11,828 Shares in Pinnacle Financial Partners, Inc. $PNFP Bought by Oxbow Advisors LLC

Oxbow Advisors LLC purchased a new stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,828 shares of the company’s stock, valued at approximately $1,193,000.

Several other institutional investors have also bought and sold shares of the business. BlackRock Inc. purchased a new position in Pinnacle Financial Partners in the second quarter worth about $1,704,708,000. AQR Capital Management LLC raised its position in Pinnacle Financial Partners by 1,697.4% during the third quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company’s stock valued at $306,474,000 after purchasing an additional 3,085,867 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Pinnacle Financial Partners by 80.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,035,295 shares of the company’s stock valued at $433,712,000 after purchasing an additional 2,244,659 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at approximately $187,822,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Pinnacle Financial Partners in the 4th quarter valued at approximately $159,545,000. Institutional investors own 87.40% of the company’s stock.

Insiders Place Their Bets

In related news, insider Robert A. Mccabe, Jr. acquired 10,013 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was bought at an average price of $99.90 per share, for a total transaction of $1,000,298.70. Following the acquisition, the insider directly owned 324,233 shares of the company’s stock, valued at $32,390,876.70. This represents a 3.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider M Terry Turner sold 54,107 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $108.13, for a total transaction of $5,850,589.91. Following the completion of the transaction, the insider owned 248,123 shares in the company, valued at $26,829,539.99. This represents a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 177,228 shares of company stock valued at $19,153,713 over the last three months. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PNFP shares. TD Cowen boosted their target price on Pinnacle Financial Partners from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Stephens set a $112.00 price target on Pinnacle Financial Partners in a research report on Monday, July 27th. JPMorgan Chase & Co. dropped their price objective on shares of Pinnacle Financial Partners from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. UBS Group boosted their price objective on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Piper Sandler increased their target price on shares of Pinnacle Financial Partners from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Pinnacle Financial Partners has a consensus rating of “Moderate Buy” and a consensus target price of $118.35.

Pinnacle Financial Partners Stock Performance

Shares of PNFP stock opened at $104.63 on Wednesday. Pinnacle Financial Partners, Inc. has a 52-week low of $81.08 and a 52-week high of $110.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market cap of $8.12 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 0.43 and a beta of 1.03. The business’s 50 day simple moving average is $101.17.

Pinnacle Financial Partners (NYSE:PNFP) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%. As a group, sell-side analysts forecast that Pinnacle Financial Partners, Inc. will post 10.19 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

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

Pinnacle Financial Partners Company 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.