Barings LLC Has $479,000 Position in Pinnacle Financial Partners (PNFP)

Barings LLC lowered its stake in shares of Pinnacle Financial Partners (NASDAQ:PNFP) by 62.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,800 shares of the financial services provider’s stock after selling 12,825 shares during the quarter. Barings LLC’s holdings in Pinnacle Financial Partners were worth $479,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Pinnacle Financial Partners by 2.7% during the 1st quarter. BlackRock Inc. now owns 6,212,522 shares of the financial services provider’s stock valued at $398,843,000 after acquiring an additional 162,512 shares in the last quarter. Jennison Associates LLC raised its stake in Pinnacle Financial Partners by 7.1% during the 2nd quarter. Jennison Associates LLC now owns 3,501,820 shares of the financial services provider’s stock valued at $214,837,000 after acquiring an additional 233,210 shares in the last quarter. Ceredex Value Advisors LLC bought a new stake in Pinnacle Financial Partners during the 1st quarter valued at $90,692,000. Dimensional Fund Advisors LP raised its stake in Pinnacle Financial Partners by 19.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,311,395 shares of the financial services provider’s stock valued at $84,192,000 after acquiring an additional 211,476 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Pinnacle Financial Partners by 0.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,248,891 shares of the financial services provider’s stock valued at $76,620,000 after acquiring an additional 6,673 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

In other news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $66.40, for a total value of $199,200.00. Following the sale, the insider now owns 34,685 shares of the company’s stock, valued at approximately $2,303,084. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Ronald L. Samuel sold 1,600 shares of the business’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $62.90, for a total value of $100,640.00. Following the completion of the sale, the insider now directly owns 31,175 shares in the company, valued at approximately $1,960,907.50. The disclosure for this sale can be found here. Insiders sold a total of 7,100 shares of company stock worth $462,719 in the last three months. Company insiders own 3.39% of the company’s stock.

PNFP opened at $64.80 on Friday. Pinnacle Financial Partners has a one year low of $58.40 and a one year high of $69.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.98 and a current ratio of 0.99. The firm has a market capitalization of $4.90 billion, a PE ratio of 18.01, a PEG ratio of 0.95 and a beta of 1.02.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.01. Pinnacle Financial Partners had a return on equity of 8.59% and a net margin of 25.54%. The company had revenue of $230.20 million for the quarter, compared to the consensus estimate of $229.16 million. During the same quarter in the previous year, the business earned $0.84 EPS. The company’s quarterly revenue was up 62.5% compared to the same quarter last year. research analysts forecast that Pinnacle Financial Partners will post 4.71 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Friday, August 3rd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Thursday, August 2nd. Pinnacle Financial Partners’s dividend payout ratio is presently 15.69%.

PNFP has been the topic of several recent analyst reports. Hovde Group reaffirmed an “outperform” rating and set a $75.00 target price (up previously from $72.00) on shares of Pinnacle Financial Partners in a research note on Friday, June 8th. BidaskClub raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a research note on Friday, April 27th. ValuEngine downgraded Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Friday, June 15th. Finally, Zacks Investment Research downgraded Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research note on Friday, April 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.75.

Pinnacle Financial Partners Company Profile

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.

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

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