Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Stock Holdings Trimmed by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp decreased its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,084 shares of the financial services provider’s stock after selling 7,016 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Pinnacle Financial Partners were worth $3,060,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at $95,000. New York State Common Retirement Fund lifted its holdings in shares of Pinnacle Financial Partners by 1.2% during the fourth quarter. New York State Common Retirement Fund now owns 595,168 shares of the financial services provider’s stock valued at $51,911,000 after purchasing an additional 7,178 shares during the last quarter. CWM LLC lifted its holdings in shares of Pinnacle Financial Partners by 62.3% during the fourth quarter. CWM LLC now owns 865 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 332 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in shares of Pinnacle Financial Partners during the fourth quarter valued at $174,000. Finally, CapWealth Advisors LLC purchased a new stake in shares of Pinnacle Financial Partners during the fourth quarter valued at $203,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PNFP shares. Barclays started coverage on Pinnacle Financial Partners in a report on Friday, March 8th. They set an “equal weight” rating and a $93.00 target price for the company. Truist Financial upped their target price on Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a “buy” rating in a report on Monday, April 1st. JPMorgan Chase & Co. reduced their target price on Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday. Jefferies Financial Group reduced their target price on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating for the company in a report on Monday, April 8th. Finally, Hovde Group dropped their price target on Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Pinnacle Financial Partners has an average rating of “Hold” and a consensus price target of $96.13.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 6,306 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total value of $518,479.32. Following the transaction, the chief financial officer now directly owns 63,856 shares of the company’s stock, valued at approximately $5,250,240.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 6,306 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total value of $518,479.32. Following the transaction, the chief financial officer now directly owns 63,856 shares of the company’s stock, valued at approximately $5,250,240.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO M Terry Turner sold 24,057 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total value of $1,977,966.54. Following the completion of the transaction, the chief executive officer now directly owns 294,790 shares in the company, valued at $24,237,633.80. The disclosure for this sale can be found here. Insiders have sold a total of 47,844 shares of company stock valued at $3,933,734 in the last three months. Insiders own 1.87% of the company’s stock.

Pinnacle Financial Partners Stock Up 2.0 %

NASDAQ:PNFP traded up $1.62 during trading hours on Wednesday, hitting $82.96. 517,895 shares of the company’s stock traded hands, compared to its average volume of 466,097. The firm has a market cap of $6.39 billion, a P/E ratio of 11.76 and a beta of 1.08. Pinnacle Financial Partners, Inc. has a twelve month low of $43.31 and a twelve month high of $92.33. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s fifty day moving average price is $82.34 and its two-hundred day moving average price is $79.15.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.