KBC Group NV Has $245,000 Stock Holdings in Pinnacle Financial Partners, Inc. $PNFP

KBC Group NV trimmed its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 38.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,221 shares of the financial services provider’s stock after selling 1,416 shares during the period. KBC Group NV’s holdings in Pinnacle Financial Partners were worth $245,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ellerson Group Inc. ADV boosted its holdings in Pinnacle Financial Partners by 4.3% in the second quarter. Ellerson Group Inc. ADV now owns 24,225 shares of the financial services provider’s stock valued at $2,675,000 after acquiring an additional 988 shares during the last quarter. Vise Technologies Inc. bought a new position in shares of Pinnacle Financial Partners in the 2nd quarter valued at about $269,000. ProShare Advisors LLC boosted its stake in shares of Pinnacle Financial Partners by 4.6% in the 2nd quarter. ProShare Advisors LLC now owns 3,409 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 149 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Pinnacle Financial Partners during the 2nd quarter worth approximately $6,734,000. Finally, True Wealth Design LLC raised its stake in shares of Pinnacle Financial Partners by 1,778.3% during the second quarter. True Wealth Design LLC now owns 432 shares of the financial services provider’s stock worth $48,000 after buying an additional 409 shares during the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director G Kennedy Thompson purchased 5,000 shares of the business’s stock in a transaction on Monday, October 20th. The shares were purchased at an average price of $87.63 per share, with a total value of $438,150.00. Following the completion of the purchase, the director owned 33,372 shares in the company, valued at $2,924,388.36. This represents a 17.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Stock Performance

Shares of Pinnacle Financial Partners stock opened at $86.23 on Wednesday. The stock’s fifty day simple moving average is $90.42 and its 200 day simple moving average is $99.13. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $6.69 billion, a PE ratio of 10.96 and a beta of 1.12. Pinnacle Financial Partners, Inc. has a 12 month low of $81.57 and a 12 month high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.22. The firm had revenue of $544.80 million during the quarter, compared to analysts’ expectations of $526.40 million. Pinnacle Financial Partners had a return on equity of 9.91% and a net margin of 19.17%.During the same period in the previous year, the firm earned $1.86 earnings per share. On average, research analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 7th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 7th. Pinnacle Financial Partners’s dividend payout ratio is presently 12.20%.

Analysts Set New Price Targets

PNFP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their price objective on shares of Pinnacle Financial Partners from $125.00 to $95.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 13th. TD Cowen assumed coverage on Pinnacle Financial Partners in a research report on Thursday, September 25th. They issued a “buy” rating and a $122.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Pinnacle Financial Partners in a report on Friday, October 31st. Hovde Group cut Pinnacle Financial Partners from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Finally, Stephens decreased their target price on Pinnacle Financial Partners from $104.00 to $97.00 and set an “equal weight” rating for the company in a research report on Friday, October 17th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $109.55.

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.