Northwest & Ethical Investments L.P. Makes New Investment in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Northwest & Ethical Investments L.P. acquired a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,400 shares of the financial services provider’s stock, valued at approximately $137,000.

Several other institutional investors also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Pinnacle Financial Partners by 0.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,132 shares of the financial services provider’s stock valued at $19,607,000 after purchasing an additional 1,290 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Pinnacle Financial Partners by 7.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,364 shares of the financial services provider’s stock worth $1,603,000 after purchasing an additional 1,102 shares during the last quarter. De Lisle Partners LLP bought a new stake in Pinnacle Financial Partners during the 3rd quarter valued at approximately $575,000. Glenmede Trust Co. NA acquired a new stake in Pinnacle Financial Partners in the 3rd quarter valued at approximately $215,000. Finally, Townsquare Capital LLC increased its position in Pinnacle Financial Partners by 6.6% in the 3rd quarter. Townsquare Capital LLC now owns 9,350 shares of the financial services provider’s stock worth $916,000 after buying an additional 581 shares during the period. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Stock Down 0.1 %

NASDAQ PNFP opened at $127.11 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. Pinnacle Financial Partners, Inc. has a 52 week low of $72.23 and a 52 week high of $131.91. The stock has a market capitalization of $9.82 billion, a P/E ratio of 24.17 and a beta of 1.04. The stock has a fifty day moving average of $108.95 and a 200-day moving average of $94.47.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.07. The company had revenue of $810.11 million for the quarter, compared to the consensus estimate of $454.18 million. Pinnacle Financial Partners had a net margin of 13.97% and a return on equity of 8.89%. During the same period in the prior year, the company posted $1.79 EPS. On average, equities research analysts forecast that Pinnacle Financial Partners, Inc. will post 6.8 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 1st were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Friday, November 1st. Pinnacle Financial Partners’s dividend payout ratio is presently 16.73%.

Analyst Upgrades and Downgrades

PNFP has been the topic of a number of research reports. Citigroup boosted their target price on shares of Pinnacle Financial Partners from $113.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company lifted their target price on Pinnacle Financial Partners from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Stephens upped their price target on Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Hovde Group downgraded Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price objective for the company. in a research report on Monday, November 18th. Finally, Barclays raised their target price on Pinnacle Financial Partners from $101.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Pinnacle Financial Partners has an average rating of “Hold” and an average target price of $108.70.

About Pinnacle Financial Partners

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.