Thomas R. Sloan Sells 6,000 Shares of Pinnacle Financial Partners (NASDAQ:PNFP) Stock
Pinnacle Financial Partners (NASDAQ:PNFP) Director Thomas R. Sloan sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $56.42, for a total transaction of $338,520.00. Following the transaction, the director now directly owns 104,425 shares of the company’s stock, valued at $5,891,658.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of NASDAQ:PNFP traded down $0.09 during trading on Thursday, hitting $57.16. 157,779 shares of the stock traded hands, compared to its average volume of 419,881. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.58. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 0.73 and a beta of 1.43. The company has a fifty day moving average price of $54.96 and a two-hundred day moving average price of $56.21. Pinnacle Financial Partners has a 52-week low of $43.23 and a 52-week high of $64.85.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.14. The firm had revenue of $259.60 million during the quarter, compared to analyst estimates of $252.44 million. Pinnacle Financial Partners had a net margin of 30.46% and a return on equity of 9.82%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 EPS. On average, equities research analysts predict that Pinnacle Financial Partners will post 5.3 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of PNFP. BlackRock Inc. grew its stake in Pinnacle Financial Partners by 1.9% in the 2nd quarter. BlackRock Inc. now owns 6,907,303 shares of the financial services provider’s stock valued at $397,031,000 after acquiring an additional 129,077 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Pinnacle Financial Partners by 6.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,824,824 shares of the financial services provider’s stock valued at $219,851,000 after acquiring an additional 230,361 shares during the period. Wasatch Advisors Inc. grew its stake in Pinnacle Financial Partners by 48.9% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,686,798 shares of the financial services provider’s stock valued at $96,957,000 after acquiring an additional 553,876 shares during the period. Victory Capital Management Inc. grew its stake in Pinnacle Financial Partners by 3.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,598,197 shares of the financial services provider’s stock valued at $91,864,000 after acquiring an additional 53,075 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Pinnacle Financial Partners by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,586,418 shares of the financial services provider’s stock valued at $73,135,000 after acquiring an additional 82,699 shares during the period. 79.76% of the stock is owned by hedge funds and other institutional investors.
PNFP has been the subject of a number of recent research reports. BidaskClub raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday. Stephens reissued a “hold” rating and set a $63.00 price target on shares of Pinnacle Financial Partners in a research report on Thursday, July 18th. Finally, Zacks Investment Research raised shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $61.33.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.
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