SG Americas Securities LLC Buys 125,055 Shares of Pinnacle Financial Partners, Inc. $PNFP

SG Americas Securities LLC lifted its stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 2,647.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,779 shares of the company’s stock after purchasing an additional 125,055 shares during the period. SG Americas Securities LLC’s holdings in Pinnacle Financial Partners were worth $12,382,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Diversified Trust Co. lifted its holdings in Pinnacle Financial Partners by 0.3% in the fourth quarter. Diversified Trust Co. now owns 54,349 shares of the company’s stock worth $5,185,000 after buying an additional 137 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Pinnacle Financial Partners by 96.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 92,374 shares of the company’s stock worth $9,032,000 after acquiring an additional 45,301 shares in the last quarter. NorthCrest Asset Manangement LLC raised its position in shares of Pinnacle Financial Partners by 67.0% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,055 shares of the company’s stock worth $1,266,000 after acquiring an additional 5,236 shares in the last quarter. Wedmont Private Capital purchased a new position in shares of Pinnacle Financial Partners in the 4th quarter valued at approximately $732,000. Finally, Sagespring Wealth Partners LLC lifted its stake in shares of Pinnacle Financial Partners by 7.2% in the 4th quarter. Sagespring Wealth Partners LLC now owns 17,105 shares of the company’s stock valued at $1,632,000 after purchasing an additional 1,151 shares during the period. Institutional investors own 87.40% of the company’s stock.

Insider Activity at Pinnacle Financial Partners

In related news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, February 12th. The stock was purchased 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 directly owned 49,485 shares of the company’s stock, valued at $4,677,322.20. The trade was a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PNFP. Barclays upped their price target on Pinnacle Financial Partners from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Wall Street Zen lowered Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Thursday. Truist Financial set a $100.00 target price on shares of Pinnacle Financial Partners in a report on Friday, January 9th. Weiss Ratings initiated coverage on shares of Pinnacle Financial Partners in a research report on Monday, March 9th. They issued a “hold (c+)” rating on the stock. Finally, Royal Bank Of Canada upgraded shares of Pinnacle Financial Partners to a “moderate buy” rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Pinnacle Financial Partners currently has an average rating of “Moderate Buy” and an average target price of $113.41.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $82.94 on Friday. Pinnacle Financial Partners, Inc. has a twelve month low of $81.08 and a twelve month high of $120.46. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $6.43 billion, a P/E ratio of 10.25, a P/E/G ratio of 0.38 and a beta of 1.02.

Pinnacle Financial Partners Announces Dividend

The business also recently announced a dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 6th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is currently 24.72%.

About Pinnacle Financial Partners

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.