Oxbow Advisors LLC Sells 2,650 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Oxbow Advisors LLC lessened its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 23.2% during the 4th quarter, HoldingsChannel reports. The firm owned 8,750 shares of the financial services provider’s stock after selling 2,650 shares during the period. Oxbow Advisors LLC’s holdings in Pinnacle Financial Partners were worth $1,001,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PNFP. Ashton Thomas Securities LLC bought a new position in shares of Pinnacle Financial Partners during the 3rd quarter valued at about $30,000. Values First Advisors Inc. bought a new position in shares of Pinnacle Financial Partners during the 3rd quarter valued at about $49,000. Brooklyn Investment Group bought a new stake in Pinnacle Financial Partners in the 3rd quarter valued at approximately $70,000. UMB Bank n.a. lifted its stake in 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 acquiring an additional 239 shares in the last quarter. Finally, Principal Securities Inc. lifted its stake in 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 acquiring an additional 91 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Down 3.4 %

NASDAQ:PNFP opened at $114.21 on Friday. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 19.10 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a twelve month low of $73.62 and a twelve month high of $131.91. The stock’s 50 day moving average price is $118.68 and its two-hundred day moving average price is $109.45. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.10. The firm had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.68 EPS. Equities research analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 7th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, February 7th. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.84%. Pinnacle Financial Partners’s payout ratio is presently 16.05%.

Insider Buying and Selling

In related news, Director David B. Ingram sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $126.50, for a total transaction of $5,060,000.00. Following the transaction, the director now directly owns 40,991 shares of the company’s stock, valued at approximately $5,185,361.50. The trade was a 49.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $124.09, for a total value of $6,204,500.00. Following the transaction, the chairman now directly owns 123,000 shares in the company, valued at $15,263,070. The trade was a 28.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,970 shares of company stock valued at $15,922,061. 1.87% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on PNFP. Hovde Group cut 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 note on Monday, November 18th. Barclays upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $120.00 to $135.00 in a research note on Thursday, December 19th. Wells Fargo & Company boosted their target price on Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. cut their target price on 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. Finally, Stephens restated an “overweight” rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $125.18.

Pinnacle Financial Partners 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.