Pinnacle Financial Partners (PNFP) CFO Harold R. Carpenter Sells 10,075 Shares

Pinnacle Financial Partners (NASDAQ:PNFP) CFO Harold R. Carpenter sold 10,075 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $57.75, for a total transaction of $581,831.25. Following the completion of the transaction, the chief financial officer now owns 86,423 shares in the company, valued at $4,990,928.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of PNFP stock traded down $0.31 on Friday, hitting $57.98. 706,497 shares of the stock traded hands, compared to its average volume of 431,807. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.81 and a beta of 1.40. Pinnacle Financial Partners has a 52 week low of $43.23 and a 52 week high of $68.85. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, January 15th. The financial services provider reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.02. The firm had revenue of $247.50 million for the quarter, compared to the consensus estimate of $246.73 million. Pinnacle Financial Partners had a net margin of 31.32% and a return on equity of 9.51%. The company’s revenue was up 17.2% on a year-over-year basis. During the same period last year, the firm earned $0.97 EPS. Equities research analysts expect that Pinnacle Financial Partners will post 5.06 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Friday, February 1st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, January 31st. This represents a $0.64 annualized dividend and a yield of 1.10%. Pinnacle Financial Partners’s payout ratio is 13.50%.

Several brokerages have recently commented on PNFP. BidaskClub upgraded shares of Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 17th. TheStreet downgraded shares of Pinnacle Financial Partners from a “b-” rating to a “c” rating in a research report on Thursday, November 15th. ValuEngine upgraded shares of Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a research report on Monday, November 26th. Stephens restated a “buy” rating and set a $60.00 price objective on shares of Pinnacle Financial Partners in a research report on Wednesday, December 19th. Finally, Wells Fargo & Co decreased their price objective on shares of Pinnacle Financial Partners from $72.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, January 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Pinnacle Financial Partners presently has an average rating of “Hold” and a consensus target price of $64.86.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sowell Financial Services LLC grew its stake in Pinnacle Financial Partners by 2.8% during the fourth quarter. Sowell Financial Services LLC now owns 12,945 shares of the financial services provider’s stock valued at $597,000 after acquiring an additional 348 shares in the last quarter. American International Group Inc. grew its stake in Pinnacle Financial Partners by 0.3% during the fourth quarter. American International Group Inc. now owns 149,462 shares of the financial services provider’s stock valued at $6,890,000 after acquiring an additional 422 shares in the last quarter. Patten & Patten Inc. TN grew its stake in Pinnacle Financial Partners by 1.2% during the fourth quarter. Patten & Patten Inc. TN now owns 37,266 shares of the financial services provider’s stock valued at $1,718,000 after acquiring an additional 427 shares in the last quarter. Advisor Group Inc. grew its stake in Pinnacle Financial Partners by 12.8% during the fourth quarter. Advisor Group Inc. now owns 3,852 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 437 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in Pinnacle Financial Partners by 7.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 7,571 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 540 shares in the last quarter. 80.64% of the stock is owned by institutional investors.

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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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