Short Interest in Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) Rises By 2,100.0%

Pinnacle Financial Partners, Inc. (NASDAQ:PNFPPGet Free Report) was the target of a large increase in short interest in May. As of May 31st, there was short interest totalling 6,600 shares, an increase of 2,100.0% from the May 15th total of 300 shares. Based on an average trading volume of 13,200 shares, the days-to-cover ratio is currently 0.5 days.

Pinnacle Financial Partners Trading Down 0.4 %

Shares of PNFPP stock traded down $0.10 during mid-day trading on Thursday, hitting $23.60. 10,119 shares of the stock were exchanged, compared to its average volume of 12,962. The firm has a fifty day moving average of $23.43 and a 200 day moving average of $23.42. Pinnacle Financial Partners has a 52-week low of $20.50 and a 52-week high of $24.81.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 17th were given a dividend of $0.422 per share. The ex-dividend date was Thursday, May 16th. This represents a $1.69 annualized dividend and a dividend yield of 7.15%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Pinnacle Financial Partners stock. Thompson Investment Management Inc. purchased a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFPPFree Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,000 shares of the company’s stock, valued at approximately $47,000.

About Pinnacle Financial Partners

(Get Free Report)

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.

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