Pinnacle Financial Partners, Inc. $PNFP Shares Purchased by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL increased its holdings in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 984.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 165,120 shares of the company’s stock after purchasing an additional 149,895 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Pinnacle Financial Partners were worth $15,487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allworth Financial LP raised its position in Pinnacle Financial Partners by 684.3% in the third quarter. Allworth Financial LP now owns 2,102 shares of the company’s stock valued at $197,000 after purchasing an additional 1,834 shares during the period. Swiss Life Asset Management Ltd grew its holdings in shares of Pinnacle Financial Partners by 80.6% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 3,609 shares of the company’s stock worth $338,000 after purchasing an additional 1,611 shares during the period. Caerus Investment Advisors LLC acquired a new stake in shares of Pinnacle Financial Partners during the 3rd quarter worth about $675,000. Sunbelt Securities Inc. acquired a new stake in shares of Pinnacle Financial Partners during the 3rd quarter worth about $357,000. Finally, Danske Bank A S purchased a new stake in Pinnacle Financial Partners in the 3rd quarter valued at about $75,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Analyst Ratings Changes

PNFP has been the topic of a number of recent analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Pinnacle Financial Partners in a research report on Wednesday, January 7th. Raymond James Financial reiterated a “strong-buy” rating on shares of Pinnacle Financial Partners in a research report on Thursday, January 22nd. Weiss Ratings assumed coverage on shares of Pinnacle Financial Partners in a report on Monday, March 9th. They issued a “hold (c+)” rating on the stock. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft set a $116.00 target price on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.41.

Pinnacle Financial Partners Stock Up 0.4%

NYSE PNFP opened at $83.24 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.38 and a beta of 1.02. Pinnacle Financial Partners, Inc. has a 1-year low of $81.08 and a 1-year high of $120.46.

Pinnacle Financial Partners Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 6th were issued a $0.50 dividend. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s payout ratio is 24.72%.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were purchased at an average cost of $94.52 per share, with a total value of $94,520.00. Following the purchase, the chief financial officer directly owned 49,485 shares in the company, valued at approximately $4,677,322.20. This represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.46% of the company’s stock.

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.