Fenimore Asset Management Inc. reduced its position in shares of Pinnacle Financial Partners Inc. (NASDAQ:PNFP) by 0.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 358,686 shares of the financial services provider’s stock after selling 800 shares during the period. Fenimore Asset Management Inc. owned about 0.86% of Pinnacle Financial Partners worth $19,398,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PNFP. TIAA CREF Investment Management LLC boosted its stake in Pinnacle Financial Partners by 10.1% in the first quarter. TIAA CREF Investment Management LLC now owns 187,550 shares of the financial services provider’s stock worth $9,201,000 after buying an additional 17,144 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Pinnacle Financial Partners by 314.4% in the first quarter. Teachers Advisors Inc. now owns 241,745 shares of the financial services provider’s stock valued at $11,860,000 after buying an additional 183,403 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Pinnacle Financial Partners by 1.9% in the first quarter. Prudential Financial Inc. now owns 85,104 shares of the financial services provider’s stock valued at $4,175,000 after buying an additional 1,600 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Pinnacle Financial Partners by 48.9% in the first quarter. Franklin Resources Inc. now owns 521,140 shares of the financial services provider’s stock valued at $25,567,000 after buying an additional 171,211 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Pinnacle Financial Partners by 152.4% in the first quarter. BlackRock Inc. now owns 2,542 shares of the financial services provider’s stock valued at $125,000 after buying an additional 1,535 shares during the last quarter. Institutional investors and hedge funds own 63.99% of the company’s stock.

Institutional Ownership by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

Shares of Pinnacle Financial Partners Inc. (NASDAQ:PNFP) opened at 54.60 on Thursday. Pinnacle Financial Partners Inc. has a one year low of $43.32 and a one year high of $57.99. The firm has a 50-day moving average price of $55.42 and a 200 day moving average price of $51.56. The stock has a market capitalization of $2.27 billion, a PE ratio of 20.29 and a beta of 1.54.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. Pinnacle Financial Partners had a return on equity of 9.58% and a net margin of 26.36%. On average, equities analysts expect that Pinnacle Financial Partners Inc. will post $3.03 EPS for the current fiscal year.

Several analysts recently commented on the company. Zacks Investment Research upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. SunTrust Banks Inc. boosted their price target on Pinnacle Financial Partners from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 15th. Piper Jaffray Cos. upgraded Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $51.00 to $60.00 in a research report on Tuesday, July 12th. Finally, Sandler O’Neill cut Pinnacle Financial Partners from a “buy” rating to a “hold” rating and set a $60.00 price target for the company. in a research report on Tuesday, September 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $57.00.

In other news, Director William H. Iv Huddleston sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $53.96, for a total value of $539,600.00. Following the completion of the sale, the director now directly owns 55,863 shares of the company’s stock, valued at approximately $3,014,367.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.30% of the stock is owned by insiders.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc (Pinnacle) is a bank holding company. Pinnacle operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville and Knoxville, Tennessee. As an urban community bank, Pinnacle provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management, offered by large regional and national banks.

5 Day Chart for NASDAQ:PNFP

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