Insider Selling: Pinnacle Financial Partners (NASDAQ:PNFP) Director Sells 2,000 Shares of Stock

Pinnacle Financial Partners (NASDAQ:PNFP) Director Charles E. Brock sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $56.05, for a total transaction of $112,100.00. Following the completion of the transaction, the director now owns 36,304 shares in the company, valued at approximately $2,034,839.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of PNFP traded up $1.03 during mid-day trading on Tuesday, hitting $56.51. 6,942 shares of the company’s stock were exchanged, compared to its average volume of 228,901. Pinnacle Financial Partners has a twelve month low of $43.23 and a twelve month high of $67.45. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 0.77 and a beta of 1.39. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.03. Pinnacle Financial Partners had a net margin of 30.80% and a return on equity of 9.53%. The company had revenue of $238.30 million for the quarter, compared to analyst estimates of $246.03 million. During the same quarter in the prior year, the business posted $1.13 EPS. Pinnacle Financial Partners’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, research analysts predict that Pinnacle Financial Partners will post 5.1 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 3rd were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, May 2nd. This represents a $0.64 annualized dividend and a dividend yield of 1.13%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 13.50%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Private Capital Group LLC increased its stake in shares of Pinnacle Financial Partners by 76.6% during the 1st quarter. Private Capital Group LLC now owns 544 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 236 shares during the last quarter. First Republic Investment Management Inc. grew its stake in Pinnacle Financial Partners by 4.2% in the 1st quarter. First Republic Investment Management Inc. now owns 6,917 shares of the financial services provider’s stock valued at $378,000 after buying an additional 277 shares during the last quarter. Sowell Financial Services LLC grew its stake in Pinnacle Financial Partners by 2.8% in the 4th quarter. Sowell Financial Services LLC now owns 12,945 shares of the financial services provider’s stock valued at $597,000 after buying an additional 348 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Pinnacle Financial Partners by 14.4% in the 1st quarter. Advisors Asset Management Inc. now owns 3,118 shares of the financial services provider’s stock valued at $171,000 after buying an additional 393 shares during the last quarter. Finally, Mason Street Advisors LLC grew its stake in Pinnacle Financial Partners by 1.1% in the 1st quarter. Mason Street Advisors LLC now owns 38,756 shares of the financial services provider’s stock valued at $2,120,000 after buying an additional 405 shares during the last quarter. Institutional investors own 80.58% of the company’s stock.

Several research analysts have weighed in on PNFP shares. Zacks Investment Research lowered shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. BidaskClub upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a research note on Saturday, February 23rd. Stephens reiterated a “buy” rating and issued a $65.00 price objective on shares of Pinnacle Financial Partners in a research note on Tuesday, April 16th. TheStreet upgraded shares of Pinnacle Financial Partners from a “c+” rating to a “b-” rating in a research note on Wednesday, February 13th. Finally, Raymond James set a $66.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $62.33.

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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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Insider Buying and Selling by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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