Pinnacle Financial Partners, Inc. $PNFP Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,406,657 shares of the financial services provider’s stock after selling 47,061 shares during the period. Vanguard Group Inc. owned 9.55% of Pinnacle Financial Partners worth $694,670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in Pinnacle Financial Partners by 97.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,073 shares of the financial services provider’s stock valued at $4,327,000 after acquiring an additional 23,292 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of Pinnacle Financial Partners by 146.1% during the third quarter. Voya Investment Management LLC now owns 25,183 shares of the financial services provider’s stock worth $2,362,000 after purchasing an additional 14,951 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Pinnacle Financial Partners by 585.5% in the third quarter. Jones Financial Companies Lllp now owns 18,419 shares of the financial services provider’s stock valued at $1,768,000 after purchasing an additional 15,732 shares during the period. Advisors Capital Management LLC grew its position in shares of Pinnacle Financial Partners by 10.5% in the second quarter. Advisors Capital Management LLC now owns 34,233 shares of the financial services provider’s stock valued at $3,780,000 after purchasing an additional 3,252 shares during the period. Finally, Woodmont Investment Counsel LLC increased its stake in Pinnacle Financial Partners by 43.1% in the third quarter. Woodmont Investment Counsel LLC now owns 94,388 shares of the financial services provider’s stock valued at $8,853,000 after purchasing an additional 28,445 shares during the last quarter. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Stock Performance

Shares of PNFP stock opened at $94.61 on Tuesday. The company’s fifty day simple moving average is $98.11 and its 200-day simple moving average is $94.39. Pinnacle Financial Partners, Inc. has a 52 week low of $81.57 and a 52 week high of $120.46. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. The company has a market cap of $7.34 billion, a PE ratio of 12.02, a P/E/G ratio of 0.48 and a beta of 1.03.

Pinnacle Financial Partners Announces Dividend

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

Insider Activity at Pinnacle Financial Partners

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of Pinnacle Financial Partners stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total transaction of $630,075.00. Following the sale, the chairman owned 202,505 shares of the company’s stock, valued at approximately $18,832,965. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew J. Jr. Gregory acquired 1,000 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, February 12th. The shares were acquired at an average price of $94.52 per share, with a total value of $94,520.00. Following the completion of the transaction, the chief financial officer owned 49,485 shares of the company’s stock, valued at approximately $4,677,322.20. This trade represents a 2.06% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 1.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Piper Sandler lifted their price target on Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pinnacle Financial Partners in a research report on Monday, December 29th. Royal Bank Of Canada upgraded shares of Pinnacle Financial Partners to a “moderate buy” rating in a report on Monday, January 5th. Barclays boosted their price objective on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Pinnacle Financial Partners in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $113.41.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.