Pinnacle Financial Partners, Inc. (PNFP) Stake Raised by Atlanta Capital Management Co. L L C

Atlanta Capital Management Co. L L C increased its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 455,329 shares of the financial services provider’s stock after purchasing an additional 3,061 shares during the period. Atlanta Capital Management Co. L L C owned 0.59% of Pinnacle Financial Partners worth $28,595,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PNFP. Advisor Group Inc. grew its position in Pinnacle Financial Partners by 14.5% during the second quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 291 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Pinnacle Financial Partners during the first quarter valued at about $151,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Pinnacle Financial Partners by 61.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,464 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 935 shares during the period. Sei Investments Co. grew its position in Pinnacle Financial Partners by 270.5% during the first quarter. Sei Investments Co. now owns 2,638 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 1,926 shares during the period. Finally, Creative Planning grew its position in Pinnacle Financial Partners by 100.2% during the second quarter. Creative Planning now owns 3,218 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 1,611 shares during the period. 69.28% of the stock is owned by institutional investors and hedge funds.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $66.02, for a total transaction of $198,060.00. Following the transaction, the insider now directly owns 64,794 shares of the company’s stock, valued at $4,277,699.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph C. Galante bought 1,000 shares of the stock in a transaction on Thursday, September 7th. The shares were acquired at an average cost of $59.40 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders have sold 110,480 shares of company stock worth $7,150,574 over the last three months. Company insiders own 5.41% of the company’s stock.

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PNFP has been the subject of a number of research reports. Zacks Investment Research downgraded Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a research report on Wednesday. Hilliard Lyons raised 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 an “overweight” rating and set a $72.00 price target on shares of Pinnacle Financial Partners in a research report on Thursday, October 5th. SunTrust Banks, Inc. reissued a “buy” rating and set a $73.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday, October 4th. Finally, Stephens reissued a “hold” rating and set a $71.00 price target on shares of Pinnacle Financial Partners in a research report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $68.40.

Shares of Pinnacle Financial Partners, Inc. (NASDAQ PNFP) traded down 0.15% on Wednesday, hitting $67.30. The company’s stock had a trading volume of 24,397 shares. The stock’s 50 day moving average price is $63.57 and its 200 day moving average price is $63.45. Pinnacle Financial Partners, Inc. has a 52 week low of $49.40 and a 52 week high of $71.85. The stock has a market capitalization of $5.23 billion, a P/E ratio of 21.64 and a beta of 1.31.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.04. The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $130.23 million. Pinnacle Financial Partners had a net margin of 27.36% and a return on equity of 7.67%. The business’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. On average, analysts forecast that Pinnacle Financial Partners, Inc. will post $3.48 earnings per share for the current fiscal year.

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.

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

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