12,381 Shares in Pinnacle Financial Partners, Inc. (PNFP) Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. bought a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,381 shares of the financial services provider’s stock, valued at approximately $829,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kennedy Capital Management Inc. increased its stake in shares of Pinnacle Financial Partners by 116.8% during the second quarter. Kennedy Capital Management Inc. now owns 298,196 shares of the financial services provider’s stock valued at $18,727,000 after purchasing an additional 160,671 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Pinnacle Financial Partners by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 1,060,209 shares of the financial services provider’s stock valued at $66,581,000 after purchasing an additional 4,877 shares in the last quarter. Utah Retirement Systems bought a new position in shares of Pinnacle Financial Partners during the second quarter valued at approximately $834,000. BNP Paribas Arbitrage SA increased its stake in shares of Pinnacle Financial Partners by 187.3% during the second quarter. BNP Paribas Arbitrage SA now owns 27,358 shares of the financial services provider’s stock valued at $1,718,000 after purchasing an additional 17,836 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Pinnacle Financial Partners by 7.8% during the second quarter. Wells Fargo & Company MN now owns 307,772 shares of the financial services provider’s stock valued at $19,329,000 after purchasing an additional 22,181 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

In other news, Director Joseph C. Galante purchased 1,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, September 7th. The stock was bought at an average price of $59.40 per share, with a total value of $59,400.00. Following the completion of the transaction, the director now directly owns 19,011 shares of the company’s stock, valued at $1,129,253.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Harold R. Carpenter sold 17,711 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The stock was 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 in the company, valued at approximately $7,223,220.50. The disclosure for this sale can be found here. Insiders have sold 63,711 shares of company stock valued at $4,285,377 in the last three months. 5.41% of the stock is owned by insiders.

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) opened at $65.10 on Monday. The firm has a market cap of $5,059.77, a P/E ratio of 19.15, a P/E/G ratio of 1.53 and a beta of 1.32. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.57. Pinnacle Financial Partners, Inc. has a 1 year low of $58.40 and a 1 year high of $71.85.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.01. The company 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 firm’s quarterly revenue was up 102.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. research analysts forecast that Pinnacle Financial Partners, Inc. will post 3.56 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 3rd were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Thursday, November 2nd. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 17.34%.

A number of equities analysts have weighed in on PNFP shares. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $73.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, October 4th. Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Wednesday, August 23rd. Piper Jaffray Companies reissued a “buy” rating and set a $74.00 price target on shares of Pinnacle Financial Partners in a research report on Thursday, October 19th. Zacks Investment Research raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Finally, BidaskClub downgraded shares of Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $73.25.

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Pinnacle Financial Partners Company 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)

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