HL Financial Services LLC Buys Shares of 7,055 Pinnacle Financial Partners, Inc. (PNFP)

HL Financial Services LLC bought a new position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,055 shares of the financial services provider’s stock, valued at approximately $472,000.

Other large investors have also added to or reduced their stakes in the company. Advisor Group Inc. grew its position in shares of Pinnacle Financial Partners by 14.5% in the 2nd quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock worth $144,000 after buying an additional 291 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Pinnacle Financial Partners by 61.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,464 shares of the financial services provider’s stock worth $155,000 after buying an additional 935 shares during the period. Creative Planning grew its position in shares of Pinnacle Financial Partners by 100.2% in the 2nd quarter. Creative Planning now owns 3,218 shares of the financial services provider’s stock worth $202,000 after buying an additional 1,611 shares during the period. Riverhead Capital Management LLC grew its position in shares of Pinnacle Financial Partners by 149.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,496 shares of the financial services provider’s stock worth $220,000 after buying an additional 2,096 shares during the period. Finally, South State Corp purchased a new stake in shares of Pinnacle Financial Partners in the 2nd quarter worth about $223,000. 70.35% of the stock is currently owned by hedge funds and other institutional investors.

In other Pinnacle Financial Partners news, Chairman Richard D. Callicutt II sold 30,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $67.44, for a total transaction of $2,023,200.00. Following the transaction, the chairman now owns 168,241 shares in the company, valued at approximately $11,346,173.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $60.45, for a total transaction of $181,350.00. Following the transaction, the insider now owns 61,794 shares in the company, valued at approximately $3,735,447.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,711 shares of company stock worth $4,466,727. 5.41% of the stock is currently owned by company insiders.

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Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) opened at $64.50 on Tuesday. The stock has a market cap of $4,962.60, a PE ratio of 18.78, a P/E/G ratio of 1.50 and a beta of 1.32. Pinnacle Financial Partners, Inc. has a one year low of $58.40 and a one year high of $71.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.99 and a quick ratio of 0.98.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.01. The company had revenue of $216.20 million for the quarter, compared to analysts’ expectations of $217.13 million. Pinnacle Financial Partners had a net margin of 27.41% and a return on equity of 7.36%. Pinnacle Financial Partners’s revenue was up 102.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. analysts expect that Pinnacle Financial Partners, Inc. will post 3.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 3rd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Thursday, November 2nd. Pinnacle Financial Partners’s payout ratio is 17.34%.

A number of analysts have recently weighed in on PNFP shares. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $74.00 target price on shares of Pinnacle Financial Partners in a research report on Friday, October 20th. Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Wednesday, August 23rd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $72.00 target price on shares of Pinnacle Financial Partners in a research report on Thursday, October 5th. BidaskClub downgraded shares of Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Finally, Zacks Investment Research cut shares of Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a research note on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $73.25.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

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

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