B. Metzler seel. Sohn & Co. AG Sells 9,022 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

B. Metzler seel. Sohn & Co. AG cut its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 24.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,788 shares of the financial services provider’s stock after selling 9,022 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Pinnacle Financial Partners were worth $3,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. grew its position in Pinnacle Financial Partners by 48.1% in the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 239 shares in the last quarter. Principal Securities Inc. boosted its stake in Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after buying an additional 91 shares in the last quarter. Trust Co. of Vermont purchased a new position in Pinnacle Financial Partners in the 4th quarter worth approximately $97,000. Values First Advisors Inc. lifted its position in Pinnacle Financial Partners by 189.9% in the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 955 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in Pinnacle Financial Partners by 20.6% during the 4th quarter. Blue Trust Inc. now owns 1,586 shares of the financial services provider’s stock valued at $181,000 after buying an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Insider Buying and Selling

In other news, Director David B. Ingram sold 10,309 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.00, for a total value of $1,298,934.00. Following the transaction, the director now directly owns 82,256 shares in the company, 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 available at this hyperlink. Also, Director Glenda Baskin Glover sold 3,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $101.55, for a total value of $304,650.00. Following the sale, the director now owns 9,943 shares of the company’s stock, valued at $1,009,711.65. This represents a 23.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,350 shares of company stock valued at $11,421,320. 1.46% of the stock is owned by corporate insiders.

Pinnacle Financial Partners Stock Down 1.2 %

PNFP opened at $104.75 on Wednesday. The firm’s 50 day simple moving average is $114.04 and its two-hundred day simple moving average is $112.53. The company has a market capitalization of $8.10 billion, a PE ratio of 17.52 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a 1-year low of $73.62 and a 1-year high of $131.91. 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 announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. The company had revenue of $475.34 million for the quarter, compared to analysts’ expectations of $470.33 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. Pinnacle Financial Partners’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period last year, the firm earned $1.68 EPS. As a group, equities analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, February 7th. This is an increase 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 0.92%. Pinnacle Financial Partners’s payout ratio is 16.05%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PNFP shares. Barclays raised Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $120.00 to $135.00 in a research report on Thursday, December 19th. Citigroup raised their price target on Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. Stephens restated an “overweight” rating and issued a $142.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Wells Fargo & Company raised their price objective on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $125.18.

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.