Intech Investment Management LLC Acquires 131,442 Shares of Pinnacle Financial Partners, Inc. $PNFP

Intech Investment Management LLC increased its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 1,988.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,052 shares of the financial services provider’s stock after acquiring an additional 131,442 shares during the quarter. Intech Investment Management LLC owned about 0.18% of Pinnacle Financial Partners worth $12,948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PNFP. Covestor Ltd lifted its position in shares of Pinnacle Financial Partners by 193.9% in the 3rd quarter. Covestor Ltd now owns 338 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 223 shares during the period. Quent Capital LLC purchased a new position in shares of Pinnacle Financial Partners during the third quarter valued at about $34,000. Eastern Bank bought a new position in Pinnacle Financial Partners in the third quarter worth about $37,000. Elevation Point Wealth Partners LLC bought a new position in Pinnacle Financial Partners in the second quarter worth about $38,000. Finally, MAI Capital Management lifted its holdings in Pinnacle Financial Partners by 79.4% in the second quarter. MAI Capital Management now owns 366 shares of the financial services provider’s stock worth $40,000 after buying an additional 162 shares during the period. 87.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Raymond James Financial reiterated a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft set a $116.00 price target on Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a report on Monday, January 5th. Evercore reissued an “outperform” rating on shares of Pinnacle Financial Partners in a research report on Thursday, February 5th. Finally, Truist Financial set a $100.00 target price on shares of Pinnacle Financial Partners in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.41.

Insider Transactions at Pinnacle Financial Partners

In other news, CFO Andrew J. Jr. Gregory bought 1,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was acquired at an average cost of $94.52 per share, with a total value of $94,520.00. Following the completion of the acquisition, the chief financial officer owned 49,485 shares of the company’s stock, valued at approximately $4,677,322.20. This represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Trading Up 1.0%

Pinnacle Financial Partners stock opened at $96.30 on Friday. Pinnacle Financial Partners, Inc. has a 12 month low of $81.57 and a 12 month high of $120.46. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03. The business’s fifty day simple moving average is $97.83 and its two-hundred day simple moving average is $94.44. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 24.72%.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.