Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) is Leeward Investments LLC MA’s 7th Largest Position

Leeward Investments LLC MA decreased its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 1.3% in the fourth quarter, HoldingsChannel reports. The fund owned 347,976 shares of the financial services provider’s stock after selling 4,661 shares during the quarter. Pinnacle Financial Partners makes up 1.4% of Leeward Investments LLC MA’s portfolio, making the stock its 7th largest position. Leeward Investments LLC MA’s holdings in Pinnacle Financial Partners were worth $30,350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Caprock Group LLC raised its holdings in shares of Pinnacle Financial Partners by 2.2% in the fourth quarter. Caprock Group LLC now owns 5,604 shares of the financial services provider’s stock worth $489,000 after buying an additional 122 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Pinnacle Financial Partners by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 33,040 shares of the financial services provider’s stock worth $2,215,000 after buying an additional 170 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of 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 worth $37,000 after buying an additional 200 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Pinnacle Financial Partners by 101.4% in the third quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock worth $28,000 after buying an additional 213 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Pinnacle Financial Partners by 17.6% in the third quarter. Venturi Wealth Management LLC now owns 2,000 shares of the financial services provider’s stock worth $134,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Insider Activity at Pinnacle Financial Partners

In other news, Chairman Richard D. Callicutt II sold 11,030 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $906,886.60. Following the sale, the chairman now owns 97,226 shares in the company, valued at $7,993,921.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Harold R. Carpenter sold 6,306 shares of Pinnacle Financial Partners 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 owns 63,856 shares in the company, valued at $5,250,240.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Richard D. Callicutt II sold 11,030 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total transaction of $906,886.60. Following the completion of the sale, the chairman now owns 97,226 shares in the company, valued at approximately $7,993,921.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,844 shares of company stock worth $3,933,734. 1.87% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on PNFP. UBS Group decreased their price target on shares of Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, January 18th. 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 on the stock. Jefferies Financial Group cut their price objective on shares of Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Stephens reiterated an “overweight” rating and issued a $109.00 price objective on shares of Pinnacle Financial Partners in a research note on Tuesday. Finally, Hovde Group cut their price objective on shares of Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pinnacle Financial Partners has a consensus rating of “Hold” and an average price target of $95.50.

Pinnacle Financial Partners Stock Down 1.5 %

PNFP stock opened at $80.29 on Friday. The firm has a market cap of $6.19 billion, a PE ratio of 11.49 and a beta of 1.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s fifty day moving average is $82.20 and its 200 day moving average is $79.29. Pinnacle Financial Partners, Inc. has a one year low of $43.31 and a one year high of $92.33.

Pinnacle Financial Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.88 annualized dividend and a yield of 1.10%. Pinnacle Financial Partners’s dividend payout ratio is presently 12.59%.

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.