Sanctuary Advisors LLC Sells 410 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Sanctuary Advisors LLC lessened its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,055 shares of the financial services provider’s stock after selling 410 shares during the quarter. Sanctuary Advisors LLC’s holdings in Pinnacle Financial Partners were worth $3,407,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Creative Planning lifted its stake in Pinnacle Financial Partners by 9.4% during the 3rd quarter. Creative Planning now owns 18,710 shares of the financial services provider’s stock valued at $1,833,000 after acquiring an additional 1,614 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Pinnacle Financial Partners by 10.6% during the third quarter. Blue Trust Inc. now owns 1,315 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 126 shares in the last quarter. Raymond James & Associates boosted its holdings in Pinnacle Financial Partners by 2.5% during the third quarter. Raymond James & Associates now owns 208,850 shares of the financial services provider’s stock worth $20,461,000 after purchasing an additional 5,134 shares during the last quarter. Signaturefd LLC grew its position in Pinnacle Financial Partners by 4.4% in the 3rd quarter. Signaturefd LLC now owns 5,190 shares of the financial services provider’s stock worth $508,000 after purchasing an additional 218 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Pinnacle Financial Partners by 9,804.4% in the 3rd quarter. International Assets Investment Management LLC now owns 36,151 shares of the financial services provider’s stock valued at $3,542,000 after buying an additional 35,786 shares during the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 3,051 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $125.57, for a total value of $383,114.07. Following the completion of the transaction, the chief financial officer now directly owns 60,805 shares of the company’s stock, valued at $7,635,283.85. This trade represents a 4.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $124.09, for a total transaction of $6,204,500.00. Following the completion of the transaction, the chairman now directly owns 123,000 shares in the company, valued at approximately $15,263,070. The trade was a 28.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 126,970 shares of company stock worth $15,922,061 in the last quarter. 1.87% of the stock is owned by company insiders.

Pinnacle Financial Partners Stock Performance

NASDAQ PNFP opened at $114.21 on Friday. The firm has a market cap of $8.82 billion, a P/E ratio of 19.10 and a beta of 1.09. 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 company’s 50 day moving average is $118.68 and its 200-day moving average is $109.45. Pinnacle Financial Partners, Inc. has a 12-month low of $73.62 and a 12-month high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.10. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The business had revenue of $475.34 million for the quarter, compared to analysts’ expectations of $470.33 million. During the same quarter in the previous year, the firm posted $1.68 EPS. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. Sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Increases Dividend

The business 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 is a boost from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a yield of 0.84%. Pinnacle Financial Partners’s dividend payout ratio is 16.05%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Stephens restated an “overweight” rating and issued a $142.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Hovde Group cut Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 target price on the stock. in a research note on Monday, November 18th. Citigroup boosted their price target on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st. Finally, UBS Group began coverage on shares of Pinnacle Financial Partners in a report on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price objective for the company. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $125.18.

About Pinnacle Financial Partners

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.