Pinnacle Financial Partners (NASDAQ:PNFP) Director Ronald L. Samuel sold 500 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $64.46, for a total value of $32,230.00. Following the completion of the transaction, the director now owns 20,175 shares in the company, valued at $1,300,480.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of PNFP stock opened at $64.26 on Thursday. The firm’s 50 day moving average price is $61.94 and its 200-day moving average price is $57.79. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. Pinnacle Financial Partners has a one year low of $43.23 and a one year high of $65.00. The firm has a market cap of $4.94 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.75 and a beta of 1.45.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.10. Pinnacle Financial Partners had a net margin of 30.38% and a return on equity of 9.99%. The firm had revenue of $278.43 million during the quarter, compared to the consensus estimate of $267.58 million. During the same quarter last year, the firm earned $1.21 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, research analysts predict that Pinnacle Financial Partners will post 5.33 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Wasatch Advisors Inc. grew its stake in shares of Pinnacle Financial Partners by 48.9% in the second quarter. Wasatch Advisors Inc. now owns 1,686,798 shares of the financial services provider’s stock valued at $96,957,000 after buying an additional 553,876 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Pinnacle Financial Partners by 3,903.6% in the 3rd quarter. Voya Investment Management LLC now owns 532,045 shares of the financial services provider’s stock valued at $30,194,000 after buying an additional 518,756 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Pinnacle Financial Partners by 45.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 946,000 shares of the financial services provider’s stock valued at $54,376,000 after buying an additional 296,107 shares during the period. Emerald Advisers LLC purchased a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at $16,026,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Pinnacle Financial Partners during the 3rd quarter worth about $15,499,000. Institutional investors own 78.52% of the company’s stock.
PNFP has been the subject of several recent analyst reports. ValuEngine raised Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 19th. BidaskClub raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Zacks Investment Research cut Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Stephens reiterated a “hold” rating and set a $63.00 price target on shares of Pinnacle Financial Partners in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. initiated coverage on Pinnacle Financial Partners in a research report on Wednesday, September 18th. They set a “neutral” rating and a $62.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Pinnacle Financial Partners currently has an average rating of “Hold” and a consensus price target of $62.50.
About Pinnacle Financial Partners
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.
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