King Luther Capital Management Corp trimmed its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 34.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,960 shares of the financial services provider’s stock after selling 43,480 shares during the quarter. King Luther Capital Management Corp owned approximately 0.10% of Pinnacle Financial Partners worth $5,420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Alps Advisors Inc. boosted its holdings in shares of Pinnacle Financial Partners by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,121 shares of the financial services provider’s stock worth $447,000 after buying an additional 19 shares during the period. M&T Bank Corp lifted its position in shares of Pinnacle Financial Partners by 5.3% in the second quarter. M&T Bank Corp now owns 3,799 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 191 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Pinnacle Financial Partners by 2.7% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,854 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 209 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Pinnacle Financial Partners by 3.9% in the second quarter. HighTower Advisors LLC now owns 5,820 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 220 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in shares of Pinnacle Financial Partners by 14.5% in the second quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 291 shares in the last quarter. Institutional investors own 71.79% of the company’s stock.

A number of research firms have recently issued reports on PNFP. Piper Jaffray Companies set a $76.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research report on Thursday, November 30th. Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Wednesday, August 23rd. Zacks Investment Research raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Finally, SunTrust Banks reissued a “buy” rating and issued a $73.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $73.75.

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) opened at $67.05 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.57. The stock has a market cap of $5,362.88, a P/E ratio of 20.29, a PEG ratio of 1.62 and a beta of 1.31. Pinnacle Financial Partners, Inc. has a 52-week low of $58.40 and a 52-week high of $71.85.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $216.20 million during the quarter, compared to analyst estimates of $217.13 million. Pinnacle Financial Partners had a net margin of 27.41% and a return on equity of 7.36%. The firm’s revenue was up 102.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. research analysts anticipate that Pinnacle Financial Partners, Inc. will post 3.56 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 3rd were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.84%. The ex-dividend date was Thursday, November 2nd. Pinnacle Financial Partners’s payout ratio is presently 17.34%.

In related news, CFO Harold R. Carpenter sold 17,711 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $67.45, for a total transaction of $1,194,606.95. Following the transaction, the chief financial officer now owns 107,090 shares of the company’s stock, valued at $7,223,220.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Richard D. Callicutt II sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $67.44, for a total transaction of $2,023,200.00. Following the transaction, the chairman now directly owns 168,241 shares in the company, valued at approximately $11,346,173.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,711 shares of company stock worth $4,483,257. Insiders own 5.41% of the company’s stock.

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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.

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

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