M Holdings Securities Inc. Buys New Shares in Pinnacle Financial Partners, Inc. $PNFP

M Holdings Securities Inc. acquired a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 53,256 shares of the financial services provider’s stock, valued at approximately $5,835,000. Pinnacle Financial Partners accounts for about 1.0% of M Holdings Securities Inc.’s investment portfolio, making the stock its 26th biggest holding. M Holdings Securities Inc. owned 0.07% of Pinnacle Financial Partners as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. 1248 Management LLC acquired a new stake in Pinnacle Financial Partners during the first quarter worth about $29,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Pinnacle Financial Partners during the 2nd quarter worth approximately $38,000. MAI Capital Management raised its stake in shares of Pinnacle Financial Partners by 79.4% in the second quarter. MAI Capital Management now owns 366 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 162 shares in the last quarter. Spurstone Advisory Services LLC bought a new position in Pinnacle Financial Partners in the second quarter worth $41,000. Finally, Ameritas Advisory Services LLC bought a new position in Pinnacle Financial Partners in the second quarter worth $45,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Trading Up 1.3%

Shares of PNFP opened at $95.37 on Friday. The stock’s fifty day simple moving average is $89.32 and its 200-day simple moving average is $97.87. The firm has a market capitalization of $7.40 billion, a PE ratio of 12.12 and a beta of 1.06. Pinnacle Financial Partners, Inc. has a 12-month low of $81.57 and a 12-month high of $127.85. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.22. Pinnacle Financial Partners had a return on equity of 9.91% and a net margin of 19.17%.The firm had revenue of $544.80 million during the quarter, compared to analysts’ expectations of $526.40 million. During the same period in the previous year, the business posted $1.86 EPS. As a group, research analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 7th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 12.20%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PNFP shares. Wells Fargo & Company cut their target price on Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday, October 17th. Barclays lifted their price target on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Stephens decreased their price objective on shares of Pinnacle Financial Partners from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, October 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pinnacle Financial Partners in a research note on Tuesday. Finally, Cowen began coverage on Pinnacle Financial Partners in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Pinnacle Financial Partners has a consensus rating of “Hold” and a consensus target price of $109.55.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, Director G Kennedy Thompson bought 5,000 shares of the company’s stock in a transaction on Monday, October 20th. The stock was bought at an average price of $87.63 per share, for a total transaction of $438,150.00. Following the transaction, the director owned 33,372 shares of the company’s stock, valued at approximately $2,924,388.36. The trade was a 17.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total value of $630,075.00. Following the completion of the transaction, the chairman directly owned 202,505 shares in the company, valued at approximately $18,832,965. This trade represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. 1.46% of the stock is currently owned by insiders.

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.