Pinnacle Financial Partners, Inc. $PNFP Shares Sold by Villanova Investment Management Co LLC

Villanova Investment Management Co LLC lessened its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 68.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,296 shares of the financial services provider’s stock after selling 15,951 shares during the period. Pinnacle Financial Partners comprises approximately 2.2% of Villanova Investment Management Co LLC’s investment portfolio, making the stock its 16th largest holding. Villanova Investment Management Co LLC’s holdings in Pinnacle Financial Partners were worth $774,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PNFP. Baird Financial Group Inc. raised its holdings in Pinnacle Financial Partners by 82.5% in the 4th quarter. Baird Financial Group Inc. now owns 6,171 shares of the financial services provider’s stock worth $706,000 after purchasing an additional 2,790 shares during the period. Cetera Investment Advisers increased its position in shares of Pinnacle Financial Partners by 25.6% in the fourth quarter. Cetera Investment Advisers now owns 12,290 shares of the financial services provider’s stock valued at $1,406,000 after buying an additional 2,502 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Pinnacle Financial Partners by 1.8% during the 4th quarter. Deutsche Bank AG now owns 11,145 shares of the financial services provider’s stock worth $1,275,000 after buying an additional 193 shares during the period. Focus Partners Wealth lifted its position in shares of Pinnacle Financial Partners by 26.8% during the 4th quarter. Focus Partners Wealth now owns 4,174 shares of the financial services provider’s stock valued at $477,000 after buying an additional 883 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in Pinnacle Financial Partners in the 4th quarter valued at $1,162,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Trading Up 0.1%

PNFP opened at $97.69 on Thursday. The stock has a market capitalization of $7.58 billion, a PE ratio of 12.96 and a beta of 1.07. Pinnacle Financial Partners, Inc. has a one year low of $81.57 and a one year high of $131.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.89. The business’s 50 day moving average price is $100.65 and its 200 day moving average price is $102.99.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.08. Pinnacle Financial Partners had a return on equity of 9.60% and a net margin of 18.69%.The company had revenue of $504.99 million during the quarter, compared to analysts’ expectations of $495.27 million. During the same quarter last year, the firm earned $1.63 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities research analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, August 1st. Pinnacle Financial Partners’s payout ratio is 12.73%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Stephens reduced their price objective on shares of Pinnacle Financial Partners from $133.00 to $104.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 29th. Wells Fargo & Company reduced their price target on shares of Pinnacle Financial Partners from $125.00 to $110.00 and set an “equal weight” rating for the company in a research report on Friday, July 25th. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Citigroup cut their price objective on Pinnacle Financial Partners from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, July 25th. Finally, Truist Financial reissued a “buy” rating and set a $127.00 target price (up previously from $123.00) on shares of Pinnacle Financial Partners in a report on Friday, July 11th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $113.50.

Insider Buying and Selling at Pinnacle Financial Partners

In related news, Director G Kennedy Thompson acquired 10,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $85.65 per share, with a total value of $856,500.00. Following the transaction, the director owned 28,372 shares of the company’s stock, valued at approximately $2,430,061.80. This trade represents a 54.43% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Harold R. Carpenter bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average price of $89.73 per share, with a total value of $89,730.00. Following the acquisition, the chief financial officer directly owned 105,050 shares in the company, valued at $9,426,136.50. The trade was a 0.96% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 12,174 shares of company stock valued at $1,047,079 over the last 90 days. 1.46% of the stock is owned by insiders.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.