accounts, treasury and cash-management services, mortgage lending, investment and wealth-management services, trust services and insurance solutions. Pinnacle emphasizes relationship-based banking and serves clients through offices and financial professionals in Tennessee and selected markets in the Carolinas and Virginia.

Founded in 2000, Pinnacle has expanded from its Nashville base into a broader regional banking franchise through organic growth and acquisitions.