Insider Selling: Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) CEO Sells $201,260.00 in Stock

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) CEO M Terry Turner sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total transaction of $201,260.00. Following the sale, the chief executive officer now owns 254,552 shares in the company, valued at approximately $25,615,567.76. This trade represents a 0.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Pinnacle Financial Partners Price Performance

PNFP stock opened at $102.82 on Friday. The firm’s 50-day moving average price is $116.52 and its two-hundred day moving average price is $111.41. Pinnacle Financial Partners, Inc. has a 12-month low of $73.62 and a 12-month high of $131.91. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 17.19 and a beta of 1.09. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.10. The firm had revenue of $475.34 million for the quarter, compared to analysts’ expectations of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.68 earnings per share. As a group, equities analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 7th were paid a dividend of $0.24 per share. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.93%. Pinnacle Financial Partners’s payout ratio is presently 16.05%.

Analyst Upgrades and Downgrades

PNFP has been the topic of a number of analyst reports. Citigroup lifted their target price on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. Hovde Group cut shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 target price on the stock. in a research report on Monday, November 18th. Barclays upgraded shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $120.00 to $135.00 in a research report on Thursday, December 19th. Wells Fargo & Company lifted 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 research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $135.00 target price (up previously from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $125.18.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of large investors have recently modified their holdings of the stock. OneDigital Investment Advisors LLC boosted its stake in shares of Pinnacle Financial Partners by 1.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,646 shares of the financial services provider’s stock valued at $651,000 after purchasing an additional 88 shares in the last quarter. Principal Securities Inc. boosted its stake 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. Sage Mountain Advisors LLC boosted its stake in shares of Pinnacle Financial Partners by 0.3% during the 4th quarter. Sage Mountain Advisors LLC now owns 36,198 shares of the financial services provider’s stock valued at $4,141,000 after purchasing an additional 99 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Pinnacle Financial Partners by 0.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 17,976 shares of the financial services provider’s stock valued at $1,761,000 after purchasing an additional 100 shares in the last quarter. Finally, Utah Retirement Systems boosted its stake in shares of Pinnacle Financial Partners by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,090 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 87.40% 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.