Intech Investment Management LLC Raises Stock Holdings in Pinnacle Financial Partners, Inc. $PNFP

Intech Investment Management LLC raised its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 1,988.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 138,052 shares of the financial services provider’s stock after acquiring an additional 131,442 shares during the period. Intech Investment Management LLC’s holdings in Pinnacle Financial Partners were worth $12,948,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Covestor Ltd raised its holdings in shares of Pinnacle Financial Partners by 193.9% during the third quarter. Covestor Ltd now owns 338 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 223 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Pinnacle Financial Partners in the 2nd quarter worth approximately $38,000. Quent Capital LLC bought a new stake in Pinnacle Financial Partners in the 3rd quarter worth approximately $34,000. MAI Capital Management raised its stake in Pinnacle Financial Partners by 79.4% during the 2nd quarter. MAI Capital Management now owns 366 shares of the financial services provider’s stock valued at $40,000 after buying an additional 162 shares during the last quarter. Finally, Spurstone Advisory Services LLC bought a new position in shares of Pinnacle Financial Partners during the 2nd quarter valued at $41,000. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Stock Up 1.0%

NASDAQ PNFP opened at $96.30 on Friday. Pinnacle Financial Partners, Inc. has a 52 week low of $81.57 and a 52 week high of $120.46. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $7.47 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03. The stock’s 50-day moving average price is $97.83 and its 200-day moving average price is $94.44.

Pinnacle Financial Partners Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 24.72%.

Insider Buying and Selling

In other news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the stock in a transaction on Thursday, February 12th. The shares were acquired at an average price of $94.52 per share, with a total value of $94,520.00. Following the completion of the acquisition, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at $4,677,322.20. This trade represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PNFP. Truist Financial set a $100.00 price target on Pinnacle Financial Partners in a research note on Friday, January 9th. Royal Bank Of Canada raised Pinnacle Financial Partners to a “moderate buy” rating in a research report on Monday, January 5th. Evercore restated an “outperform” rating on shares of Pinnacle Financial Partners in a research note on Thursday, February 5th. Keefe, Bruyette & Woods upped their price target on shares of Pinnacle Financial Partners from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Friday, January 9th. Finally, Barclays raised their price objective on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $113.41.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.