Pinnacle Financial Partners, Inc. (PNFP) To Go Ex-Dividend on August 7th

Pinnacle Financial Partners, Inc. (NYSE:PNFP) announced a quarterly dividend on Monday, July 27th. Stockholders of record on Friday, August 7th will be given a dividend of 0.50 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, August 7th.

Pinnacle Financial Partners has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 years. Pinnacle Financial Partners has a payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Pinnacle Financial Partners to earn $11.50 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 17.4%.

Pinnacle Financial Partners Stock Performance

NYSE:PNFP opened at $105.34 on Wednesday. Pinnacle Financial Partners has a one year low of $81.08 and a one year high of $107.00. The firm has a market capitalization of $8.17 billion, a PE ratio of 14.47, a PEG ratio of 0.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a 50 day moving average of $98.29.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.04. The firm 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%. As a group, analysts predict that Pinnacle Financial Partners will post 10.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pinnacle Financial Partners news, insider Robert A. Mccabe, Jr. acquired 10,013 shares of the stock in a transaction on Friday, July 24th. The shares were bought at an average cost of $99.90 per share, with a total value of $1,000,298.70. Following the transaction, the insider owned 324,233 shares of the company’s stock, valued at approximately $32,390,876.70. This trade represents a 3.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Pinnacle Financial Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Resources Management Corp CT ADV purchased a new position in shares of Pinnacle Financial Partners in the 1st quarter valued at approximately $26,000. Brown Brothers Harriman & Co. acquired a new position in shares of Pinnacle Financial Partners in the third quarter valued at approximately $26,000. High Point Wealth Management LLC purchased a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth approximately $27,000. BOKF NA lifted its holdings in shares of Pinnacle Financial Partners by 1,204.5% during the third quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the period. Finally, Activest Wealth Management acquired a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth $28,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

About Pinnacle Financial Partners

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.