Voya Investment Management LLC raised its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 29.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 435,485 shares of the financial services provider’s stock after buying an additional 99,111 shares during the period. Voya Investment Management LLC owned about 0.57% of Pinnacle Financial Partners worth $27,349,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PNFP. BlackRock Inc. boosted its position in Pinnacle Financial Partners by 56,554.1% in the 1st quarter. BlackRock Inc. now owns 5,632,547 shares of the financial services provider’s stock valued at $374,283,000 after buying an additional 5,622,605 shares during the last quarter. Vanguard Group Inc. boosted its position in Pinnacle Financial Partners by 42.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,840,702 shares of the financial services provider’s stock valued at $366,796,000 after buying an additional 1,746,012 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Pinnacle Financial Partners by 186.2% in the 2nd quarter. Franklin Resources Inc. now owns 1,720,468 shares of the financial services provider’s stock worth $108,045,000 after purchasing an additional 1,119,331 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Pinnacle Financial Partners in the 2nd quarter worth $63,064,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Pinnacle Financial Partners by 33.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,719,514 shares of the financial services provider’s stock worth $107,987,000 after purchasing an additional 428,774 shares during the last quarter. Hedge funds and other institutional investors own 69.28% of the company’s stock.

In other Pinnacle Financial Partners news, Director Joseph C. Galante acquired 1,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, September 7th. The shares were bought 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 directly owns 19,011 shares in the company, valued at approximately $1,129,253.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $66.02, for a total transaction of $198,060.00. Following the completion of the sale, the insider now directly owns 64,794 shares in the company, valued at approximately $4,277,699.88. The disclosure for this sale can be found here. In the last three months, insiders sold 110,480 shares of company stock worth $7,150,574. 5.41% of the stock is currently owned by insiders.

PNFP has been the topic of several recent research reports. BidaskClub upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Hilliard Lyons upgraded Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Wednesday, August 23rd. Finally, Stephens restated a “hold” rating and issued a $71.00 price target on shares of Pinnacle Financial Partners in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Pinnacle Financial Partners currently has a consensus rating of “Hold” and a consensus target price of $67.00.

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Pinnacle Financial Partners, Inc. (PNFP) opened at 66.95 on Friday. Pinnacle Financial Partners, Inc. has a 52-week low of $49.40 and a 52-week high of $71.85. The stock has a 50 day moving average price of $61.92 and a 200 day moving average price of $63.52. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 21.51 and a beta of 1.29.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04. Pinnacle Financial Partners had a net margin of 27.36% and a return on equity of 7.67%. The company had revenue of $141.70 million for the quarter, compared to analysts’ expectations of $130.23 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Pinnacle Financial Partners’s revenue for the quarter was up 31.4% on a year-over-year basis. Analysts anticipate that Pinnacle Financial Partners, Inc. will post $3.47 EPS for the current fiscal year.

Pinnacle Financial Partners Profile

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.

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

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