Pinnacle Financial Partners Inc. (NASDAQ:PNFP) announced its earnings results on Tuesday. The financial services provider reported $0.78 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.78. Pinnacle Financial Partners had a net margin of 26.36% and a return on equity of 9.58%.

Shares of Pinnacle Financial Partners (NASDAQ:PNFP) traded up 0.58% during midday trading on Tuesday, hitting $53.61. 166,756 shares of the stock traded hands. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 19.92 and a beta of 1.55. The firm’s 50-day moving average is $55.21 and its 200 day moving average is $51.70. Pinnacle Financial Partners has a 52 week low of $43.32 and a 52 week high of $57.99.

Earnings History for Pinnacle Financial Partners (NASDAQ:PNFP)

A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Sandler O’Neill downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating and set a $60.00 target price for the company. in a research note on Tuesday, September 13th. SunTrust Banks Inc. lifted their price target on shares of Pinnacle Financial Partners from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 15th. Finally, Piper Jaffray Cos. upgraded shares of Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $51.00 to $60.00 in a research report on Tuesday, July 12th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Pinnacle Financial Partners currently has a consensus rating of “Buy” and a consensus target price of $57.00.

In related news, Director William H. Iv Huddleston sold 10,000 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the transaction, the director now directly owns 55,863 shares in the company, valued at $3,014,367.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in PNFP. TIAA CREF Investment Management LLC increased its stake in shares of Pinnacle Financial Partners by 7.5% in the second quarter. TIAA CREF Investment Management LLC now owns 201,555 shares of the financial services provider’s stock worth $9,846,000 after buying an additional 14,005 shares during the last quarter. American International Group Inc. increased its stake in shares of Pinnacle Financial Partners by 9.8% in the second quarter. American International Group Inc. now owns 29,615 shares of the financial services provider’s stock worth $1,447,000 after buying an additional 2,651 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Pinnacle Financial Partners by 4.8% in the second quarter. Fifth Third Bancorp now owns 16,931 shares of the financial services provider’s stock worth $827,000 after buying an additional 775 shares during the last quarter. Comerica Bank increased its stake in shares of Pinnacle Financial Partners by 7.7% in the second quarter. Comerica Bank now owns 38,800 shares of the financial services provider’s stock worth $2,089,000 after buying an additional 2,760 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of Pinnacle Financial Partners by 12.1% in the second quarter. Public Sector Pension Investment Board now owns 27,719 shares of the financial services provider’s stock worth $1,354,000 after buying an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 63.97% of the company’s stock.

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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