one8zero8 LLC Buys Shares of 2,065 Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

one8zero8 LLC bought a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,065 shares of the financial services provider’s stock, valued at approximately $236,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Pinnacle Financial Partners during the 3rd quarter worth $70,000. UMB Bank n.a. boosted its holdings in Pinnacle Financial Partners by 48.1% in the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 239 shares in the last quarter. Principal Securities Inc. grew its stake in shares of Pinnacle Financial Partners by 12.7% during the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 91 shares during the last quarter. Trust Co. of Vermont purchased a new position in shares of Pinnacle Financial Partners in the 4th quarter valued at approximately $97,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in Pinnacle Financial Partners in the 3rd quarter worth approximately $137,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Pinnacle Financial Partners news, Director David B. Ingram sold 40,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $126.50, for a total transaction of $5,060,000.00. Following the transaction, the director now directly owns 40,991 shares of the company’s stock, valued at $5,185,361.50. This trade represents a 49.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO M Terry Turner sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total transaction of $201,260.00. Following the sale, the chief executive officer now directly owns 254,552 shares of the company’s stock, valued at $25,615,567.76. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,350 shares of company stock valued at $11,116,670. 1.46% of the stock is owned by company insiders.

Pinnacle Financial Partners Trading Up 2.8 %

Pinnacle Financial Partners stock opened at $102.82 on Monday. The firm has a market cap of $7.95 billion, a PE ratio of 17.19 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a 12 month low of $73.62 and a 12 month high of $131.91. The stock’s 50 day simple moving average is $116.52 and its two-hundred day simple moving average is $111.60. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.80 by $0.10. The company had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The firm’s revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the business earned $1.68 earnings per share. Analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Friday, February 7th. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s payout ratio is currently 16.05%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup upped their price target on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. Barclays upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $120.00 to $135.00 in a research note on Thursday, December 19th. Wells Fargo & Company boosted their price target on Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. UBS Group initiated coverage on Pinnacle Financial Partners in a report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $125.18.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.