Pinnacle Financial Partners, Inc. $PNFP Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC trimmed its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 37.9% during the third quarter, Holdings Channel.com reports. The firm owned 451,042 shares of the financial services provider’s stock after selling 275,772 shares during the period. GW&K Investment Management LLC’s holdings in Pinnacle Financial Partners were worth $42,303,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Covestor Ltd boosted its position in shares of Pinnacle Financial Partners by 193.9% in the 3rd quarter. Covestor Ltd now owns 338 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 223 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in Pinnacle Financial Partners in the second quarter valued at approximately $38,000. Quent Capital LLC acquired a new stake in shares of Pinnacle Financial Partners in the third quarter valued at approximately $34,000. MAI Capital Management grew its position in shares of Pinnacle Financial Partners by 79.4% during the second quarter. MAI Capital Management now owns 366 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 162 shares during the last quarter. Finally, Spurstone Advisory Services LLC purchased a new position in shares of Pinnacle Financial Partners during the second quarter worth approximately $41,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Stock Up 0.2%

Shares of Pinnacle Financial Partners stock opened at $91.45 on Thursday. Pinnacle Financial Partners, Inc. has a 1-year low of $81.57 and a 1-year high of $120.46. The company has a market capitalization of $7.09 billion, a PE ratio of 11.62, a P/E/G ratio of 0.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50-day moving average of $97.05 and a 200-day moving average of $94.44.

Pinnacle Financial Partners Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were issued a $0.50 dividend. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 24.72%.

Insider Buying and Selling at Pinnacle Financial Partners

In related news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average cost of $94.52 per share, for a total transaction of $94,520.00. Following the completion of the acquisition, the chief financial officer owned 49,485 shares in the company, valued at $4,677,322.20. This trade represents a 2.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.46% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PNFP. DA Davidson assumed coverage on Pinnacle Financial Partners in a report on Monday, January 5th. They issued a “neutral” rating and a $110.00 target price on the stock. Bank of America started coverage on shares of Pinnacle Financial Partners in a research report on Monday, December 8th. They issued a “buy” rating and a $113.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Pinnacle Financial Partners in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft set a $116.00 target price on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Finally, Truist Financial set a $100.00 price target on shares of Pinnacle Financial Partners in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $113.41.

About Pinnacle Financial Partners

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.