IFP Advisors Inc Buys 2,164 Shares of Pinnacle Financial Partners (PNFP)

IFP Advisors Inc lifted its stake in shares of Pinnacle Financial Partners (NASDAQ:PNFP) by 72.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,159 shares of the financial services provider’s stock after acquiring an additional 2,164 shares during the quarter. IFP Advisors Inc’s holdings in Pinnacle Financial Partners were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of PNFP. Carroll Financial Associates Inc. increased its holdings in Pinnacle Financial Partners by 14.9% in the second quarter. Carroll Financial Associates Inc. now owns 6,365 shares of the financial services provider’s stock valued at $390,000 after buying an additional 823 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Pinnacle Financial Partners by 3.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 28,958 shares of the financial services provider’s stock valued at $1,777,000 after buying an additional 832 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Pinnacle Financial Partners by 17.9% in the second quarter. Envestnet Asset Management Inc. now owns 5,758 shares of the financial services provider’s stock valued at $353,000 after buying an additional 875 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in Pinnacle Financial Partners by 9.9% in the third quarter. Xact Kapitalforvaltning AB now owns 11,095 shares of the financial services provider’s stock valued at $667,000 after buying an additional 1,000 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in Pinnacle Financial Partners by 15.2% in the second quarter. Bank of Montreal Can now owns 7,856 shares of the financial services provider’s stock valued at $482,000 after buying an additional 1,037 shares during the last quarter. 77.84% of the stock is currently owned by institutional investors and hedge funds.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the company’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $63.49, for a total value of $101,584.00. Following the completion of the transaction, the insider now owns 27,975 shares in the company, valued at $1,776,132.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.39% of the company’s stock.

Several equities analysts recently commented on PNFP shares. SunTrust Banks dropped their target price on Pinnacle Financial Partners to $65.00 and set a “buy” rating on the stock in a report on Thursday, October 18th. Wells Fargo & Co set a $72.00 target price on Pinnacle Financial Partners and gave the company a “buy” rating in a report on Tuesday, October 2nd. BidaskClub lowered Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Raymond James dropped their target price on Pinnacle Financial Partners from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, October 18th. Finally, ValuEngine lowered Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 17th. Three investment analysts have rated the stock with a sell rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $70.67.

NASDAQ PNFP opened at $53.39 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.97 and a quick ratio of 0.97. Pinnacle Financial Partners has a 1 year low of $49.92 and a 1 year high of $69.95. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 0.71 and a beta of 1.12.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.02. Pinnacle Financial Partners had a net margin of 26.97% and a return on equity of 9.09%. The company had revenue of $240.90 million during the quarter, compared to the consensus estimate of $236.67 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, sell-side analysts anticipate that Pinnacle Financial Partners will post 4.71 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 2nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.20%. The ex-dividend date is Thursday, November 1st. This is an increase from Pinnacle Financial Partners’s previous quarterly dividend of $0.14. Pinnacle Financial Partners’s dividend payout ratio is currently 17.93%.

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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.

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

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