Savant Capital LLC Purchases Shares of 2,137 Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Savant Capital LLC bought a new position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,137 shares of the financial services provider’s stock, valued at approximately $244,000.

Several other large investors have also bought and sold shares of PNFP. Creative Planning increased its position in shares of Pinnacle Financial Partners by 9.4% during the third quarter. Creative Planning now owns 18,710 shares of the financial services provider’s stock valued at $1,833,000 after acquiring an additional 1,614 shares during the last quarter. Blue Trust Inc. grew its stake in Pinnacle Financial Partners by 10.6% in the 3rd quarter. Blue Trust Inc. now owns 1,315 shares of the financial services provider’s stock valued at $129,000 after buying an additional 126 shares in the last quarter. Raymond James & Associates grew its holdings in Pinnacle Financial Partners by 2.5% during the 3rd quarter. Raymond James & Associates now owns 208,850 shares of the financial services provider’s stock valued at $20,461,000 after buying an additional 5,134 shares in the last quarter. Signaturefd LLC increased its position in shares of Pinnacle Financial Partners by 4.4% during the third quarter. Signaturefd LLC now owns 5,190 shares of the financial services provider’s stock valued at $508,000 after buying an additional 218 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Pinnacle Financial Partners by 9,804.4% during the 3rd quarter. International Assets Investment Management LLC now owns 36,151 shares of the financial services provider’s stock worth $3,542,000 after acquiring an additional 35,786 shares during the period. 87.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PNFP shares. Stephens reiterated an “overweight” rating and issued a $142.00 price objective on shares of Pinnacle Financial Partners in a research report on Wednesday, January 22nd. Hovde Group lowered shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price target on the stock. in a report on Monday, November 18th. Barclays raised Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $120.00 to $135.00 in a research note on Thursday, December 19th. Citigroup boosted their price objective on Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. Finally, Wells Fargo & Company increased their target price on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $125.18.

Pinnacle Financial Partners Trading Up 1.4 %

NASDAQ PNFP opened at $121.91 on Wednesday. The stock’s 50 day moving average is $118.66 and its 200 day moving average is $109.07. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $9.42 billion, a PE ratio of 20.39 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a twelve month low of $73.62 and a twelve month high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.10. The business had revenue of $475.34 million during the quarter, compared to the consensus estimate of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 earnings per share. Research analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 7th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s payout ratio is currently 14.72%.

Insider Transactions at Pinnacle Financial Partners

In related news, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $124.09, for a total transaction of $6,204,500.00. Following the transaction, the chairman now owns 123,000 shares in the company, valued at $15,263,070. This represents a 28.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Ingram sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $126.02, for a total value of $2,520,400.00. Following the completion of the transaction, the director now directly owns 92,565 shares in the company, valued at $11,665,041.30. The trade was a 17.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 126,970 shares of company stock worth $15,922,061. Corporate insiders own 1.87% of the company’s stock.

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.