Pinnacle Financial Partners, Inc. $PNFP Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 104.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,988 shares of the company’s stock after acquiring an additional 31,094 shares during the period. Hsbc Holdings PLC’s holdings in Pinnacle Financial Partners were worth $6,154,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PNFP. Resources Management Corp CT ADV purchased a new position in Pinnacle Financial Partners in the first quarter valued at about $26,000. Brown Brothers Harriman & Co. purchased a new position in Pinnacle Financial Partners in the 3rd quarter valued at approximately $26,000. BOKF NA raised its holdings in Pinnacle Financial Partners by 1,204.5% during the third quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Pinnacle Financial Partners by 97.7% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 350 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in Pinnacle Financial Partners by 175.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 339 shares of the company’s stock worth $32,000 after purchasing an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PNFP shares. Citigroup raised their price target on Pinnacle Financial Partners from $122.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. dropped their target price on shares of Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, July 24th. Wells Fargo & Company upped their price target on shares of Pinnacle Financial Partners from $111.00 to $118.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Benchmark increased their price target on shares of Pinnacle Financial Partners from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Robert W. Baird initiated coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Pinnacle Financial Partners has a consensus rating of “Moderate Buy” and a consensus target price of $119.39.

Insider Transactions at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CEO Kevin Blair acquired 2,565 shares of the stock in a transaction dated Tuesday, September 1st. The stock was acquired at an average price of $97.48 per share, with a total value of $250,036.20. Following the completion of the transaction, the chief executive officer directly owned 152,397 shares in the company, valued at approximately $14,855,659.56. This trade represents a 1.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert McCabe, Jr. bought 10,013 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was acquired at an average price of $99.90 per share, with a total value of $1,000,298.70. Following the completion of the purchase, the insider directly owned 324,233 shares of the company’s stock, valued at approximately $32,390,876.70. The trade was a 3.19% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 177,228 shares of company stock worth $19,153,713 over the last quarter. 1.30% of the stock is currently owned by insiders.

Pinnacle Financial Partners Trading Down 1.5%

Pinnacle Financial Partners stock opened at $99.15 on Thursday. The stock has a market cap of $7.69 billion, a PE ratio of 13.62, a PEG ratio of 0.40 and a beta of 1.01. The stock’s 50-day moving average is $102.29. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $110.33. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73.

Pinnacle Financial Partners (NYSE:PNFP) last released its earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. On average, equities analysts predict that Pinnacle Financial Partners, Inc. will post 10.19 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 7th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 7th. Pinnacle Financial Partners’s dividend payout ratio is currently 27.47%.

Pinnacle Financial Partners 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.