UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 1,290 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,132 shares of the financial services provider’s stock after buying an additional 1,290 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.26% of Pinnacle Financial Partners worth $19,607,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of Pinnacle Financial Partners during the second quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in Pinnacle Financial Partners during the third quarter worth $30,000. UMB Bank n.a. increased its holdings in Pinnacle Financial Partners by 83.4% in the 3rd quarter. UMB Bank n.a. now owns 497 shares of the financial services provider’s stock valued at $49,000 after buying an additional 226 shares during the period. Values First Advisors Inc. acquired a new position in shares of Pinnacle Financial Partners in the 3rd quarter valued at $49,000. Finally, Quarry LP lifted its holdings in shares of Pinnacle Financial Partners by 3,500.0% during the 2nd quarter. Quarry LP now owns 756 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 735 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Performance

Shares of NASDAQ:PNFP opened at $124.57 on Friday. The business has a fifty day moving average of $111.12 and a 200-day moving average of $95.53. The firm has a market cap of $9.62 billion, a PE ratio of 23.68 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. Pinnacle Financial Partners, Inc. has a twelve month low of $73.62 and a twelve month high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.07. Pinnacle Financial Partners had a net margin of 13.97% and a return on equity of 8.89%. The firm had revenue of $810.11 million during the quarter, compared to analysts’ expectations of $454.18 million. During the same quarter last year, the company posted $1.79 EPS. On average, equities research analysts predict that Pinnacle Financial Partners, Inc. will post 6.8 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 1st were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.88 annualized dividend and a dividend yield of 0.71%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 16.73%.

Analysts Set New Price Targets

PNFP has been the topic of a number of analyst reports. Wells Fargo & Company upped their target price on shares of Pinnacle Financial Partners from $104.00 to $120.00 and gave the company an “equal weight” rating in a research note on Tuesday. Barclays upped their price objective on Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday. Truist Financial raised their target price on Pinnacle Financial Partners from $113.00 to $119.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Citigroup upped their price target on Pinnacle Financial Partners from $113.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Stephens lifted their price objective on Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $113.64.

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.