US Bancorp DE Has $783,000 Stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

US Bancorp DE decreased its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 15.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,849 shares of the financial services provider’s stock after selling 1,251 shares during the quarter. US Bancorp DE’s holdings in Pinnacle Financial Partners were worth $783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PNFP. Ashton Thomas Securities LLC acquired a new position in Pinnacle Financial Partners in the third quarter valued at about $30,000. Brooklyn Investment Group acquired a new position in Pinnacle Financial Partners in the third quarter valued at about $70,000. UMB Bank n.a. raised its position in shares of Pinnacle Financial Partners by 48.1% during the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 239 shares during the period. Principal Securities Inc. lifted its holdings in shares of Pinnacle Financial Partners by 12.7% during the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 91 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at about $97,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Down 6.8 %

NASDAQ:PNFP opened at $99.42 on Tuesday. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 16.63 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. The stock’s 50 day moving average price is $117.60 and its two-hundred day moving average price is $111.52. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37.

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

Pinnacle Financial Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, February 7th. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.97%. Pinnacle Financial Partners’s payout ratio is presently 16.05%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PNFP. Barclays upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $120.00 to $135.00 in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $135.00 price objective (up previously from $115.00) on shares of Pinnacle Financial Partners in a report on Wednesday, December 4th. Citigroup lifted their price objective on Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Finally, Wells Fargo & Company lifted their price objective on Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Six 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.com, Pinnacle Financial Partners presently has a consensus rating of “Hold” and a consensus target price of $125.18.

Insider Buying and Selling

In related news, Director David B. Ingram sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $126.50, for a total transaction of $5,060,000.00. Following the transaction, the director now directly owns 40,991 shares of the company’s stock, valued at approximately $5,185,361.50. The trade was a 49.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 90,309 shares of company stock valued at $10,911,334. 1.87% of the stock is owned by insiders.

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.