Maltese Capital Management LLC Acquires New Holdings in Pinnacle Financial Partners (PNFP)

Maltese Capital Management LLC bought a new position in Pinnacle Financial Partners (NASDAQ:PNFP) during the fourth quarter, HoldingsChannel reports. The fund bought 5,000 shares of the financial services provider’s stock, valued at approximately $332,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisor Group Inc. grew its stake in shares of Pinnacle Financial Partners by 14.5% in the second quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 291 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Pinnacle Financial Partners by 130.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,300 shares of the financial services provider’s stock valued at $152,000 after buying an additional 1,300 shares during the last quarter. Aldebaran Financial Inc. purchased a new stake in shares of Pinnacle Financial Partners during the second quarter valued at $231,000. M&T Bank Corp boosted its position in shares of 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 buying an additional 191 shares during the last quarter. Finally, Brightworth purchased a new stake in shares of Pinnacle Financial Partners during the third quarter valued at $241,000. 72.78% of the stock is currently owned by hedge funds and other institutional investors.

PNFP has been the topic of several recent analyst reports. Wells Fargo & Co initiated coverage on Pinnacle Financial Partners in a research report on Thursday, December 21st. They set an “outperform” rating and a $80.00 price objective on the stock. BidaskClub raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Zacks Investment Research raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Wednesday, December 20th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $74.00 price objective on shares of Pinnacle Financial Partners in a research report on Thursday, October 19th. Finally, Hilliard Lyons cut Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 price objective on the stock. in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Pinnacle Financial Partners presently has a consensus rating of “Buy” and an average target price of $76.14.

In other news, Director Thomas R. Sloan sold 15,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $65.97, for a total value of $989,550.00. Following the transaction, the director now owns 108,257 shares of the company’s stock, valued at $7,141,714.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $65.96, for a total value of $197,880.00. Following the completion of the transaction, the insider now directly owns 52,794 shares in the company, valued at approximately $3,482,292.24. The disclosure for this sale can be found here. Insiders sold 57,044 shares of company stock worth $3,791,760 in the last ninety days. Corporate insiders own 5.41% of the company’s stock.

Pinnacle Financial Partners (NASDAQ:PNFP) opened at $62.40 on Thursday. The stock has a market capitalization of $4,831.52, a PE ratio of 17.56, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.00 and a quick ratio of 0.99. Pinnacle Financial Partners has a 12-month low of $58.40 and a 12-month high of $71.55.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $224.62 million. Pinnacle Financial Partners had a return on equity of 7.24% and a net margin of 22.27%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.83 earnings per share. equities analysts anticipate that Pinnacle Financial Partners will post 4.71 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 2nd will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, February 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 20.00%.

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About Pinnacle Financial Partners

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.

Want to see what other hedge funds are holding PNFP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle Financial Partners (NASDAQ:PNFP).

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

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