North Reef Capital Management LP Takes Position in Pinnacle Financial Partners, Inc. $PNFP

North Reef Capital Management LP acquired a new stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 100,935 shares of the company’s stock, valued at approximately $8,695,000. North Reef Capital Management LP owned about 0.13% of Pinnacle Financial Partners at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new stake in shares of Pinnacle Financial Partners in the third quarter worth about $26,000. High Point Wealth Management LLC bought a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth about $27,000. BOKF NA increased its holdings in shares of Pinnacle Financial Partners by 1,204.5% during the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after acquiring an additional 265 shares during the last quarter. Activest Wealth Management acquired a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at about $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of 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 valued at $30,000 after acquiring an additional 173 shares in the last quarter. 87.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PNFP shares. Barclays decreased their target price on Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings raised shares of Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Stephens boosted their price objective on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Pinnacle Financial Partners currently has an average rating of “Moderate Buy” and a consensus price target of $116.65.

Pinnacle Financial Partners Stock Up 2.7%

Shares of NYSE:PNFP opened at $102.53 on Friday. The company has a market cap of $7.95 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 0.41 and a beta of 1.04. The firm’s 50 day simple moving average is $97.90. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.90 and a current ratio of 0.94. Pinnacle Financial Partners, Inc. has a twelve month low of $81.08 and a twelve month high of $107.00.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, topping the consensus estimate 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. Analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.18 EPS for the current year.

Pinnacle Financial Partners Profile

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.