Pinnacle Financial Partners, Inc. $PNFP Shares Sold by Walleye Capital LLC

Walleye Capital LLC cut its holdings in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 48.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,405 shares of the company’s stock after selling 9,597 shares during the period. Walleye Capital LLC’s holdings in Pinnacle Financial Partners were worth $896,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in Pinnacle Financial Partners by 1,697.4% during the 3rd 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Pinnacle Financial Partners by 80.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,035,295 shares of the company’s stock valued at $433,712,000 after purchasing an additional 2,244,659 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Pinnacle Financial Partners in the third quarter valued at about $187,822,000. Alyeska Investment Group L.P. acquired a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at approximately $159,545,000. Finally, Norges Bank acquired a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at approximately $116,349,000. 87.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNFP has been the subject of a number of recent research reports. Robert W. Baird assumed coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price objective for the company. Weiss Ratings upgraded Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. UBS Group raised their price target on Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. TD Cowen cut their price target on Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating for the company in a report on Monday, April 27th. Finally, Evercore restated an “outperform” rating and issued a $120.00 price objective on shares of Pinnacle Financial Partners in a research report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Pinnacle Financial Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.65.

Pinnacle Financial Partners Stock Up 2.7%

PNFP stock opened at $102.53 on Friday. Pinnacle Financial Partners, Inc. has a 52-week low of $81.08 and a 52-week high of $107.00. The business’s fifty day simple moving average is $97.90. The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $7.95 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.40 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%. As a group, analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.18 earnings per share for the current fiscal year.

Pinnacle Financial Partners Profile

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.