Stieven Capital Advisors L.P. Decreases Stock Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Stieven Capital Advisors L.P. lowered its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 29.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,598 shares of the financial services provider’s stock after selling 43,102 shares during the period. Pinnacle Financial Partners comprises 2.1% of Stieven Capital Advisors L.P.’s holdings, making the stock its 23rd largest position. Stieven Capital Advisors L.P. owned approximately 0.13% of Pinnacle Financial Partners worth $11,622,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Pinnacle Financial Partners in the 3rd quarter worth about $30,000. Values First Advisors Inc. bought a new position in shares of Pinnacle Financial Partners during the 3rd quarter valued at approximately $49,000. Brooklyn Investment Group purchased a new stake in shares of Pinnacle Financial Partners during the 3rd quarter worth approximately $70,000. UMB Bank n.a. raised its holdings in shares of Pinnacle Financial Partners by 48.1% in the 4th quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 239 shares during the period. Finally, Trust Co. of Vermont purchased a new position in Pinnacle Financial Partners in the fourth quarter valued at approximately $97,000. Institutional investors own 87.40% of the company’s stock.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 3,051 shares of Pinnacle Financial Partners stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $125.57, for a total transaction of $383,114.07. Following the completion of the sale, the chief financial officer now owns 60,805 shares of the company’s stock, valued at $7,635,283.85. The trade was a 4.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David B. Ingram sold 20,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $126.02, for a total value of $2,520,400.00. Following the transaction, the director now owns 92,565 shares in the company, valued at $11,665,041.30. This trade represents a 17.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,970 shares of company stock worth $15,922,061 over the last three months. 1.87% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PNFP shares. UBS Group initiated coverage on Pinnacle Financial Partners in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 target price for the company. Citigroup lifted their price objective on Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st. Wells Fargo & Company upped their price objective on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Truist Financial lifted 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. Finally, Hovde Group cut shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price target on the stock. in a research note on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $125.18.

Pinnacle Financial Partners Stock Up 0.3 %

PNFP opened at $120.24 on Friday. The firm has a market capitalization of $9.29 billion, a P/E ratio of 20.11 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a one year low of $73.62 and a one year high of $131.91. The company has a fifty day moving average price of $118.70 and a 200-day moving average price of $108.79. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick 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 EPS for the quarter, topping the consensus estimate 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 business had revenue of $475.34 million during the quarter, compared to analysts’ expectations of $470.33 million. During the same period in the previous year, the business earned $1.68 earnings per share. The firm’s revenue was up 19.9% on a year-over-year basis. Equities research analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 7th will be paid a $0.24 dividend. This is an increase from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Friday, February 7th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 14.72%.

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.