Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) Sees Large Drop in Short Interest

Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totalling 6,400 shares, a decrease of 22.9% from the August 31st total of 8,300 shares. Based on an average daily trading volume, of 16,900 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On Pinnacle Financial Partners

A hedge fund recently bought a new stake in Pinnacle Financial Partners stock. Thompson Investment Management Inc. purchased a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,000 shares of the company’s stock, valued at approximately $47,000.

Pinnacle Financial Partners Price Performance

Shares of PNFPP traded up $0.04 during trading hours on Friday, reaching $24.50. The stock had a trading volume of 39,174 shares, compared to its average volume of 14,364. Pinnacle Financial Partners has a 12 month low of $20.50 and a 12 month high of $24.81. The firm has a 50-day simple moving average of $24.12 and a 200 day simple moving average of $23.74.

Pinnacle Financial Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Saturday, August 17th were issued a $0.422 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date was Friday, August 16th.

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.