Hsbc Holdings PLC Makes New Investment in Pinnacle Financial Partners, Inc. $PNFP

Hsbc Holdings PLC purchased a new stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the 2nd quarter, HoldingsChannel reports. The fund purchased 60,988 shares of the company’s stock, valued at approximately $6,154,000.

A number of other large investors have also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its position in shares of Pinnacle Financial Partners by 1.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company’s stock worth $704,000 after purchasing an additional 116 shares during the last quarter. Villanova Investment Management Co LLC raised its stake in Pinnacle Financial Partners by 0.4% in the fourth quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock valued at $2,720,000 after purchasing an additional 118 shares in the last quarter. Simplicity Wealth LLC lifted its position in Pinnacle Financial Partners by 1.5% during the first quarter. Simplicity Wealth LLC now owns 9,155 shares of the company’s stock valued at $789,000 after purchasing an additional 131 shares during the last quarter. Graham Capital Management L.P. lifted its position in Pinnacle Financial Partners by 0.7% during the fourth quarter. Graham Capital Management L.P. now owns 22,169 shares of the company’s stock valued at $2,115,000 after purchasing an additional 146 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Pinnacle Financial Partners by 3.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,097 shares of the company’s stock worth $486,000 after buying an additional 158 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

Wall Street Analysts Forecast Growth

PNFP has been the topic of several research reports. Wall Street Zen upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Stephens set a $112.00 price target on Pinnacle Financial Partners in a research report on Monday, July 27th. TD Cowen upped their price objective on Pinnacle Financial Partners from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Robert W. Baird began coverage on Pinnacle Financial Partners in a report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price objective on the stock. Finally, Truist Financial raised their price objective on Pinnacle Financial Partners from $115.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.35.

Pinnacle Financial Partners Stock Up 0.1%

Pinnacle Financial Partners stock opened at $101.08 on Friday. The stock has a fifty day simple moving average of $102.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.93. Pinnacle Financial Partners, Inc. has a twelve month low of $81.08 and a twelve month high of $110.33. The company has a market capitalization of $7.84 billion, a P/E ratio of 13.88, a PEG ratio of 0.40 and a beta of 1.03.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%.The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. As a group, equities analysts expect that Pinnacle Financial Partners, Inc. will post 10.19 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 7th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, August 7th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 27.47%.

Insider Activity at Pinnacle Financial Partners

In other news, insider M Terry Turner sold 66,783 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $108.01, for a total transaction of $7,213,231.83. Following the completion of the sale, the insider owned 302,230 shares of the company’s stock, valued at approximately $32,643,862.30. This represents a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert A. Mccabe, Jr. bought 10,013 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was purchased at an average price of $99.90 per share, for a total transaction of $1,000,298.70. Following the acquisition, the insider directly owned 324,233 shares of the company’s stock, valued at approximately $32,390,876.70. The trade was a 3.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 177,228 shares of company stock worth $19,153,713. 1.30% of the stock is owned by corporate insiders.

Pinnacle Financial Partners Company 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.