Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Director Joseph C. Galante purchased 1,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were bought at an average price of $59.40 per share, for a total transaction of $59,400.00. Following the purchase, the director now directly owns 19,011 shares in the company, valued at approximately $1,129,253.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of Pinnacle Financial Partners, Inc. (PNFP) traded up 2.34% during midday trading on Monday, hitting $61.35. 495,904 shares of the company’s stock were exchanged. The firm has a market cap of $4.72 billion, a PE ratio of 19.71 and a beta of 1.29. The stock’s 50-day moving average price is $62.22 and its 200 day moving average price is $63.88. Pinnacle Financial Partners, Inc. has a one year low of $49.40 and a one year high of $71.85.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, July 18th. The financial services provider reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.04. Pinnacle Financial Partners had a return on equity of 7.67% and a net margin of 27.36%. The company had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $130.23 million. During the same period in the prior year, the business posted $0.75 EPS. The business’s revenue was up 31.4% on a year-over-year basis. Equities research analysts forecast that Pinnacle Financial Partners, Inc. will post $3.47 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 4th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.91%. The ex-dividend date was Wednesday, August 2nd. Pinnacle Financial Partners’s dividend payout ratio is presently 18.01%.

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Several analysts have recently commented on PNFP shares. BidaskClub raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Wednesday, August 23rd. Finally, Stephens reaffirmed a “hold” rating and issued a $71.00 price objective on shares of Pinnacle Financial Partners in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Pinnacle Financial Partners currently has an average rating of “Hold” and an average price target of $65.60.

Several institutional investors and hedge funds have recently modified their holdings of the company. Alps Advisors Inc. increased its holdings in shares of Pinnacle Financial Partners by 0.3% during the second quarter. Alps Advisors Inc. now owns 7,121 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 19 shares during the period. 1st Global Advisors Inc. increased its holdings in shares of Pinnacle Financial Partners by 1.1% during the first quarter. 1st Global Advisors Inc. now owns 3,823 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 42 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Pinnacle Financial Partners by 1.2% during the first quarter. Envestnet Asset Management Inc. now owns 6,557 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 80 shares during the period. Glen Harbor Capital Management LLC increased its holdings in shares of Pinnacle Financial Partners by 6.8% during the first quarter. Glen Harbor Capital Management LLC now owns 1,716 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 110 shares during the period. Finally, Elkfork Partners LLC increased its holdings in shares of Pinnacle Financial Partners by 6.8% during the first quarter. Elkfork Partners LLC now owns 2,184 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 140 shares during the period. 69.28% of the stock is currently owned by institutional investors.

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.

Insider Buying and Selling by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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