Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) is Lee Danner & Bass Inc.’s 9th Largest Position

Lee Danner & Bass Inc. lessened its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 197,539 shares of the financial services provider’s stock after selling 1,723 shares during the period. Pinnacle Financial Partners makes up approximately 1.8% of Lee Danner & Bass Inc.’s portfolio, making the stock its 9th largest position. Lee Danner & Bass Inc. owned 0.26% of Pinnacle Financial Partners worth $22,596,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNFP. Brooklyn Investment Group acquired a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at $70,000. UMB Bank n.a. raised its holdings in shares of Pinnacle Financial Partners by 48.1% in the 4th quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 239 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Pinnacle Financial Partners by 12.7% in 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. Trust Co. of Vermont acquired a new stake in shares of Pinnacle Financial Partners in the 4th quarter valued at $97,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at $137,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Analyst Ratings Changes

PNFP has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Stephens reiterated an “overweight” rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Citigroup lifted their price target on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. Barclays upgraded shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $135.00 in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Six equities research 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, the stock currently has an average rating of “Hold” and an average target price of $125.18.

Insider Activity

In other news, Director David B. Ingram sold 10,309 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.00, for a total value of $1,298,934.00. Following the sale, the director now owns 82,256 shares of the company’s stock, valued at $10,364,256. The trade was a 11.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO M Terry Turner sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total transaction of $201,260.00. Following the sale, the chief executive officer now directly owns 254,552 shares in the company, valued at approximately $25,615,567.76. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,350 shares of company stock valued at $11,421,320 over the last quarter. Corporate insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Trading Down 0.6 %

NASDAQ PNFP opened at $105.53 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $8.16 billion, a PE ratio of 17.65 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a one year low of $73.62 and a one year high of $131.91. The firm’s fifty day moving average is $115.71 and its two-hundred day moving average is $111.59.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.10. The business had revenue of $475.34 million for 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 quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 earnings per share. Analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 7th were issued a $0.24 dividend. This is an increase from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.96 annualized dividend and a dividend yield of 0.91%. Pinnacle Financial Partners’s payout ratio is presently 16.05%.

Pinnacle Financial Partners Company 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.