Sei Investments Co. Acquires 116,209 Shares of Pinnacle Financial Partners, Inc. $PNFP

Sei Investments Co. grew its holdings in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 94.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 239,438 shares of the company’s stock after purchasing an additional 116,209 shares during the period. Sei Investments Co. owned about 0.31% of Pinnacle Financial Partners worth $20,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PNFP. Brown Brothers Harriman & Co. bought a new position in shares of Pinnacle Financial Partners in the third quarter worth about $26,000. High Point Wealth Management LLC bought a new stake in Pinnacle Financial Partners during the 4th quarter valued at about $27,000. BOKF NA boosted its position in Pinnacle Financial Partners by 1,204.5% in the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after buying an additional 265 shares during the period. Activest Wealth Management purchased a new stake in Pinnacle Financial Partners in the 4th quarter valued at about $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in Pinnacle Financial Partners by 97.7% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 350 shares of the company’s stock worth $30,000 after acquiring an additional 173 shares in the last quarter. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Price Performance

Shares of NYSE PNFP opened at $104.66 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The stock has a market cap of $8.12 billion, a PE ratio of 14.38, a P/E/G ratio of 0.42 and a beta of 1.04. Pinnacle Financial Partners, Inc. has a 1-year low of $81.08 and a 1-year high of $107.00. The stock’s fifty day moving average is $98.45.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%.The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. As a group, equities research analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.2 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 7th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, August 7th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 27.47%.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, insider Robert A. Mccabe, Jr. acquired 10,013 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were purchased at an average price of $99.90 per share, with a total value of $1,000,298.70. Following the transaction, the insider directly owned 324,233 shares in the company, valued at approximately $32,390,876.70. This represents a 3.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

PNFP has been the topic of a number of research reports. Benchmark reduced their target price on shares of Pinnacle Financial Partners from $132.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. TD Cowen increased their price objective on Pinnacle Financial Partners from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday. Robert W. Baird assumed coverage on Pinnacle Financial Partners in a report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price objective on the stock. Stephens set a $112.00 target price on Pinnacle Financial Partners in a research report on Monday. Finally, DA Davidson upped their target price on Pinnacle Financial Partners from $109.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

About Pinnacle Financial Partners

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.