Virtu KCG Holdings LLC bought a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 7,047 shares of the financial services provider’s stock, valued at approximately $443,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its stake in Pinnacle Financial Partners by 0.3% during the 2nd 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 last quarter. Envestnet Asset Management Inc. raised its stake in Pinnacle Financial Partners by 1.2% during the 1st 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 last quarter. M&T Bank Corp raised its stake in Pinnacle Financial Partners by 5.3% during the 2nd quarter. M&T Bank Corp now owns 3,799 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 191 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Pinnacle Financial Partners by 2.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,854 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 209 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Pinnacle Financial Partners by 7.8% during the 1st quarter. Teacher Retirement System of Texas now owns 3,751 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 69.28% of the company’s stock.

Pinnacle Financial Partners, Inc. (NASDAQ PNFP) opened at 66.25 on Friday. The firm has a market capitalization of $5.10 billion, a PE ratio of 21.28 and a beta of 1.31. Pinnacle Financial Partners, Inc. has a 1-year low of $49.40 and a 1-year high of $71.85. The company’s 50-day moving average is $63.90 and its 200 day moving average is $63.49.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.84 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $130.23 million. During the same period in the previous year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year. On average, equities analysts expect that Pinnacle Financial Partners, Inc. will post $3.48 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Virtu KCG Holdings LLC Takes $443,000 Position in Pinnacle Financial Partners, Inc. (PNFP)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was stolen and reposted in violation of United States & international copyright laws. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/10/13/virtu-kcg-holdings-llc-takes-443000-position-in-pinnacle-financial-partners-inc-pnfp.html.

Several research firms recently commented on PNFP. Stephens reiterated a “hold” rating and set a $71.00 target price on shares of Pinnacle Financial Partners in a research note on Thursday, July 20th. Zacks Investment Research cut shares of Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a research note on Wednesday. BidaskClub cut shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. SunTrust Banks, Inc. reiterated a “buy” rating and set a $73.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, October 4th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $72.00 target price on shares of Pinnacle Financial Partners in a research note on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $68.40.

In other news, CEO M Terry Turner sold 101,480 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were 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 owns 538,441 shares of the company’s stock, valued at $34,901,745.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $60.45, for a total transaction of $181,350.00. Following the completion of the sale, the insider now directly owns 61,794 shares of the company’s stock, valued at approximately $3,735,447.30. The disclosure for this sale can be found here. In the last three months, insiders sold 110,480 shares of company stock valued at $7,150,574. 5.41% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding PNFP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle Financial Partners, Inc. (NASDAQ:PNFP).

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.