Troluce Capital Advisors LLC Takes $22.26 Million Position in Pinnacle Financial Partners, Inc. $PNFP

Troluce Capital Advisors LLC bought a new stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 258,400 shares of the company’s stock, valued at approximately $22,259,000. Pinnacle Financial Partners makes up approximately 1.4% of Troluce Capital Advisors LLC’s investment portfolio, making the stock its 17th largest position.

Several other hedge funds also recently bought and sold shares of PNFP. Brown Brothers Harriman & Co. purchased a new position in shares of Pinnacle Financial Partners in the third quarter valued at about $26,000. High Point Wealth Management LLC bought a new stake in Pinnacle Financial Partners during the 4th quarter valued at approximately $27,000. BOKF NA lifted its holdings 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 in the last quarter. Activest Wealth Management purchased a new position in Pinnacle Financial Partners in the 4th quarter worth approximately $28,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in Pinnacle Financial Partners by 175.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 339 shares of the company’s stock worth $32,000 after purchasing an additional 216 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

Analyst Upgrades and Downgrades

PNFP has been the subject of a number of research analyst reports. Citigroup increased their price objective on shares of Pinnacle Financial Partners from $122.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Weiss Ratings raised shares of Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Wall Street Zen upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Piper Sandler raised their target price on shares of Pinnacle Financial Partners from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Robert W. Baird initiated coverage on shares of Pinnacle Financial Partners in a report on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.65.

Pinnacle Financial Partners Price Performance

Shares of PNFP stock opened at $102.53 on Monday. The stock has a market capitalization of $7.95 billion, a P/E ratio of 14.08, a PEG ratio of 0.41 and a beta of 1.04. The company’s 50 day moving average is $97.90. Pinnacle Financial Partners, Inc. has a 1 year low of $81.08 and a 1 year high of $107.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 0.94.

Pinnacle Financial Partners (NYSE:PNFP) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.46 by $0.04. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. Equities research analysts expect that Pinnacle Financial Partners, Inc. will post 10.18 EPS for the current year.

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.