46,672 Shares in Pinnacle Financial Partners (PNFP) Purchased by MetLife Investment Advisors LLC

MetLife Investment Advisors LLC acquired a new stake in shares of Pinnacle Financial Partners (NASDAQ:PNFP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 46,672 shares of the financial services provider’s stock, valued at approximately $3,094,000. MetLife Investment Advisors LLC owned 0.06% of Pinnacle Financial Partners at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Millennium Management LLC grew its position in shares of Pinnacle Financial Partners by 36.5% in the 4th quarter. Millennium Management LLC now owns 248,598 shares of the financial services provider’s stock worth $16,482,000 after buying an additional 66,477 shares during the period. Meadow Creek Investment Management LLC grew its position in shares of Pinnacle Financial Partners by 34.5% in the 4th quarter. Meadow Creek Investment Management LLC now owns 10,744 shares of the financial services provider’s stock worth $712,000 after buying an additional 2,754 shares during the period. Teachers Advisors LLC grew its position in shares of Pinnacle Financial Partners by 11.9% in the 4th quarter. Teachers Advisors LLC now owns 118,485 shares of the financial services provider’s stock worth $7,856,000 after buying an additional 12,585 shares during the period. Raymond James & Associates grew its position in shares of Pinnacle Financial Partners by 1.0% in the 4th quarter. Raymond James & Associates now owns 124,812 shares of the financial services provider’s stock worth $8,275,000 after buying an additional 1,198 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of Pinnacle Financial Partners by 5.6% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 15,000 shares of the financial services provider’s stock worth $995,000 after buying an additional 800 shares during the period. 72.14% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Pinnacle Financial Partners stock opened at $64.20 on Monday. The stock has a market capitalization of $5,000.35, a P/E ratio of 17.98, a PEG ratio of 0.97 and a beta of 1.07. Pinnacle Financial Partners has a 1 year low of $58.40 and a 1 year high of $70.30. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. The company had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $224.62 million. Pinnacle Financial Partners had a net margin of 22.27% and a return on equity of 7.24%. Pinnacle Financial Partners’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. analysts expect that Pinnacle Financial Partners will post 4.72 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on PNFP. Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Wednesday, March 28th. BidaskClub upgraded shares of Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 3rd. UBS began coverage on shares of Pinnacle Financial Partners in a research note on Wednesday, March 21st. They issued a “sell” rating and a $56.00 price target on the stock. Sandler O’Neill set a $76.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Stephens upgraded shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $73.13.

In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 11,835 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $68.44, for a total transaction of $809,987.40. Following the transaction, the chief financial officer now owns 99,021 shares in the company, valued at approximately $6,776,997.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO M Terry Turner sold 31,171 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $67.11, for a total transaction of $2,091,885.81. Following the transaction, the chief executive officer now owns 489,701 shares in the company, valued at approximately $32,863,834.11. The disclosure for this sale can be found here. Insiders have sold a total of 133,882 shares of company stock worth $9,000,201 in the last 90 days. Company insiders own 3.39% of the company’s stock.

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About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.

Institutional Ownership by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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