Hunter Perkins Capital Management LLC Purchases 545 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Hunter Perkins Capital Management LLC grew its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,690 shares of the financial services provider’s stock after purchasing an additional 545 shares during the quarter. Hunter Perkins Capital Management LLC’s holdings in Pinnacle Financial Partners were worth $1,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Pinnacle Financial Partners in the 3rd quarter worth about $30,000. UMB Bank n.a. increased its holdings in Pinnacle Financial Partners by 83.4% during the third quarter. UMB Bank n.a. now owns 497 shares of the financial services provider’s stock valued at $49,000 after buying an additional 226 shares during the last quarter. Values First Advisors Inc. bought a new position in Pinnacle Financial Partners in the 3rd quarter worth $49,000. Quarry LP grew its holdings in Pinnacle Financial Partners by 3,500.0% during the second quarter. Quarry LP now owns 756 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 735 shares during the period. Finally, Brooklyn Investment Group bought a new stake in Pinnacle Financial Partners during the third quarter valued at about $70,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Insider Buying and Selling

In related news, Director David B. Ingram sold 3,610 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $126.07, for a total transaction of $455,112.70. Following the completion of the transaction, the director now owns 139,489 shares in the company, valued at $17,585,378.23. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Harold R. Carpenter sold 3,051 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $125.57, for a total transaction of $383,114.07. Following the sale, the chief financial officer now directly owns 60,805 shares of the company’s stock, valued at $7,635,283.85. The trade was a 4.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,661 shares of company stock valued at $9,563,127 over the last 90 days. Corporate insiders own 1.87% of the company’s stock.

Pinnacle Financial Partners Trading Up 0.8 %

Shares of NASDAQ PNFP opened at $123.28 on Monday. Pinnacle Financial Partners, Inc. has a twelve month low of $73.62 and a twelve month high of $131.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $119.31 and a two-hundred day simple moving average of $105.71. The firm has a market cap of $9.52 billion, a PE ratio of 20.62 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data 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. The company had revenue of $475.34 million during the quarter, compared to analyst estimates of $470,334.57 billion. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.68 earnings per share. Analysts expect that Pinnacle Financial Partners, Inc. will post 7.56 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 7th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.78%. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, February 7th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 14.72%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Truist Financial raised their target price on shares of Pinnacle Financial Partners from $113.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Stephens reiterated an “overweight” rating and issued a $142.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. UBS Group began coverage on Pinnacle Financial Partners in a research note on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price target for the company. Finally, Barclays raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $120.00 to $135.00 in a research note on Thursday, December 19th. 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 company presently has a consensus rating of “Hold” and a consensus price target of $125.18.

Pinnacle Financial Partners Company 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.