NBC Securities Inc. Has $736,000 Stock Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

NBC Securities Inc. lifted its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,519 shares of the financial services provider’s stock after buying an additional 411 shares during the period. NBC Securities Inc.’s holdings in Pinnacle Financial Partners were worth $736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Versant Capital Management Inc boosted its position in shares of Pinnacle Financial Partners by 44.5% in the second quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider’s stock worth $35,000 after buying an additional 133 shares during the period. GAMMA Investing LLC boosted its position in shares of Pinnacle Financial Partners by 16.5% in the third quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock worth $97,000 after buying an additional 141 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Pinnacle Financial Partners by 0.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 57,459 shares of the financial services provider’s stock worth $4,930,000 after buying an additional 152 shares during the period. Duncan Williams Asset Management LLC boosted its position in shares of Pinnacle Financial Partners by 1.5% in the third quarter. Duncan Williams Asset Management LLC now owns 12,828 shares of the financial services provider’s stock worth $1,257,000 after buying an additional 195 shares during the period. Finally, Bank of Montreal Can boosted its position in Pinnacle Financial Partners by 2.4% during the second quarter. Bank of Montreal Can now owns 9,158 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 215 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Price Performance

NASDAQ PNFP opened at $105.47 on Thursday. Pinnacle Financial Partners, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $106.62. The stock’s 50-day moving average is $95.27 and its two-hundred day moving average is $86.79. 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 firm has a market cap of $8.14 billion, a P/E ratio of 15.09 and a beta of 1.05.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.07. The business had revenue of $810.11 million for the quarter, compared to analyst estimates of $454.18 million. Pinnacle Financial Partners had a return on equity of 8.97% and a net margin of 13.93%. During the same period in the previous year, the company posted $1.79 earnings per share. On average, analysts anticipate that Pinnacle Financial Partners, Inc. will post 6.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on PNFP shares. Piper Sandler cut Pinnacle Financial Partners from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $95.00 to $98.00 in a research report on Thursday, July 18th. JPMorgan Chase & Co. reduced their price objective on Pinnacle Financial Partners from $108.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Citigroup lifted their price objective on Pinnacle Financial Partners from $93.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Barclays lifted their price objective on Pinnacle Financial Partners from $97.00 to $101.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Finally, Hovde Group lifted their price objective on Pinnacle Financial Partners from $110.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Pinnacle Financial Partners has an average rating of “Moderate Buy” and an average price target of $102.10.

Pinnacle Financial Partners 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.