Teachers Advisors LLC raised its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 12.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,133 shares of the financial services provider’s stock after acquiring an additional 11,477 shares during the period. Teachers Advisors LLC owned approximately 0.20% of Pinnacle Financial Partners worth $6,540,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Kennedy Capital Management Inc. raised its stake in Pinnacle Financial Partners by 116.8% during the 2nd quarter. Kennedy Capital Management Inc. now owns 298,196 shares of the financial services provider’s stock valued at $18,727,000 after acquiring an additional 160,671 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Pinnacle Financial Partners in the 1st quarter worth $372,000. Utah Retirement Systems bought a new stake in shares of Pinnacle Financial Partners in the 2nd quarter worth $834,000. Bank of New York Mellon Corp raised its stake in shares of Pinnacle Financial Partners by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,060,209 shares of the financial services provider’s stock worth $66,581,000 after buying an additional 4,877 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Pinnacle Financial Partners by 270.5% in the 1st quarter. Sei Investments Co. now owns 2,638 shares of the financial services provider’s stock worth $176,000 after buying an additional 1,926 shares in the last quarter. 69.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pinnacle Financial Partners, Inc. (PNFP) opened at 67.25 on Friday. The company has a market cap of $5.17 billion, a P/E ratio of 21.60 and a beta of 1.31. The stock has a 50 day moving average price of $63.13 and a 200-day moving average price of $63.39. Pinnacle Financial Partners, Inc. has a 1-year low of $49.40 and a 1-year high of $71.85.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.04. Pinnacle Financial Partners had a return on equity of 7.67% and a net margin of 27.36%. The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $130.23 million. During the same quarter in the prior year, the business earned $0.75 EPS. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year. Analysts predict that Pinnacle Financial Partners, Inc. will post $3.47 earnings per share for the current fiscal year.

In other Pinnacle Financial Partners news, CEO M Terry Turner sold 101,480 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $64.82, for a total transaction of $6,577,933.60. Following the transaction, the chief executive officer now owns 538,441 shares of the company’s stock, valued at approximately $34,901,745.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $66.02, for a total value of $198,060.00. Following the transaction, the insider now directly owns 64,794 shares in the company, valued at approximately $4,277,699.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,480 shares of company stock worth $7,150,574. Company insiders own 5.41% of the company’s stock.

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A number of analysts have recently commented on the company. Piper Jaffray Companies reissued an “overweight” rating and issued a $72.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday. SunTrust Banks, Inc. reissued a “buy” rating and issued a $73.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday. BidaskClub downgraded Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Hilliard Lyons raised Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Wednesday, August 23rd. Finally, Stephens reissued a “hold” rating and issued a $71.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Pinnacle Financial Partners has an average rating of “Hold” and a consensus price target of $68.40.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

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Institutional Ownership by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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