Headlands Technologies LLC Makes New $133,000 Investment in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Headlands Technologies LLC acquired a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the first quarter, Holdings Channel reports. The firm acquired 1,544 shares of the financial services provider’s stock, valued at approximately $133,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of Pinnacle Financial Partners in the 1st quarter worth $26,000. Bruce G. Allen Investments LLC acquired a new stake in Pinnacle Financial Partners in the 4th quarter valued at about $32,000. ICA Group Wealth Management LLC bought a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at about $44,000. Principal Securities Inc. acquired a new position in shares of Pinnacle Financial Partners in the 4th quarter worth approximately $60,000. Finally, Mather Group LLC. bought a new stake in shares of Pinnacle Financial Partners in the 1st quarter worth approximately $65,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pinnacle Financial Partners

In other news, Chairman Robert A. Mccabe, Jr. sold 115,249 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $81.04, for a total transaction of $9,339,778.96. Following the completion of the transaction, the chairman now owns 153,062 shares of the company’s stock, valued at $12,404,144.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Robert A. Mccabe, Jr. sold 115,249 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $81.04, for a total value of $9,339,778.96. Following the sale, the chairman now owns 153,062 shares of the company’s stock, valued at $12,404,144.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO M Terry Turner sold 72,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $80.97, for a total transaction of $5,829,840.00. Following the completion of the sale, the chief executive officer now owns 222,790 shares in the company, valued at approximately $18,039,306.30. The disclosure for this sale can be found here. Corporate insiders own 1.87% of the company’s stock.

Pinnacle Financial Partners Stock Up 1.5 %

Shares of NASDAQ PNFP traded up $1.41 during mid-day trading on Wednesday, reaching $92.66. 47,370 shares of the company traded hands, compared to its average volume of 443,324. The company’s fifty day moving average is $79.55 and its two-hundred day moving average is $81.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. Pinnacle Financial Partners, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $92.99. The stock has a market cap of $7.16 billion, a PE ratio of 13.05 and a beta of 1.08.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Monday, April 22nd. The financial services provider reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.01. The company had revenue of $428.14 million for the quarter, compared to analyst estimates of $413.27 million. Pinnacle Financial Partners had a net margin of 18.59% and a return on equity of 9.31%. On average, analysts expect that Pinnacle Financial Partners, Inc. will post 6.75 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 3rd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, May 2nd. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 12.59%.

Analyst Upgrades and Downgrades

PNFP has been the topic of several recent research reports. Truist Financial decreased their price target on shares of Pinnacle Financial Partners from $94.00 to $87.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Hovde Group dropped their price target on Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 23rd. Jefferies Financial Group decreased their price objective on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Stephens dropped their target price on Pinnacle Financial Partners from $109.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Pinnacle Financial Partners from $108.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $93.38.

Pinnacle Financial Partners Profile

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.