D.A. Davidson & CO. Takes $491,000 Position in Pinnacle Financial Partners, Inc. $PNFP

D.A. Davidson & CO. acquired a new position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,702 shares of the company’s stock, valued at approximately $491,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Yousif Capital Management LLC lifted its stake in shares of Pinnacle Financial Partners by 92.4% in the 4th quarter. Yousif Capital Management LLC now owns 46,456 shares of the company’s stock valued at $4,519,000 after purchasing an additional 22,306 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Pinnacle Financial Partners by 122.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 16,188 shares of the company’s stock valued at $1,544,000 after purchasing an additional 8,927 shares during the last quarter. M&T Bank Corp raised its position in shares of Pinnacle Financial Partners by 283.3% in the fourth quarter. M&T Bank Corp now owns 27,583 shares of the company’s stock valued at $2,632,000 after purchasing an additional 20,386 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Pinnacle Financial Partners by 96.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 92,374 shares of the company’s stock valued at $9,032,000 after purchasing an additional 45,301 shares during the period. Finally, Impax Asset Management Group plc lifted its stake in shares of Pinnacle Financial Partners by 21.0% in the fourth quarter. Impax Asset Management Group plc now owns 421,413 shares of the company’s stock worth $41,298,000 after buying an additional 73,176 shares during the last quarter. Institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Performance

Shares of NYSE PNFP opened at $102.53 on Friday. Pinnacle Financial Partners, Inc. has a 52-week low of $81.08 and a 52-week high of $107.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.90 and a current ratio of 0.94. The firm’s fifty day moving average is $97.90. The company has a market capitalization of $7.95 billion, a PE ratio of 14.08, a PEG ratio of 0.40 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP) last posted its earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. Analysts predict that Pinnacle Financial Partners, Inc. will post 10.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Evercore restated an “outperform” rating and set a $120.00 target price on shares of Pinnacle Financial Partners in a research note on Monday, July 6th. Benchmark lowered their price target on Pinnacle Financial Partners from $132.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday. Truist Financial raised their price objective on Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Wall Street Zen raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, Citigroup boosted their price objective on Pinnacle Financial Partners from $122.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $116.65.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.