Universal Beteiligungs und Servicegesellschaft mbH Boosts Stock Holdings in Pinnacle Financial Partners, Inc. $PNFP

Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 7.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,910 shares of the financial services provider’s stock after acquiring an additional 2,406 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Pinnacle Financial Partners were worth $4,075,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. 1248 Management LLC bought a new stake in shares of Pinnacle Financial Partners in the first quarter worth about $29,000. Spurstone Advisory Services LLC purchased a new position in Pinnacle Financial Partners during the 2nd quarter valued at approximately $41,000. Ameritas Advisory Services LLC bought a new stake in Pinnacle Financial Partners in the 2nd quarter worth approximately $45,000. True Wealth Design LLC increased its stake in Pinnacle Financial Partners by 1,778.3% in the 2nd quarter. True Wealth Design LLC now owns 432 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 409 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Pinnacle Financial Partners during the 1st quarter worth approximately $51,000. Institutional investors own 87.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on PNFP shares. Cowen assumed coverage on shares of Pinnacle Financial Partners in a report on Wednesday, September 24th. They issued a “buy” rating for the company. Wells Fargo & Company dropped their price objective on shares of Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, October 17th. Stephens decreased their target price on shares of Pinnacle Financial Partners from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Friday, October 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pinnacle Financial Partners in a research report on Friday, October 31st. Finally, Keefe, Bruyette & Woods reduced their price objective on Pinnacle Financial Partners from $125.00 to $95.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 13th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $109.55.

Insider Transactions at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Director G Kennedy Thompson acquired 5,000 shares of the business’s stock in a transaction on Monday, October 20th. The shares were bought at an average price of $87.63 per share, with a total value of $438,150.00. Following the transaction, the director directly owned 33,372 shares of the company’s stock, valued at $2,924,388.36. The trade was a 17.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.46% of the stock is currently owned by insiders.

Pinnacle Financial Partners Price Performance

PNFP stock opened at $90.12 on Friday. The stock has a market cap of $6.99 billion, a PE ratio of 11.45 and a beta of 1.12. Pinnacle Financial Partners, Inc. has a 12 month low of $81.57 and a 12 month high of $131.91. The company has a 50-day moving average price of $89.87 and a 200 day moving average price of $98.83. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.22. Pinnacle Financial Partners had a net margin of 19.17% and a return on equity of 9.91%. The company had revenue of $544.80 million for the quarter, compared to analyst estimates of $526.40 million. During the same period in the prior year, the company posted $1.86 EPS. Equities research analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 7th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, November 7th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 12.20%.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.