MML Investors Services LLC Invests $296,000 in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

MML Investors Services LLC bought a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the 1st quarter, HoldingsChannel reports. The fund bought 3,335 shares of the financial services provider’s stock, valued at approximately $296,000.

Other large investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new stake in shares of Pinnacle Financial Partners during the first quarter worth about $46,000. CWM LLC increased its position in shares of Pinnacle Financial Partners by 48.1% during the first quarter. CWM LLC now owns 659 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 214 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Pinnacle Financial Partners by 100.0% during the first quarter. International Assets Investment Management LLC now owns 900 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 450 shares in the last quarter. Concord Wealth Partners bought a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth about $107,000. Finally, Panagora Asset Management Inc. bought a new stake in Pinnacle Financial Partners in the 1st quarter worth about $119,000. 80.30% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Wednesday, June 30th. Raymond James reaffirmed a “market perform” rating on shares of Pinnacle Financial Partners in a research report on Tuesday, April 27th. Seaport Global Securities assumed coverage on shares of Pinnacle Financial Partners in a research report on Friday, May 21st. They issued a “buy” rating and a $103.00 price objective for the company. Seaport Res Ptn reaffirmed a “buy” rating on shares of Pinnacle Financial Partners in a research report on Friday, May 21st. Finally, Wells Fargo & Company raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and set a $105.00 price objective for the company in a research report on Wednesday, April 21st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Pinnacle Financial Partners presently has a consensus rating of “Buy” and a consensus price target of $90.00.

Pinnacle Financial Partners stock opened at $89.65 on Thursday. Pinnacle Financial Partners, Inc. has a twelve month low of $32.80 and a twelve month high of $96.52. The company’s 50 day moving average is $89.14. The company has a market cap of $6.82 billion, a P/E ratio of 16.98 and a beta of 1.38. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Monday, July 19th. The financial services provider reported $1.68 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.24. The company had revenue of $331.43 million for the quarter, compared to analysts’ expectations of $315.54 million. Pinnacle Financial Partners had a net margin of 30.04% and a return on equity of 9.19%. Pinnacle Financial Partners’s revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 EPS. As a group, research analysts expect that Pinnacle Financial Partners, Inc. will post 5.87 earnings per share for the current fiscal year.

Pinnacle Financial Partners 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 in the United States. The company accepts various deposits, including savings, checking, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts.

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

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