Diversified Trust Co Has $7.29 Million Stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Diversified Trust Co decreased its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 0.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 84,922 shares of the financial services provider’s stock after selling 186 shares during the quarter. Diversified Trust Co owned about 0.11% of Pinnacle Financial Partners worth $7,293,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. First Bank & Trust bought a new position in shares of Pinnacle Financial Partners in the 1st quarter worth $373,000. Independence Bank of Kentucky bought a new position in shares of Pinnacle Financial Partners in the 1st quarter worth $333,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Pinnacle Financial Partners by 35.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,875 shares of the financial services provider’s stock worth $1,449,000 after purchasing an additional 4,371 shares in the last quarter. Lbmc Investment Advisors LLC lifted its holdings in shares of Pinnacle Financial Partners by 52.5% in the 1st quarter. Lbmc Investment Advisors LLC now owns 14,531 shares of the financial services provider’s stock worth $1,248,000 after purchasing an additional 5,005 shares in the last quarter. Finally, Anderson Hoagland & Co. bought a new position in Pinnacle Financial Partners during the 1st quarter valued at $1,990,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Price Performance

PNFP stock traded down $0.59 during mid-day trading on Monday, reaching $79.45. 56,685 shares of the company traded hands, compared to its average volume of 428,306. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $6.14 billion, a P/E ratio of 11.45 and a beta of 1.08. Pinnacle Financial Partners, Inc. has a 52-week low of $55.38 and a 52-week high of $92.33. The company has a fifty day moving average price of $79.39 and a 200-day moving average price of $82.37.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Monday, April 22nd. The financial services provider reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.01. Pinnacle Financial Partners had a return on equity of 9.31% and a net margin of 18.59%. The business had revenue of $428.14 million during the quarter, compared to analyst estimates of $413.27 million. As a group, analysts anticipate that Pinnacle Financial Partners, Inc. will post 6.74 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 3rd were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Thursday, May 2nd. Pinnacle Financial Partners’s payout ratio is 12.59%.

Insider Transactions at Pinnacle Financial Partners

In related news, CEO M Terry Turner sold 72,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $80.97, for a total value of $5,829,840.00. Following the completion of the sale, the chief executive officer now owns 222,790 shares in the company, valued at approximately $18,039,306.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 115,249 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $81.04, for a total value of $9,339,778.96. Following the completion of the sale, the chairman now owns 153,062 shares in the company, valued at $12,404,144.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO M Terry Turner sold 72,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $80.97, for a total value of $5,829,840.00. Following the completion of the sale, the chief executive officer now owns 222,790 shares of the company’s stock, valued at approximately $18,039,306.30. The disclosure for this sale can be found here. 1.87% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays assumed coverage on Pinnacle Financial Partners in a research note on Friday, March 8th. They set an “equal weight” rating and a $93.00 price objective on the stock. Truist Financial dropped their price objective on Pinnacle Financial Partners from $99.00 to $94.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. JPMorgan Chase & Co. lowered their target price on Pinnacle Financial Partners from $108.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday. Stephens lowered their target price on Pinnacle Financial Partners from $109.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Finally, Hovde Group lowered their target price on Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $94.25.

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.