Mediolanum International Funds Ltd Takes $3.63 Million Position in Pinnacle Financial Partners, Inc. $PNFP

Mediolanum International Funds Ltd purchased a new position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 43,448 shares of the company’s stock, valued at approximately $3,634,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in shares of Pinnacle Financial Partners by 6.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock valued at $69,060,000 after buying an additional 37,989 shares during the period. Focus Partners Wealth increased its stake in shares of Pinnacle Financial Partners by 13.9% in the first quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock worth $504,000 after acquiring an additional 581 shares during the last quarter. Amundi increased its stake in shares of Pinnacle Financial Partners by 25,700.0% in the second quarter. Amundi now owns 4,386 shares of the company’s stock worth $513,000 after acquiring an additional 4,369 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Pinnacle Financial Partners during the second quarter worth $229,000. Finally, Cerity Partners LLC raised its holdings in shares of Pinnacle Financial Partners by 4.2% during the second quarter. Cerity Partners LLC now owns 26,061 shares of the company’s stock worth $2,877,000 after acquiring an additional 1,039 shares in the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings raised Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Evercore reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Pinnacle Financial Partners in a research report on Monday, July 6th. Stephens raised their price target on Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. UBS Group boosted their price target on Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Piper Sandler restated an “overweight” rating on shares of Pinnacle Financial Partners in a report on Wednesday, June 10th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and a consensus price target of $116.89.

Pinnacle Financial Partners Price Performance

Shares of NYSE:PNFP opened at $99.49 on Tuesday. The firm has a market capitalization of $7.72 billion, a PE ratio of 13.80, a P/E/G ratio of 0.40 and a beta of 1.04. The business has a 50-day moving average of $97.58. Pinnacle Financial Partners, Inc. has a fifty-two week low of $81.08 and a fifty-two week high of $119.68. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.09. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%.The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. As a group, research analysts expect that Pinnacle Financial Partners, Inc. will post 10.18 EPS for the current fiscal year.

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.