GW&K Investment Management LLC Cuts Stake in Pinnacle Financial Partners, Inc. $PNFP

GW&K Investment Management LLC reduced its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 37.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 451,042 shares of the financial services provider’s stock after selling 275,772 shares during the period. GW&K Investment Management LLC owned about 0.58% of Pinnacle Financial Partners worth $42,303,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its holdings in Pinnacle Financial Partners by 6.2% in the first quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the financial services provider’s stock worth $69,060,000 after purchasing an additional 37,989 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Pinnacle Financial Partners by 13.9% during the 1st quarter. Focus Partners Wealth now owns 4,755 shares of the financial services provider’s stock valued at $504,000 after buying an additional 581 shares during the period. Assetmark Inc. boosted its stake in shares of Pinnacle Financial Partners by 10.1% in the 2nd quarter. Assetmark Inc. now owns 1,741 shares of the financial services provider’s stock worth $192,000 after buying an additional 160 shares during the last quarter. Strs Ohio grew its holdings in shares of Pinnacle Financial Partners by 2.5% in the second quarter. Strs Ohio now owns 14,045 shares of the financial services provider’s stock worth $1,551,000 after acquiring an additional 343 shares during the period. Finally, State of Michigan Retirement System grew its holdings in shares of Pinnacle Financial Partners by 1.1% in the second quarter. State of Michigan Retirement System now owns 18,527 shares of the financial services provider’s stock worth $2,046,000 after acquiring an additional 200 shares during the period. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were purchased at an average cost of $94.52 per share, with a total value of $94,520.00. Following the purchase, the chief financial officer owned 49,485 shares of the company’s stock, valued at $4,677,322.20. This represents a 2.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Stock Up 0.2%

Shares of Pinnacle Financial Partners stock opened at $91.45 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. The company has a market cap of $7.09 billion, a P/E ratio of 11.62, a PEG ratio of 0.48 and a beta of 1.03. The firm’s 50 day moving average price is $97.05 and its 200-day moving average price is $94.44. Pinnacle Financial Partners, Inc. has a 52-week low of $81.57 and a 52-week high of $120.46.

Pinnacle Financial Partners Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were given a dividend of $0.50 per share. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is currently 24.72%.

Analyst Ratings Changes

A number of equities analysts recently commented on PNFP shares. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. JPMorgan Chase & Co. raised their price objective on Pinnacle Financial Partners from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Piper Sandler lifted their price objective on Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft set a $116.00 target price on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a report on Wednesday, January 21st. Finally, Evercore reiterated an “outperform” rating on shares of Pinnacle Financial Partners in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and a consensus target price of $113.41.

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.