Natixis Advisors LLC Purchases 2,730 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Natixis Advisors LLC increased its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 133,016 shares of the financial services provider’s stock after purchasing an additional 2,730 shares during the period. Natixis Advisors LLC owned approximately 0.17% of Pinnacle Financial Partners worth $15,216,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PNFP. Victory Capital Management Inc. raised its position in Pinnacle Financial Partners by 17.9% during the third quarter. Victory Capital Management Inc. now owns 186,612 shares of the financial services provider’s stock valued at $18,282,000 after purchasing an additional 28,327 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Pinnacle Financial Partners during the 3rd quarter valued at $3,606,000. KBC Group NV lifted its position in Pinnacle Financial Partners by 1,054.3% in the fourth quarter. KBC Group NV now owns 26,722 shares of the financial services provider’s stock worth $3,057,000 after buying an additional 24,407 shares during the last quarter. Artemis Investment Management LLP lifted its position in Pinnacle Financial Partners by 2.6% in the fourth quarter. Artemis Investment Management LLP now owns 482,672 shares of the financial services provider’s stock worth $55,213,000 after buying an additional 12,455 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Pinnacle Financial Partners by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,328,564 shares of the financial services provider’s stock worth $130,192,000 after buying an additional 8,604 shares during the period. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Trading Up 0.7 %

NASDAQ:PNFP opened at $104.51 on Wednesday. The firm has a 50-day simple moving average of $116.09 and a 200-day simple moving average of $111.67. Pinnacle Financial Partners, Inc. has a one year low of $73.62 and a one year high of $131.91. The firm has a market cap of $8.09 billion, a P/E ratio of 17.48 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90.

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

Pinnacle Financial Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 7th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend 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 16.05%.

Insiders Place Their Bets

In other news, Director David B. Ingram sold 40,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was 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 approximately $5,185,361.50. This represents a 49.39 % decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total value of $201,260.00. Following the completion of the sale, the chief executive officer now directly owns 254,552 shares of the company’s stock, valued at $25,615,567.76. The trade was a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,350 shares of company stock worth $11,421,320. 1.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PNFP has been the subject of a number of recent analyst reports. Barclays raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $135.00 in a research note on Thursday, December 19th. Stephens reaffirmed an “overweight” rating and issued a $142.00 price objective on shares of Pinnacle Financial Partners in a research report on Wednesday, January 22nd. Wells Fargo & Company lifted their target price on Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $135.00 price objective (up previously from $115.00) on shares of Pinnacle Financial Partners in a report on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.