Jones Financial Companies Lllp Has $240,000 Stock Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Jones Financial Companies Lllp raised its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 8.6% in the 4th quarter, Holdings Channel reports. The firm owned 2,099 shares of the financial services provider’s stock after acquiring an additional 166 shares during the period. Jones Financial Companies Lllp’s holdings in Pinnacle Financial Partners were worth $240,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Pinnacle Financial Partners during the third quarter worth $30,000. Brooklyn Investment Group acquired a new position in shares of Pinnacle Financial Partners during the third quarter worth $70,000. UMB Bank n.a. increased its holdings in shares of Pinnacle Financial Partners by 48.1% during the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock worth $84,000 after buying an additional 239 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of Pinnacle Financial Partners by 12.7% during the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after buying an additional 91 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new position in shares of Pinnacle Financial Partners during the fourth quarter worth $97,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on PNFP. JPMorgan Chase & Co. reduced their price objective on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. UBS Group began coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $135.00 price objective (up previously from $115.00) on shares of Pinnacle Financial Partners in a research note on Wednesday, December 4th. Finally, Hovde Group cut shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price target on the stock. in a research report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $125.18.

Pinnacle Financial Partners Price Performance

PNFP stock opened at $101.38 on Thursday. The stock has a market capitalization of $7.84 billion, a PE ratio of 16.95 and a beta of 1.09. The company’s 50-day moving average is $117.04 and its 200-day moving average is $111.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. Pinnacle Financial Partners, Inc. has a 1 year low of $73.62 and a 1 year high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The company had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. During the same quarter in the prior year, the business posted $1.68 EPS. The firm’s revenue was up 19.9% compared to the same quarter last year. Equities research analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s dividend payout ratio is currently 16.05%.

Insider Buying and Selling

In related news, Director David B. Ingram sold 40,000 shares of Pinnacle Financial Partners stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $126.50, for a total value of $5,060,000.00. Following the transaction, the director now owns 40,991 shares in the company, valued at $5,185,361.50. This trade represents a 49.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO M Terry Turner sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total transaction of $201,260.00. Following the completion of the transaction, the chief executive officer now owns 254,552 shares in the company, valued at $25,615,567.76. The trade was a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,350 shares of company stock worth $11,116,670 in the last quarter. Insiders own 1.87% of the company’s stock.

About Pinnacle Financial Partners

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.