UBS Asset Management Americas Inc. cut its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 14.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,393 shares of the financial services provider’s stock after selling 27,927 shares during the period. UBS Asset Management Americas Inc. owned 0.30% of Pinnacle Financial Partners worth $10,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of PNFP. Oppenheimer Asset Management Inc. acquired a new stake in Pinnacle Financial Partners in the first quarter valued at $151,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Pinnacle Financial Partners by 61.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,464 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 935 shares in the last quarter. Sei Investments Co. raised its holdings in Pinnacle Financial Partners by 270.5% in the first quarter. Sei Investments Co. now owns 2,638 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 1,926 shares in the last quarter. Creative Planning raised its holdings in Pinnacle Financial Partners by 100.2% in the second quarter. Creative Planning now owns 3,218 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 1,611 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its holdings in Pinnacle Financial Partners by 149.7% in the second quarter. Riverhead Capital Management LLC now owns 3,496 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 2,096 shares in the last quarter. 69.28% of the stock is currently owned by hedge funds and other institutional investors.

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PNFP has been the topic of several recent analyst reports. BidaskClub raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Stephens reaffirmed a “hold” rating and issued a $71.00 price target on shares of Pinnacle Financial Partners in a report on Thursday, July 20th. Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Wednesday, August 23rd. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $73.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $72.00 price target on shares of Pinnacle Financial Partners in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $68.40.

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) opened at 67.20 on Friday. Pinnacle Financial Partners, Inc. has a one year low of $49.40 and a one year high of $71.85. The firm’s 50 day moving average is $62.92 and its 200-day moving average is $63.39. The firm has a market capitalization of $5.17 billion, a PE ratio of 21.59 and a beta of 1.31.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its 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. The firm 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%. Pinnacle Financial Partners’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share. On average, equities research analysts predict that Pinnacle Financial Partners, Inc. will post $3.47 earnings per share for the current fiscal year.

In other news, Director Joseph C. Galante bought 1,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, September 7th. The stock was purchased at an average cost of $59.40 per share, with a total value of $59,400.00. Following the completion of the transaction, the director now directly owns 19,011 shares in the company, valued at $1,129,253.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $60.45, for a total value of $181,350.00. Following the completion of the transaction, the insider now directly owns 61,794 shares of the company’s stock, valued at $3,735,447.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,480 shares of company stock valued at $7,150,574. 5.41% of the stock is owned by company insiders.

Pinnacle Financial Partners 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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