2,738 Shares in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Acquired by Waldron Private Wealth LLC

Waldron Private Wealth LLC purchased a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,738 shares of the financial services provider’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Emerald Advisers LLC purchased a new stake in shares of Pinnacle Financial Partners during the third quarter worth approximately $27,000. International Assets Investment Management LLC acquired a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at $28,000. Fifth Third Bancorp lifted its position in shares of Pinnacle Financial Partners by 101.4% during the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 213 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Pinnacle Financial Partners during the fourth quarter worth $32,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in Pinnacle Financial Partners by 57.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock valued at $37,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Wall Street Analyst Weigh In

PNFP has been the topic of several research analyst reports. Stephens reissued an “overweight” rating and set a $108.00 target price on shares of Pinnacle Financial Partners in a research report on Wednesday, January 17th. UBS Group reduced their price objective on shares of Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, January 18th. Jefferies Financial Group dropped their target price on shares of Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Barclays initiated coverage on shares of Pinnacle Financial Partners in a research note on Friday, March 8th. They issued an “equal weight” rating and a $93.00 price objective for the company. Finally, Truist Financial upped their target price on Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued 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 $92.57.

Pinnacle Financial Partners Stock Down 1.1 %

Pinnacle Financial Partners stock opened at $78.95 on Wednesday. The stock has a 50 day moving average of $82.53 and a two-hundred day moving average of $78.56. Pinnacle Financial Partners, Inc. has a twelve month low of $43.31 and a twelve month high of $92.33. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 11.00 and a beta of 1.08.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Wednesday, January 17th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.01. Pinnacle Financial Partners had a return on equity of 9.78% and a net margin of 20.17%. The company had revenue of $396.34 million for the quarter, compared to analysts’ expectations of $416.97 million. During the same quarter in the previous year, the firm posted $1.76 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, research analysts expect that Pinnacle Financial Partners, Inc. will post 6.83 earnings per share for the current year.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $87.43, for a total transaction of $553,519.33. Following the transaction, the chairman now directly owns 202,699 shares in the company, valued at $17,721,973.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Harold R. Carpenter sold 6,306 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $518,479.32. Following the sale, the chief financial officer now directly owns 63,856 shares of the company’s stock, valued at approximately $5,250,240.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $87.43, for a total value of $553,519.33. Following the completion of the sale, the chairman now directly owns 202,699 shares in the company, valued at approximately $17,721,973.57. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,175 shares of company stock worth $4,487,253. 1.87% of the stock is owned by corporate insiders.

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.