Hunter Perkins Capital Management LLC Buys 545 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Hunter Perkins Capital Management LLC lifted its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,690 shares of the financial services provider’s stock after purchasing an additional 545 shares during the period. Hunter Perkins Capital Management LLC’s holdings in Pinnacle Financial Partners were worth $1,795,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its stake in shares of Pinnacle Financial Partners by 11.6% in the 3rd quarter. FMR LLC now owns 2,716,416 shares of the financial services provider’s stock valued at $266,127,000 after buying an additional 282,016 shares during the period. Geode Capital Management LLC increased its position in Pinnacle Financial Partners by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,328,564 shares of the financial services provider’s stock worth $130,192,000 after purchasing an additional 8,604 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Pinnacle Financial Partners by 20.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,015,033 shares of the financial services provider’s stock worth $99,443,000 after purchasing an additional 172,750 shares during the last quarter. Principal Financial Group Inc. lifted its position in Pinnacle Financial Partners by 27.0% during the 3rd quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider’s stock valued at $96,332,000 after purchasing an additional 208,938 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Pinnacle Financial Partners by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 920,088 shares of the financial services provider’s stock valued at $90,141,000 after purchasing an additional 9,856 shares during the last quarter. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Trading Up 0.8 %

NASDAQ PNFP opened at $123.28 on Monday. The business has a 50 day moving average price of $119.31 and a 200-day moving average price of $105.71. Pinnacle Financial Partners, Inc. has a 52 week low of $73.62 and a 52 week high of $131.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 20.62 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.10. The business had revenue of $475.34 million during the quarter, compared to the consensus estimate of $470,334.57 billion. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 EPS. As a group, equities analysts expect that Pinnacle Financial Partners, Inc. will post 7.56 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 7th will be given a $0.24 dividend. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, February 7th. Pinnacle Financial Partners’s dividend payout ratio is presently 14.72%.

Insider Buying and Selling at Pinnacle Financial Partners

In related news, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $124.09, for a total transaction of $6,204,500.00. Following the sale, the chairman now directly owns 123,000 shares in the company, valued at approximately $15,263,070. The trade was a 28.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Harold R. Carpenter sold 3,051 shares of Pinnacle Financial Partners stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $125.57, for a total value of $383,114.07. Following the transaction, the chief financial officer now directly owns 60,805 shares of the company’s stock, valued at $7,635,283.85. The trade was a 4.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,661 shares of company stock worth $9,563,127. Corporate insiders own 1.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday. UBS Group initiated coverage on Pinnacle Financial Partners in a report on Tuesday, December 17th. They set a “neutral” rating and a $133.00 target price on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $135.00 price target (up from $115.00) on shares of Pinnacle Financial Partners in a research note on Wednesday, December 4th. Hovde Group lowered shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price objective on the stock. in a research note on Monday, November 18th. Finally, Barclays raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $120.00 to $135.00 in a research note on Thursday, December 19th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $125.18.

Pinnacle Financial Partners Company Profile

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.