ProShare Advisors LLC cut its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 18.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,149 shares of the financial services provider’s stock after selling 1,411 shares during the quarter. ProShare Advisors LLC’s holdings in Pinnacle Financial Partners were worth $386,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new position in Pinnacle Financial Partners in the first quarter valued at about $151,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Pinnacle Financial Partners by 61.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,464 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 935 shares during the last quarter. Sei Investments Co. raised its position in Pinnacle Financial Partners by 270.5% in the first quarter. Sei Investments Co. now owns 2,638 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 1,926 shares during the last quarter. Creative Planning raised its position in Pinnacle Financial Partners by 100.2% in the second quarter. Creative Planning now owns 3,218 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 1,611 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its position in Pinnacle Financial Partners by 149.7% in the second quarter. Riverhead Capital Management LLC now owns 3,496 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 2,096 shares during the last quarter. Hedge funds and other institutional investors own 69.28% of the company’s stock.

Several equities analysts have commented on the company. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $73.00 target price on shares of Pinnacle Financial Partners in a research report on Wednesday. Piper Jaffray Companies reiterated an “overweight” rating and issued a $72.00 target price on shares of Pinnacle Financial Partners in a research report on Thursday. Stephens reiterated a “hold” rating and issued a $71.00 target price on shares of Pinnacle Financial Partners in a research report on Thursday, July 20th. BidaskClub downgraded Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Finally, Hilliard Lyons upgraded Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $68.40.

In other news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction dated 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 sale, 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 filing with the SEC, which is available at this hyperlink. Also, CEO M Terry Turner sold 101,480 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $64.82, for a total value of $6,577,933.60. Following the completion of the sale, the chief executive officer now directly owns 538,441 shares of the company’s stock, valued at approximately $34,901,745.62. The disclosure for this sale can be found here. In the last three months, insiders sold 110,480 shares of company stock valued at $7,150,574. 5.41% of the stock is currently owned by corporate insiders.

Shares of Pinnacle Financial Partners, Inc. (PNFP) opened at 67.25 on Friday. The firm has a market cap of $5.17 billion, a PE ratio of 21.60 and a beta of 1.31. Pinnacle Financial Partners, Inc. has a 52 week low of $49.40 and a 52 week high of $71.85. The stock has a 50 day moving average price of $63.13 and a 200 day moving average price of $63.39.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, July 18th. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. Pinnacle Financial Partners had a return on equity of 7.67% and a net margin of 27.36%. The company had revenue of $141.70 million during the quarter, compared to analyst estimates of $130.23 million. During the same quarter in the previous year, the company posted $0.75 EPS. Pinnacle Financial Partners’s revenue for the quarter was up 31.4% on a year-over-year basis. Equities analysts expect that Pinnacle Financial Partners, Inc. will post $3.47 earnings per share for the current year.

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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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