Boston Partners Lowers Stock Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Boston Partners lessened its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,577 shares of the financial services provider’s stock after selling 1,607 shares during the period. Boston Partners owned approximately 0.11% of Pinnacle Financial Partners worth $9,679,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in Pinnacle Financial Partners in the third quarter worth $70,000. UMB Bank n.a. raised its holdings in shares of Pinnacle Financial Partners by 48.1% during the 4th quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock valued at $84,000 after buying an additional 239 shares in the last quarter. Principal Securities Inc. boosted its stake in Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after buying an additional 91 shares in the last quarter. Trust Co. of Vermont bought a new position in Pinnacle Financial Partners during the fourth quarter valued at approximately $97,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter worth approximately $137,000. Institutional investors own 87.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Barclays raised Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $120.00 to $135.00 in a research note on Thursday, December 19th. UBS Group started coverage on Pinnacle Financial Partners in a research report on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price target on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $135.00 price objective (up previously from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th. Finally, Stephens restated an “overweight” rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Pinnacle Financial Partners has an average rating of “Hold” and a consensus target price of $125.18.

Insider Buying and Selling

In other Pinnacle Financial Partners news, Director David B. Ingram sold 10,309 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.00, for a total transaction of $1,298,934.00. Following the completion of the transaction, the director now owns 82,256 shares of the company’s stock, valued at approximately $10,364,256. This trade represents a 11.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glenda Baskin Glover sold 3,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $101.55, for a total transaction of $304,650.00. Following the transaction, the director now owns 9,943 shares of the company’s stock, valued at $1,009,711.65. The trade was a 23.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,350 shares of company stock worth $11,421,320 in the last three months. 1.46% of the stock is owned by corporate insiders.

Pinnacle Financial Partners Stock Down 0.6 %

Shares of Pinnacle Financial Partners stock opened at $105.53 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. Pinnacle Financial Partners, Inc. has a 12-month low of $73.62 and a 12-month high of $131.91. The company has a market cap of $8.16 billion, a P/E ratio of 17.65 and a beta of 1.09. The company’s fifty day simple moving average is $115.71 and its two-hundred day simple moving average is $111.59.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.10. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The company had revenue of $475.34 million for the quarter, compared to analysts’ expectations of $470.33 million. During the same quarter in the previous year, the company earned $1.68 earnings per share. Pinnacle Financial Partners’s quarterly revenue was up 19.9% on a year-over-year basis. Research analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 7th were given a $0.24 dividend. The ex-dividend date was Friday, February 7th. This is an increase from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. Pinnacle Financial Partners’s dividend payout ratio is currently 16.05%.

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.