Atlanta Capital Management Co. L L C lessened its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 452,868 shares of the financial services provider’s stock after selling 2,461 shares during the quarter. Atlanta Capital Management Co. L L C owned about 0.58% of Pinnacle Financial Partners worth $30,320,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PNFP. Vanguard Group Inc. boosted its stake in shares of Pinnacle Financial Partners by 42.6% during the 2nd quarter. Vanguard Group Inc. now owns 5,840,702 shares of the financial services provider’s stock worth $366,796,000 after acquiring an additional 1,746,012 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Pinnacle Financial Partners by 186.2% during the 2nd quarter. Franklin Resources Inc. now owns 1,720,468 shares of the financial services provider’s stock worth $108,045,000 after acquiring an additional 1,119,331 shares in the last quarter. Pinnacle Financial Partners Inc. boosted its stake in shares of Pinnacle Financial Partners by 337.7% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 1,112,747 shares of the financial services provider’s stock worth $74,498,000 after acquiring an additional 858,514 shares in the last quarter. State Street Corp boosted its stake in shares of Pinnacle Financial Partners by 42.8% during the 2nd quarter. State Street Corp now owns 2,733,336 shares of the financial services provider’s stock worth $171,658,000 after acquiring an additional 819,858 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Pinnacle Financial Partners by 56.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,128,192 shares of the financial services provider’s stock worth $133,651,000 after acquiring an additional 764,072 shares in the last quarter. Institutional investors own 71.79% of the company’s stock.

Pinnacle Financial Partners, Inc. (PNFP) opened at $66.60 on Friday. Pinnacle Financial Partners, Inc. has a 12-month low of $58.40 and a 12-month high of $71.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.99. The firm has a market capitalization of $5,203.54, a PE ratio of 19.69, a P/E/G ratio of 1.57 and a beta of 1.31.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The business had revenue of $216.20 million during the quarter, compared to analysts’ expectations of $217.13 million. During the same quarter in the previous year, the firm earned $0.78 EPS. The firm’s revenue was up 102.8% compared to the same quarter last year. analysts forecast that Pinnacle Financial Partners, Inc. will post 3.56 earnings per share 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. The ex-dividend date was Thursday, November 2nd. This represents a $0.56 annualized dividend and a dividend yield of 0.84%. Pinnacle Financial Partners’s dividend payout ratio is presently 17.34%.

Several analysts have recently issued reports on PNFP shares. SunTrust Banks reiterated a “buy” rating and set a $73.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, October 4th. Hilliard Lyons raised Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Wednesday, August 23rd. Piper Jaffray Companies reissued a “buy” rating and set a $74.00 price objective on shares of Pinnacle Financial Partners in a research report on Thursday, October 19th. Zacks Investment Research raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Finally, BidaskClub cut Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Pinnacle Financial Partners has an average rating of “Hold” and a consensus price target of $73.75.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $64.41, for a total value of $193,230.00. Following the completion of the transaction, the insider now owns 58,794 shares of the company’s stock, valued at approximately $3,786,921.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas R. Sloan sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $67.25, for a total value of $672,500.00. Following the completion of the transaction, the director now directly owns 128,257 shares of the company’s stock, valued at approximately $8,625,283.25. The disclosure for this sale can be found here. Insiders have sold a total of 66,711 shares of company stock valued at $4,483,257 in the last three months. 5.41% of the stock is owned by insiders.

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About Pinnacle Financial Partners

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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