M Terry Turner Sells 72,000 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Stock

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) CEO M Terry Turner sold 72,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $80.97, for a total value of $5,829,840.00. Following the completion of the transaction, the chief executive officer now owns 222,790 shares in the company, valued at $18,039,306.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

M Terry Turner also recently made the following trade(s):

• On Tuesday, March 12th, M Terry Turner sold 24,057 shares of Pinnacle Financial Partners stock. The stock was sold at an average price of $82.22, for a total value of $1,977,966.54.

Pinnacle Financial Partners Trading Down 1.2 %

PNFP traded down $0.93 on Monday, hitting $79.36. The company had a trading volume of 407,621 shares, compared to its average volume of 466,787. The company has a market cap of $6.12 billion, a PE ratio of 11.35 and a beta of 1.08. Pinnacle Financial Partners, Inc. has a 12-month low of $43.31 and a 12-month high of $92.33. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $82.20 and its 200 day simple moving average is $79.45.

Pinnacle Financial Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.88 annualized dividend and a dividend yield of 1.11%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 12.59%.

Analyst Upgrades and Downgrades

PNFP has been the topic of a number of recent research reports. Jefferies Financial Group decreased their target price on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a report on Monday, April 8th. JPMorgan Chase & Co. decreased their price target on Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. UBS Group decreased their price target on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, January 18th. Hovde Group decreased their price target on Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating on the stock in a report on Tuesday, April 23rd. Finally, Stephens reissued an “overweight” rating and set a $109.00 price target on shares of Pinnacle Financial Partners in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.50.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Rise Advisors LLC purchased a new stake in shares of Pinnacle Financial Partners in the first quarter valued at approximately $26,000. Emerald Advisers LLC bought a new position in Pinnacle Financial Partners in the third quarter worth approximately $27,000. Fifth Third Bancorp raised its stake in Pinnacle Financial Partners by 101.4% in the third quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock worth $28,000 after buying an additional 213 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in Pinnacle Financial Partners in the fourth quarter worth approximately $32,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in Pinnacle Financial Partners by 57.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

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.