Ronald L. Samuel Sells 5,000 Shares of Pinnacle Financial Partners Inc. (PNFP) Stock
Pinnacle Financial Partners Inc. (NASDAQ:PNFP) Vice Chairman Ronald L. Samuel sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $65.59, for a total transaction of $327,950.00. Following the transaction, the insider now owns 79,794 shares in the company, valued at approximately $5,233,688.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Pinnacle Financial Partners Inc. (NASDAQ:PNFP) opened at 64.10 on Wednesday. Pinnacle Financial Partners Inc. has a 52 week low of $43.32 and a 52 week high of $66.35. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 23.07 and a beta of 1.20. The stock’s 50 day moving average is $55.87 and its 200-day moving average is $53.18.
Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Tuesday, October 18th. The financial services provider reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. Pinnacle Financial Partners had a return on equity of 9.74% and a net margin of 25.83%. The company earned $118.30 million during the quarter, compared to analysts’ expectations of $22.11 million. During the same period last year, the business posted $0.66 EPS. Pinnacle Financial Partners’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts anticipate that Pinnacle Financial Partners Inc. will post $2.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Friday, November 4th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, November 2nd. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 20.22%.
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A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday. Sandler O’Neill cut shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating and set a $60.00 price objective on the stock. in a research report on Tuesday, September 13th. Keefe, Bruyette & Woods cut shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $55.00 price objective on the stock. in a research report on Thursday, October 20th. Finally, Hilliard Lyons lowered shares of Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and lowered their target price for the company from $64.00 to $59.00 in a research note on Thursday, October 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $57.29.
A number of institutional investors have recently made changes to their positions in PNFP. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Pinnacle Financial Partners by 143.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,054 shares of the financial services provider’s stock worth $111,000 after buying an additional 1,211 shares during the period. Advisor Group Inc. bought a new position in shares of Pinnacle Financial Partners during the second quarter valued at about $111,000. Quantbot Technologies LP boosted its position in shares of Pinnacle Financial Partners by 1,902.5% in the third quarter. Quantbot Technologies LP now owns 2,383 shares of the financial services provider’s stock valued at $128,000 after buying an additional 2,264 shares during the last quarter. Strs Ohio boosted its position in shares of Pinnacle Financial Partners by 300.0% in the second quarter. Strs Ohio now owns 2,400 shares of the financial services provider’s stock valued at $117,000 after buying an additional 1,800 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Pinnacle Financial Partners during the second quarter valued at about $125,000. Institutional investors own 69.72% 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.
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