Sei Investments Co. lifted its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 475.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,187 shares of the financial services provider’s stock after buying an additional 20,809 shares during the quarter. Sei Investments Co.’s holdings in Pinnacle Financial Partners were worth $1,687,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PNFP. Advisor Group Inc. boosted its stake in Pinnacle Financial Partners by 14.5% during the 2nd quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 291 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Pinnacle Financial Partners by 61.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,464 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 935 shares during the last quarter. Creative Planning boosted its stake in Pinnacle Financial Partners by 100.2% during the 2nd quarter. Creative Planning now owns 3,218 shares of the financial services provider’s stock worth $202,000 after acquiring an additional 1,611 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in Pinnacle Financial Partners by 149.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,496 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 2,096 shares during the last quarter. Finally, South State Corp bought a new position in Pinnacle Financial Partners during the 2nd quarter worth approximately $223,000. Institutional investors own 71.79% of the company’s stock.

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) opened at $69.00 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.57. Pinnacle Financial Partners, Inc. has a one year low of $58.40 and a one year high of $71.85. The firm has a market cap of $5,304.58, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 1.60 and a beta of 1.31.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.01. Pinnacle Financial Partners had a net margin of 27.41% and a return on equity of 7.36%. The firm had revenue of $216.20 million for the quarter, compared to analyst estimates of $217.13 million. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The business’s revenue was up 102.8% on a year-over-year basis. equities research analysts expect that Pinnacle Financial Partners, Inc. will post 3.56 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 3rd were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Thursday, November 2nd. Pinnacle Financial Partners’s payout ratio is currently 17.34%.

In related news, Director Joseph C. Galante purchased 1,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of $59.40 per share, with a total value of $59,400.00. Following the completion of the purchase, the director now owns 19,011 shares in the company, valued at approximately $1,129,253.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $64.41, for a total transaction of $193,230.00. Following the completion of the sale, the insider now owns 58,794 shares in the company, valued at $3,786,921.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,711 shares of company stock worth $4,483,257. Insiders own 5.41% of the company’s stock.

Several research analysts recently weighed in on PNFP shares. BidaskClub lowered shares of Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Wednesday, August 23rd. SunTrust Banks reissued a “buy” rating and set a $73.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, October 4th. Piper Jaffray Companies reissued an “overweight” rating and set a $72.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday, October 5th. Finally, Zacks Investment Research lowered shares of Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $73.75.

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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.

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Institutional Ownership by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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