Raymond James Financial Services Advisors Inc. Lowers Stake in Pinnacle Financial Partners, Inc. (PNFP)

Raymond James Financial Services Advisors Inc. reduced its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,036 shares of the financial services provider’s stock after selling 1,880 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.11% of Pinnacle Financial Partners worth $5,961,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Alps Advisors Inc. lifted its position in Pinnacle Financial Partners by 0.3% during the second quarter. Alps Advisors Inc. now owns 7,121 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 19 shares during the period. M&T Bank Corp lifted its position in Pinnacle Financial Partners by 5.3% during the second quarter. M&T Bank Corp now owns 3,799 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 191 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its position in Pinnacle Financial Partners by 2.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,854 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 209 shares during the period. HighTower Advisors LLC lifted its position in Pinnacle Financial Partners by 3.9% during the second quarter. HighTower Advisors LLC now owns 5,820 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 220 shares during the period. Finally, Moody Lynn & Lieberson LLC lifted its position in Pinnacle Financial Partners by 4.0% during the second quarter. Moody Lynn & Lieberson LLC now owns 7,155 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 278 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

WARNING: This news story was originally published by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this news story on another publication, it was illegally copied and republished in violation of U.S. & international copyright and trademark law. The original version of this news story can be read at https://sportsperspectives.com/2017/11/21/raymond-james-financial-services-advisors-inc-lowers-stake-in-pinnacle-financial-partners-inc-pnfp.html.

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) opened at $65.55 on Tuesday. The firm has a market cap of $5,090.85, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.53 and a beta of 1.32. Pinnacle Financial Partners, Inc. has a 1 year low of $58.40 and a 1 year high of $71.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.99 and a quick ratio of 0.98.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $216.20 million during the quarter, compared to the consensus estimate of $217.13 million. Pinnacle Financial Partners had a net margin of 27.41% and a return on equity of 7.36%. The company’s revenue was up 102.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 3.56 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 3rd will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.85%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 17.34%.

In other news, CFO Harold R. Carpenter sold 17,711 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $67.45, for a total transaction of $1,194,606.95. Following the completion of the sale, the chief financial officer now owns 107,090 shares of the company’s stock, valued at $7,223,220.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard D. Callicutt II sold 30,000 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $67.44, for a total transaction of $2,023,200.00. Following the sale, the chairman now directly owns 168,241 shares of the company’s stock, valued at approximately $11,346,173.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,711 shares of company stock valued at $4,285,377. Insiders own 5.41% of the company’s stock.

A number of research analysts recently issued reports on PNFP shares. BidaskClub downgraded shares of Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Hilliard Lyons upgraded shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Wednesday, August 23rd. SunTrust Banks, Inc. restated a “buy” rating and set a $73.00 target price on shares of Pinnacle Financial Partners in a research report on Wednesday, October 4th. Piper Jaffray Companies restated an “overweight” rating and set a $72.00 target price on shares of Pinnacle Financial Partners in a research report on Thursday, October 5th. Finally, Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.25.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

Institutional Ownership by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

Receive News & Ratings for Pinnacle Financial Partners Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply