Dimensional Fund Advisors LP Has $433.71 Million Holdings in Pinnacle Financial Partners, Inc. $PNFP

Dimensional Fund Advisors LP increased its position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 80.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,035,295 shares of the company’s stock after acquiring an additional 2,244,659 shares during the quarter. Dimensional Fund Advisors LP owned about 0.06% of Pinnacle Financial Partners worth $433,712,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Pinnacle Financial Partners by 1,697.4% during the third quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company’s stock valued at $306,474,000 after acquiring an additional 3,085,867 shares during the period. Nomura Holdings Inc. bought a new position in shares of Pinnacle Financial Partners in the third quarter worth about $187,822,000. Alyeska Investment Group L.P. bought a new position in shares of Pinnacle Financial Partners in the fourth quarter worth about $159,545,000. Norges Bank acquired a new position in shares of Pinnacle Financial Partners during the 4th quarter worth about $116,349,000. Finally, Wellington Management Group LLP lifted its position in shares of Pinnacle Financial Partners by 42.2% during the 4th quarter. Wellington Management Group LLP now owns 3,067,116 shares of the company’s stock worth $292,634,000 after purchasing an additional 910,367 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Trading Down 1.5%

Shares of PNFP stock opened at $99.49 on Tuesday. The stock has a 50 day moving average price of $97.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. Pinnacle Financial Partners, Inc. has a 12 month low of $81.08 and a 12 month high of $119.68. The company has a market cap of $7.72 billion, a P/E ratio of 13.80, a P/E/G ratio of 0.40 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.09. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. Sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 10.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup raised their target price on Pinnacle Financial Partners from $122.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Barclays cut their price target on Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Evercore restated an “outperform” rating and issued a $120.00 price objective on shares of Pinnacle Financial Partners in a research note on Monday, July 6th. TD Cowen dropped their target price on shares of Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Finally, Truist Financial upped their target price on shares of Pinnacle Financial Partners from $114.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $116.89.

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.