Pinnacle Financial Partners, Inc. (NYSE:PNFP) Shares Will Pay Quarterly Dividend of $0.50

Pinnacle Financial Partners, Inc. (NYSE:PNFP) declared a quarterly dividend on Monday, October 26th. Shareholders of record on Friday, November 6th will be given a dividend of $0.50 per share on Friday, November 27th. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, November 6th.

Pinnacle Financial Partners has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Pinnacle Financial Partners has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pinnacle Financial Partners to earn $11.49 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 17.4%.

Pinnacle Financial Partners Stock Up 0.1%

Shares of NYSE:PNFP opened at $100.47 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.73. Pinnacle Financial Partners has a 52-week low of $81.08 and a 52-week high of $110.33. The company has a 50 day moving average of $97.95 and a two-hundred day moving average of $96.67. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 0.40 and a beta of 1.03.

Pinnacle Financial Partners (NYSE:PNFP) last posted its quarterly earnings data on Wednesday, October 21st. The company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.07. Pinnacle Financial Partners had a net margin of 15.97% and a return on equity of 11.33%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. As a group, analysts forecast that Pinnacle Financial Partners will post 10.22 earnings per share for the current fiscal year.

Insider Activity at Pinnacle Financial Partners

In related news, insider M. Turner sold 54,107 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $108.13, for a total value of $5,850,589.91. Following the sale, the insider directly owned 248,123 shares of the company’s stock, valued at $26,829,539.99. This represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin Blair acquired 2,565 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, September 1st. The shares were bought at an average price of $97.48 per share, for a total transaction of $250,036.20. Following the completion of the purchase, the chief executive officer directly owned 152,397 shares in the company, valued at $14,855,659.56. The trade was a 1.71% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 177,228 shares of company stock valued at $19,153,713 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of institutional investors have recently modified their holdings of the stock. Brown Financial Advisors boosted its stake in shares of Pinnacle Financial Partners by 2.7% during the 2nd quarter. Brown Financial Advisors now owns 4,019 shares of the company’s stock valued at $405,000 after purchasing an additional 105 shares in the last quarter. Simplicity Wealth LLC raised its stake in Pinnacle Financial Partners by 1.5% in the first quarter. Simplicity Wealth LLC now owns 9,155 shares of the company’s stock worth $789,000 after buying an additional 131 shares in the last quarter. Cahaba Wealth Management Inc. raised its stake in Pinnacle Financial Partners by 0.5% in the third quarter. Cahaba Wealth Management Inc. now owns 27,090 shares of the company’s stock worth $2,536,000 after buying an additional 133 shares in the last quarter. Swmg LLC lifted its holdings in Pinnacle Financial Partners by 7.1% in the third quarter. Swmg LLC now owns 2,273 shares of the company’s stock worth $228,000 after buying an additional 150 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Pinnacle Financial Partners by 97.7% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 350 shares of the company’s stock worth $30,000 after buying an additional 173 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc is a bank holding company headquartered in Nashville, Tennessee. Through its primary subsidiary, Pinnacle Bank, the company provides banking and financial services to businesses, professionals, entrepreneurs and individuals.

Its offerings include commercial and consumer loans, deposit accounts, treasury and cash-management services, mortgage lending, investment and wealth-management services, trust services and insurance solutions. Pinnacle emphasizes relationship-based banking and serves clients through offices and financial professionals in Tennessee and selected markets in the Carolinas and Virginia.

Founded in 2000, Pinnacle has expanded from its Nashville base into a broader regional banking franchise through organic growth and acquisitions.