Woodmont Investment Counsel LLC grew its position in Pinnacle Financial Partners (NASDAQ:PNFP) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,169 shares of the financial services provider’s stock after acquiring an additional 250 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Pinnacle Financial Partners were worth $1,964,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Laurel Wealth Advisors LLC purchased a new position in Pinnacle Financial Partners during the second quarter valued at $33,000. CENTRAL TRUST Co grew its stake in Pinnacle Financial Partners by 376.7% during the second quarter. CENTRAL TRUST Co now owns 715 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 565 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in Pinnacle Financial Partners during the second quarter valued at $68,000. Valeo Financial Advisors LLC grew its stake in Pinnacle Financial Partners by 66.7% during the second quarter. Valeo Financial Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 479 shares in the last quarter. Finally, Gradient Investments LLC purchased a new position in Pinnacle Financial Partners during the second quarter valued at $79,000. Institutional investors own 79.68% of the company’s stock.

In other news, Director David B. Ingram bought 20,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average price of $54.28 per share, for a total transaction of $1,085,600.00. Following the acquisition, the director now owns 54,067 shares of the company’s stock, valued at $2,934,756.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Harold R. Carpenter sold 3,006 shares of Pinnacle Financial Partners stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $57.90, for a total transaction of $174,047.40. Following the sale, the chief financial officer now owns 83,112 shares of the company’s stock, valued at approximately $4,812,184.80. The disclosure for this sale can be found here. Insiders sold a total of 64,475 shares of company stock valued at $3,674,396 in the last 90 days. Company insiders own 2.97% of the company’s stock.

Several equities analysts recently weighed in on PNFP shares. JPMorgan Chase & Co. started coverage on shares of Pinnacle Financial Partners in a research note on Wednesday. They set a “neutral” rating and a $62.00 target price for the company. Stephens reaffirmed a “hold” rating and set a $63.00 target price on shares of Pinnacle Financial Partners in a research note on Monday. BidaskClub raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, Zacks Investment Research cut shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Pinnacle Financial Partners presently has an average rating of “Hold” and a consensus price target of $61.43.

Shares of NASDAQ:PNFP traded up $0.05 on Wednesday, reaching $56.49. The company’s stock had a trading volume of 15,265 shares, compared to its average volume of 419,006. Pinnacle Financial Partners has a 52-week low of $43.23 and a 52-week high of $64.85. The company has a market cap of $4.35 billion, a P/E ratio of 11.93, a PEG ratio of 0.78 and a beta of 1.43. The company has a 50-day simple moving average of $54.63 and a 200 day simple moving average of $56.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 0.99.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $259.60 million during the quarter, compared to analysts’ expectations 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 revenue was up 12.8% on a year-over-year basis. During the same period last year, the company posted $1.15 EPS. On average, equities research analysts forecast that Pinnacle Financial Partners will post 5.28 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were issued a $0.16 dividend. The ex-dividend date was Thursday, August 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.13%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 13.50%.

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

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