BidaskClub lowered shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday.

Several other research firms have also recently commented on PNFP. Stephens reiterated a hold rating on shares of Pinnacle Financial Partners in a report on Wednesday, April 19th. Hilliard Lyons reiterated a neutral rating and set a $69.00 price target (down previously from $71.00) on shares of Pinnacle Financial Partners in a report on Saturday, April 22nd. Finally, Zacks Investment Research cut shares of Pinnacle Financial Partners from a buy rating to a hold rating in a report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Pinnacle Financial Partners has an average rating of Hold and an average price target of $65.20.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.80 by $0.04. Pinnacle Financial Partners had a net margin of 27.36% and a return on equity of 7.67%. The company had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $130.23 million. During the same quarter in the previous year, the business posted $0.75 EPS. The firm’s revenue was up 31.4% on a year-over-year basis.

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The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 4th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Wednesday, August 2nd. Pinnacle Financial Partners’s payout ratio is 18.01%.

In related news, Director Joseph C. Galante bought 1,000 shares of the stock in a transaction dated Wednesday, May 31st. The stock was acquired at an average price of $59.73 per share, for a total transaction of $59,730.00. Following the acquisition, the director now owns 18,511 shares in the company, valued at approximately $1,105,662.03. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO M Terry Turner sold 101,480 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $64.82, for a total transaction of $6,577,933.60. Following the completion of the transaction, the chief executive officer now owns 538,441 shares of the company’s stock, valued at approximately $34,901,745.62. The disclosure for this sale can be found here. In the last 90 days, insiders bought 1,425 shares of company stock valued at $86,180 and sold 107,480 shares valued at $6,962,234. Corporate insiders own 5.41% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PNFP. Comerica Bank boosted its position in shares of Pinnacle Financial Partners by 3.6% in the first quarter. Comerica Bank now owns 78,677 shares of the financial services provider’s stock valued at $5,153,000 after buying an additional 2,752 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Pinnacle Financial Partners by 0.4% in the fourth quarter. Teachers Advisors LLC now owns 287,710 shares of the financial services provider’s stock valued at $19,938,000 after buying an additional 1,177 shares during the last quarter. Keybank National Association OH boosted its position in shares of Pinnacle Financial Partners by 8.6% in the first quarter. Keybank National Association OH now owns 38,618 shares of the financial services provider’s stock valued at $2,566,000 after buying an additional 3,049 shares during the last quarter. Swiss National Bank boosted its position in shares of Pinnacle Financial Partners by 7.2% in the first quarter. Swiss National Bank now owns 77,200 shares of the financial services provider’s stock valued at $5,130,000 after buying an additional 5,200 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Pinnacle Financial Partners by 280.4% in the first quarter. First Trust Advisors LP now owns 398,723 shares of the financial services provider’s stock valued at $26,495,000 after buying an additional 293,898 shares during the last quarter. Institutional investors and hedge funds own 77.76% of the company’s stock.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

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