TD Asset Management Inc Sells 7,768 Shares of Pinnacle Financial Partners, Inc. $PNFP

TD Asset Management Inc reduced its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 18.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,806 shares of the financial services provider’s stock after selling 7,768 shares during the quarter. TD Asset Management Inc’s holdings in Pinnacle Financial Partners were worth $3,171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in Pinnacle Financial Partners in the 2nd quarter worth approximately $113,461,000. The Manufacturers Life Insurance Company lifted its stake in shares of Pinnacle Financial Partners by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,010,422 shares of the financial services provider’s stock valued at $111,561,000 after acquiring an additional 31,858 shares during the period. Channing Capital Management LLC boosted its holdings in Pinnacle Financial Partners by 1.8% in the second quarter. Channing Capital Management LLC now owns 671,556 shares of the financial services provider’s stock valued at $74,146,000 after acquiring an additional 12,162 shares during the last quarter. JPMorgan Chase & Co. increased its position in Pinnacle Financial Partners by 0.5% in the second quarter. JPMorgan Chase & Co. now owns 652,562 shares of the financial services provider’s stock worth $72,049,000 after purchasing an additional 3,441 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Pinnacle Financial Partners by 6.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the financial services provider’s stock worth $69,060,000 after purchasing an additional 37,989 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Insider Activity at Pinnacle Financial Partners

In other news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, February 12th. The stock was bought at an average cost of $94.52 per share, with a total value of $94,520.00. Following the completion of the transaction, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at approximately $4,677,322.20. This represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.46% of the stock is currently owned by company insiders.

Pinnacle Financial Partners Stock Up 0.2%

Shares of PNFP stock opened at $91.45 on Thursday. Pinnacle Financial Partners, Inc. has a 12-month low of $81.57 and a 12-month high of $120.46. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average of $97.05 and a 200-day moving average of $94.44. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 0.48 and a beta of 1.02.

Pinnacle Financial Partners Dividend Announcement

The company also recently declared a dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 6th were issued a $0.50 dividend. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s payout ratio is 24.72%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $116.00 target price on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a research note on Wednesday, January 21st. Piper Sandler raised their price objective on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods increased their price target on Pinnacle Financial Partners from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Friday, January 9th. Citigroup lifted their price objective on Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Bank of America began coverage on Pinnacle Financial Partners in a research note on Monday, December 8th. They issued a “buy” rating and a $113.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.41.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.