Krilogy Financial LLC Makes New $717,000 Investment in Pinnacle Financial Partners, Inc. $PNFP

Krilogy Financial LLC purchased a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,291 shares of the financial services provider’s stock, valued at approximately $717,000.

Several other hedge funds have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Pinnacle Financial Partners by 97.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,073 shares of the financial services provider’s stock worth $4,327,000 after purchasing an additional 23,292 shares during the last quarter. Voya Investment Management LLC grew its holdings in Pinnacle Financial Partners by 146.1% during the third quarter. Voya Investment Management LLC now owns 25,183 shares of the financial services provider’s stock valued at $2,362,000 after purchasing an additional 14,951 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Pinnacle Financial Partners by 585.5% in the third quarter. Jones Financial Companies Lllp now owns 18,419 shares of the financial services provider’s stock valued at $1,768,000 after purchasing an additional 15,732 shares during the period. Advisors Capital Management LLC lifted its stake in shares of Pinnacle Financial Partners by 10.5% in the second quarter. Advisors Capital Management LLC now owns 34,233 shares of the financial services provider’s stock worth $3,780,000 after buying an additional 3,252 shares during the last quarter. Finally, Woodmont Investment Counsel LLC boosted its holdings in shares of Pinnacle Financial Partners by 43.1% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 94,388 shares of the financial services provider’s stock worth $8,853,000 after buying an additional 28,445 shares during the period. 87.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNFP has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Pinnacle Financial Partners in a research report on Monday, December 29th. Truist Financial set a $100.00 price objective on Pinnacle Financial Partners in a research note on Friday, January 9th. Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a research note on Monday, January 5th. Piper Sandler raised their target price on Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Finally, DA Davidson started coverage on Pinnacle Financial Partners in a report on Monday, January 5th. They set a “neutral” rating and a $110.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.41.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total value of $630,075.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Andrew J. Jr. Gregory purchased 1,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, February 12th. The shares were bought at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the transaction, the chief financial officer owned 49,485 shares in the company, valued at $4,677,322.20. This represents a 2.06% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.46% of the stock is currently owned by corporate insiders.

Pinnacle Financial Partners Trading Up 1.1%

Shares of PNFP opened at $96.19 on Friday. The stock has a market cap of $7.46 billion, a PE ratio of 12.22, a PEG ratio of 0.48 and a beta of 1.03. The stock has a 50 day simple moving average of $98.28 and a 200-day simple moving average of $93.94. Pinnacle Financial Partners, Inc. has a 1 year low of $81.57 and a 1 year high of $122.01. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 6th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, February 6th. Pinnacle Financial Partners’s payout ratio is presently 24.72%.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.