Processus Wealth & Capital Management LLC Purchases Shares of 7,151 Pinnacle Financial Partners, Inc. $PNFP

Processus Wealth & Capital Management LLC acquired a new stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,151 shares of the company’s stock, valued at approximately $721,000.

A number of other hedge funds have also recently made changes to their positions in the business. Brown Brothers Harriman & Co. purchased a new stake in shares of Pinnacle Financial Partners during the third quarter worth about $26,000. High Point Wealth Management LLC purchased a new position in Pinnacle Financial Partners in the 4th quarter worth approximately $27,000. BOKF NA boosted its stake in Pinnacle Financial Partners by 1,204.5% in the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the period. Activest Wealth Management purchased a new stake in Pinnacle Financial Partners during the 4th quarter valued at approximately $28,000. Finally, Resources Management Corp CT ADV bought a new stake in shares of Pinnacle Financial Partners during the first quarter valued at approximately $26,000. Institutional investors own 87.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stephens set a $112.00 target price on shares of Pinnacle Financial Partners in a research report on Monday, July 27th. JPMorgan Chase & Co. reduced their price target on shares of Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, July 24th. Wells Fargo & Company boosted their price target on shares of Pinnacle Financial Partners from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday. UBS Group increased their price objective on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Benchmark raised their price objective on Pinnacle Financial Partners from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $118.35.

Insider Activity at Pinnacle Financial Partners

In related news, insider Robert A. Mccabe, Jr. acquired 10,013 shares of Pinnacle Financial Partners stock in a transaction on Friday, July 24th. The shares were bought at an average cost 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 $32,390,876.70. The trade was a 3.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider M Terry Turner sold 2,737 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $108.01, for a total value of $295,623.37. Following the sale, the insider owned 422,614 shares in the company, valued at approximately $45,646,538.14. This trade represents a 0.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.30% of the company’s stock.

Pinnacle Financial Partners Stock Up 1.0%

PNFP stock opened at $105.61 on Wednesday. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $110.33. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 0.42 and a beta of 1.03. The company’s fifty day simple moving average is $100.06. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.73.

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

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 7th will be given a $0.50 dividend. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 1.9%. Pinnacle Financial Partners’s dividend payout ratio (DPR) 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.