Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Stock Holdings Lessened by Bfsg LLC

Bfsg LLC reduced its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 3.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,980 shares of the financial services provider’s stock after selling 150 shares during the period. Bfsg LLC’s holdings in Pinnacle Financial Partners were worth $347,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new position in shares of Pinnacle Financial Partners in the 4th quarter worth about $32,000. Emerald Advisers LLC bought a new stake in Pinnacle Financial Partners in the 3rd quarter valued at about $27,000. Fifth Third Bancorp lifted its position in Pinnacle Financial Partners by 101.4% in the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 213 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Pinnacle Financial Partners by 57.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Finally, CWM LLC lifted its position in Pinnacle Financial Partners by 62.3% in the 4th quarter. CWM LLC now owns 865 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 332 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group cut their price objective on shares of Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, January 18th. Jefferies Financial Group dropped their price target 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. JPMorgan Chase & Co. dropped their price target on shares of Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday. Stephens restated an “overweight” rating and set a $109.00 price target on shares of Pinnacle Financial Partners in a research report on Tuesday. Finally, Truist Financial boosted their price target on shares of Pinnacle Financial Partners from $93.00 to $99.00 and gave the stock 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 five have assigned a buy rating to the company. According to MarketBeat.com, Pinnacle Financial Partners presently has a consensus rating of “Hold” and an average price target of $96.13.

Pinnacle Financial Partners Price Performance

Shares of PNFP traded up $1.62 during mid-day trading on Wednesday, hitting $82.96. The company’s stock had a trading volume of 518,146 shares, compared to its average volume of 466,101. The firm has a 50-day moving average price of $82.34 and a 200 day moving average price of $79.15. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 11.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.90 and a quick ratio of 0.90. Pinnacle Financial Partners, Inc. has a fifty-two week low of $43.31 and a fifty-two week high of $92.33.

Insider Transactions at Pinnacle Financial Partners

In other news, CEO M Terry Turner sold 24,057 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $1,977,966.54. Following the transaction, the chief executive officer now owns 294,790 shares of the company’s stock, valued at approximately $24,237,633.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO M Terry Turner sold 24,057 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $1,977,966.54. Following the transaction, the chief executive officer now directly owns 294,790 shares of the company’s stock, valued at $24,237,633.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Harold R. Carpenter sold 6,306 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $518,479.32. Following the completion of the transaction, the chief financial officer now directly owns 63,856 shares in the company, valued at $5,250,240.32. The disclosure for this sale can be found here. Insiders have sold 47,844 shares of company stock valued at $3,933,734 in the last quarter. Insiders own 1.87% of the company’s stock.

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 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.