Landmark Financial Advisors LLC Makes New Investment in Pinnacle Financial Partners (NASDAQ:PNFP)

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Landmark Financial Advisors LLC acquired a new position in Pinnacle Financial Partners (NASDAQ:PNFP) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,537 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Private Capital Group LLC lifted its holdings in shares of Pinnacle Financial Partners by 76.6% during the first quarter. Private Capital Group LLC now owns 544 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 236 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Pinnacle Financial Partners during the first quarter valued at approximately $35,000. CENTRAL TRUST Co lifted its holdings in shares of Pinnacle Financial Partners by 376.7% during the second quarter. CENTRAL TRUST Co now owns 715 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 565 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Pinnacle Financial Partners by 66.7% during the second quarter. Valeo Financial Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 479 shares during the last quarter. Finally, Gradient Investments LLC purchased a new position in shares of Pinnacle Financial Partners during the second quarter valued at approximately $79,000. Institutional investors and hedge funds own 79.85% of the company’s stock.

NASDAQ PNFP traded up $1.17 during mid-day trading on Friday, reaching $53.98. The stock had a trading volume of 440,900 shares, compared to its average volume of 500,706. Pinnacle Financial Partners has a 1 year low of $43.23 and a 1 year high of $66.54. The stock has a market cap of $4.14 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. The company has a fifty day moving average price of $57.37 and a 200 day moving average price of $56.68. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.99.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Pinnacle Financial Partners had a net margin of 30.46% and a return on equity of 9.82%. The company had revenue of $259.60 million during the quarter, compared to analyst estimates of $252.44 million. During the same period in the previous year, the business earned $1.15 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities research analysts expect that Pinnacle Financial Partners will post 5.25 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be issued a $0.16 dividend. The ex-dividend date is Thursday, August 1st. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. Pinnacle Financial Partners’s payout ratio is currently 13.50%.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 500 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $60.48, for a total value of $30,240.00. Following the completion of the sale, the insider now owns 22,175 shares of the company’s stock, valued at approximately $1,341,144. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles E. Brock sold 2,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $56.05, for a total transaction of $112,100.00. Following the completion of the sale, the director now directly owns 36,304 shares of the company’s stock, valued at approximately $2,034,839.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,000 shares of company stock valued at $170,645. 2.97% of the stock is owned by company insiders.

Several equities analysts have recently issued reports on PNFP shares. Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, July 23rd. Stephens reiterated a “hold” rating and set a $63.00 target price on shares of Pinnacle Financial Partners in a report on Thursday, July 18th. Finally, BidaskClub lowered shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $62.00.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.

See Also: Return on Equity (ROE)

Institutional Ownership by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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