Gamco Investors INC. ET AL purchased a new position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,853 shares of the financial services provider’s stock, valued at approximately $493,000.

Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in Pinnacle Financial Partners by 56,554.1% in the first quarter. BlackRock Inc. now owns 5,632,547 shares of the financial services provider’s stock worth $374,283,000 after buying an additional 5,622,605 shares during the last quarter. Vanguard Group Inc. increased its position in Pinnacle Financial Partners by 11.0% in the first quarter. Vanguard Group Inc. now owns 4,094,690 shares of the financial services provider’s stock worth $272,092,000 after buying an additional 407,046 shares during the last quarter. State Street Corp increased its position in Pinnacle Financial Partners by 27.0% in the first quarter. State Street Corp now owns 1,913,478 shares of the financial services provider’s stock worth $127,146,000 after buying an additional 406,536 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Pinnacle Financial Partners by 9.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,364,120 shares of the financial services provider’s stock worth $90,646,000 after buying an additional 120,326 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Pinnacle Financial Partners by 13.3% in the first quarter. Victory Capital Management Inc. now owns 1,103,499 shares of the financial services provider’s stock worth $73,328,000 after buying an additional 129,328 shares during the last quarter. 69.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) opened at 62.10 on Thursday. Pinnacle Financial Partners, Inc. has a 52 week low of $49.40 and a 52 week high of $71.85. The stock has a market capitalization of $4.78 billion, a PE ratio of 19.95 and a beta of 1.27. The company’s 50 day moving average price is $62.98 and its 200-day moving average price is $64.45.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Tuesday, July 18th. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.04. The company had revenue of $141.70 million during the quarter, compared to the consensus estimate of $130.23 million. Pinnacle Financial Partners had a return on equity of 7.67% and a net margin of 27.36%. The company’s revenue was up 31.4% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. Equities research analysts predict that Pinnacle Financial Partners, Inc. will post $3.46 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 4th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $0.56 annualized dividend and a dividend yield of 0.90%. Pinnacle Financial Partners’s dividend payout ratio is presently 18.01%.

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PNFP has been the topic of a number of recent research reports. BidaskClub raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Hilliard Lyons raised Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Wednesday, August 23rd. Finally, Stephens reissued a “hold” rating and set a $71.00 price target on shares of Pinnacle Financial Partners in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $65.60.

In other news, CEO M Terry Turner sold 101,480 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $64.82, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $62.08, for a total value of $186,240.00. Following the sale, the insider now owns 67,794 shares of the company’s stock, valued at $4,208,651.52. The disclosure for this sale can be found here. Insiders have sold 110,480 shares of company stock valued at $7,143,584 over the last 90 days. Insiders own 5.41% of the company’s stock.

Pinnacle Financial Partners Company Profile

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)

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