Pinnacle Financial Partners (NASDAQ:PNFP) Director Gregory L. Burns sold 3,008 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $66.60, for a total transaction of $200,332.80. Following the completion of the sale, the director now owns 30,090 shares in the company, valued at $2,003,994. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Pinnacle Financial Partners (NASDAQ:PNFP) traded down $0.10 during trading hours on Wednesday, hitting $65.80. 788,900 shares of the company were exchanged, compared to its average volume of 575,982. The firm has a market cap of $5,123.04, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.48. Pinnacle Financial Partners has a 1-year low of $58.40 and a 1-year high of $71.55.
Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $211.20 million for the quarter, compared to the consensus estimate of $224.62 million. Pinnacle Financial Partners had a net margin of 22.27% and a return on equity of 7.24%. Pinnacle Financial Partners’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the company posted $0.83 EPS. equities analysts anticipate that Pinnacle Financial Partners will post 4.72 earnings per share for the current year.
A number of analysts recently weighed in on PNFP shares. Wells Fargo & Co started coverage on shares of Pinnacle Financial Partners in a research report on Thursday, December 21st. They issued an “outperform” rating and a $80.00 price target on the stock. BidaskClub upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research report on Wednesday, December 20th. Piper Jaffray Companies set a $76.00 price target on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Thursday, November 30th. Finally, Stephens upgraded shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $76.14.
A number of hedge funds have recently made changes to their positions in PNFP. Whittier Trust Co. acquired a new stake in Pinnacle Financial Partners during the 4th quarter worth approximately $119,000. Tower Research Capital LLC TRC raised its holdings in Pinnacle Financial Partners by 252.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,929 shares of the financial services provider’s stock worth $128,000 after buying an additional 1,381 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Pinnacle Financial Partners by 130.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,300 shares of the financial services provider’s stock worth $152,000 after buying an additional 1,300 shares during the period. Advisor Group Inc. raised its holdings in Pinnacle Financial Partners by 33.8% during the 3rd quarter. Advisor Group Inc. now owns 3,069 shares of the financial services provider’s stock worth $206,000 after buying an additional 775 shares during the period. Finally, Brightworth acquired a new stake in Pinnacle Financial Partners during the 3rd quarter worth approximately $241,000. Hedge funds and other institutional investors own 73.64% of the company’s stock.
WARNING: This article was published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States & international copyright legislation. The original version of this article can be read at https://sportsperspectives.com/2018/02/21/insider-selling-pinnacle-financial-partners-pnfp-director-sells-3008-shares-of-stock.html.
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.
Receive News & Ratings for Pinnacle Financial Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners and related companies with MarketBeat.com's FREE daily email newsletter.