Tocqueville Asset Management L.P. lowered its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 17.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,485 shares of the financial services provider’s stock after selling 16,425 shares during the period. Tocqueville Asset Management L.P. owned 0.15% of Pinnacle Financial Partners worth $4,992,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Creative Planning bought a new stake in Pinnacle Financial Partners during the first quarter worth about $107,000. Bank of Montreal Can increased its stake in Pinnacle Financial Partners by 6.7% in the first quarter. Bank of Montreal Can now owns 3,368 shares of the financial services provider’s stock worth $224,000 after buying an additional 211 shares during the period. Louisiana State Employees Retirement System increased its stake in Pinnacle Financial Partners by 9.8% in the first quarter. Louisiana State Employees Retirement System now owns 19,100 shares of the financial services provider’s stock worth $1,269,000 after buying an additional 1,700 shares during the period. State of Alaska Department of Revenue increased its stake in Pinnacle Financial Partners by 10.0% in the first quarter. State of Alaska Department of Revenue now owns 5,190 shares of the financial services provider’s stock worth $344,000 after buying an additional 470 shares during the period. Finally, Glen Harbor Capital Management LLC increased its stake in Pinnacle Financial Partners by 6.8% in the first quarter. Glen Harbor Capital Management LLC now owns 1,716 shares of the financial services provider’s stock worth $114,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 77.76% of the company’s stock.

Shares of Pinnacle Financial Partners, Inc. (PNFP) opened at 60.75 on Thursday. The company’s 50-day moving average is $63.10 and its 200-day moving average is $64.52. Pinnacle Financial Partners, Inc. has a 12-month low of $49.40 and a 12-month high of $71.85. The stock has a market cap of $4.67 billion, a P/E ratio of 19.51 and a beta of 1.27.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.04. The business had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $130.23 million. Pinnacle Financial Partners had a return on equity of 7.67% and a net margin of 27.36%. The business’s revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. On average, equities research analysts anticipate that Pinnacle Financial Partners, Inc. will post $3.47 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 4th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Wednesday, August 2nd. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 18.01%.

ILLEGAL ACTIVITY WARNING: “Pinnacle Financial Partners, Inc. (PNFP) Shares Sold by Tocqueville Asset Management L.P.” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/08/24/pinnacle-financial-partners-inc-pnfp-shares-sold-by-tocqueville-asset-management-l-p.html.

A number of analysts recently issued reports on PNFP shares. BidaskClub upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Stephens restated a “hold” rating and set a $71.00 price objective on shares of Pinnacle Financial Partners in a report on Thursday, July 20th. Finally, Hilliard Lyons upgraded shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $65.60.

In other news, CEO M Terry Turner sold 101,480 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $64.82, for a total value of $6,577,933.60. Following the completion of the sale, the chief executive officer now directly owns 538,441 shares in the company, valued at $34,901,745.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $66.02, for a total value of $198,060.00. Following the completion of the sale, the insider now owns 64,794 shares of the company’s stock, valued at $4,277,699.88. The disclosure for this sale can be found here. Insiders sold 107,480 shares of company stock valued at $6,962,234 over the last 90 days. Company insiders own 5.41% 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.

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

Receive News & Stock Ratings for Pinnacle Financial Partners Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners Inc. and related stocks with our FREE daily email newsletter.