Danske Bank A S Makes New $4.35 Million Investment in Pinnacle Financial Partners, Inc. $PNFP

Danske Bank A S purchased a new position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the second quarter, HoldingsChannel reports. The firm purchased 43,100 shares of the company’s stock, valued at approximately $4,348,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Pinnacle Financial Partners in the second quarter worth about $1,704,708,000. AQR Capital Management LLC grew its holdings in Pinnacle Financial Partners by 63.1% during the 4th quarter. AQR Capital Management LLC now owns 5,330,170 shares of the company’s stock valued at $508,551,000 after buying an additional 2,062,504 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Pinnacle Financial Partners by 80.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,035,295 shares of the company’s stock valued at $433,712,000 after buying an additional 2,244,659 shares in the last quarter. State Street Corp raised its position in shares of Pinnacle Financial Partners by 5.5% during the fourth quarter. State Street Corp now owns 3,451,939 shares of the company’s stock valued at $329,350,000 after buying an additional 179,819 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Pinnacle Financial Partners by 42.2% in the fourth quarter. Wellington Management Group LLP now owns 3,067,116 shares of the company’s stock worth $292,634,000 after buying an additional 910,367 shares in the last quarter. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Stock Up 0.4%

PNFP stock opened at $102.37 on Friday. The company’s fifty day moving average price is $101.63. The company has a market capitalization of $7.94 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 0.41 and a beta of 1.03. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.93. Pinnacle Financial Partners, Inc. has a twelve month low of $81.08 and a twelve month high of $110.33.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.46 by $0.04. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. As a group, equities research analysts expect that Pinnacle Financial Partners, Inc. will post 10.19 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 7th. Pinnacle Financial Partners’s dividend payout ratio is 27.47%.

Analyst Ratings Changes

Several equities analysts recently weighed in on PNFP shares. Stephens set a $112.00 target price on shares of Pinnacle Financial Partners in a research note on Monday, July 27th. Weiss Ratings upgraded Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. JPMorgan Chase & Co. cut their price target on Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, July 24th. UBS Group increased their target price on Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Wells Fargo & Company upped their price target on shares of Pinnacle Financial Partners from $111.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Two investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.35.

Insiders Place Their Bets

In related news, insider Robert A. Mccabe, Jr. bought 10,013 shares of the stock in a transaction dated Friday, July 24th. The stock was purchased at an average cost of $99.90 per share, with a total value of $1,000,298.70. Following the completion of the purchase, the insider owned 324,233 shares of the company’s stock, valued at $32,390,876.70. This trade represents a 3.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider M Terry Turner sold 54,107 shares of Pinnacle Financial Partners stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $108.13, for a total transaction of $5,850,589.91. Following the sale, the insider owned 248,123 shares of the company’s stock, valued at $26,829,539.99. The trade was a 17.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 177,228 shares of company stock worth $19,153,713. Insiders own 1.30% of the company’s stock.

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.