Oregon Public Employees Retirement Fund Buys 14,300 Shares of Pinnacle Financial Partners, Inc. $PNFP

Oregon Public Employees Retirement Fund grew its stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 92.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,759 shares of the company’s stock after buying an additional 14,300 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Pinnacle Financial Partners were worth $2,839,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brown Brothers Harriman & Co. purchased a new stake in shares of Pinnacle Financial Partners during the third quarter worth about $26,000. High Point Wealth Management LLC purchased a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth about $27,000. BOKF NA boosted its holdings in shares of Pinnacle Financial Partners by 1,204.5% during the third quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the period. Activest Wealth Management purchased a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth about $28,000. Finally, Covestor Ltd boosted its holdings in shares of Pinnacle Financial Partners by 193.9% during the third quarter. Covestor Ltd now owns 338 shares of the company’s stock worth $32,000 after purchasing an additional 223 shares during the period. 87.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PNFP. Barclays dropped their target price on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Stephens increased their target price on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Weiss Ratings began coverage on shares of Pinnacle Financial Partners in a report on Monday, March 9th. They set a “hold (c+)” rating for the company. Wall Street Zen upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, UBS Group increased their target price on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.19.

Pinnacle Financial Partners Price Performance

Shares of PNFP opened at $94.00 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. Pinnacle Financial Partners, Inc. has a one year low of $81.08 and a one year high of $120.46. The business has a 50-day moving average of $91.13. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 0.36 and a beta of 1.06.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.30 by $0.09. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. Analysts expect that Pinnacle Financial Partners, Inc. will post 10.34 EPS for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, May 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 27.74%.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.