Northwestern Mutual Investment Management Company LLC Buys 16,285 Shares of Pinnacle Financial Partners, Inc. $PNFP

Northwestern Mutual Investment Management Company LLC increased its stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 95.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 33,426 shares of the company’s stock after acquiring an additional 16,285 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Pinnacle Financial Partners were worth $3,189,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Profund Advisors LLC raised its holdings in Pinnacle Financial Partners by 4.6% during the third quarter. Profund Advisors LLC now owns 2,895 shares of the company’s stock worth $272,000 after acquiring an additional 127 shares in the last quarter. Diversified Trust Co. raised its holdings in Pinnacle Financial Partners by 0.3% during the fourth quarter. Diversified Trust Co. now owns 54,349 shares of the company’s stock worth $5,185,000 after acquiring an additional 137 shares in the last quarter. Whittier Trust Co. raised its holdings in Pinnacle Financial Partners by 10.1% during the fourth quarter. Whittier Trust Co. now owns 1,521 shares of the company’s stock worth $145,000 after acquiring an additional 140 shares in the last quarter. Stephens Inc. AR raised its holdings in Pinnacle Financial Partners by 7.3% during the third quarter. Stephens Inc. AR now owns 2,226 shares of the company’s stock worth $209,000 after acquiring an additional 152 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC raised its holdings in Pinnacle Financial Partners by 1.3% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 12,850 shares of the company’s stock worth $1,226,000 after acquiring an additional 165 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Down 1.5%

NYSE: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. The company has a 50 day simple moving average of $91.13. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 0.36 and a beta of 1.06. Pinnacle Financial Partners, Inc. has a 12-month low of $81.08 and a 12-month high of $120.46.

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

Pinnacle Financial Partners Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Stephens upped their target price on Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Raymond James Financial reiterated a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. Truist Financial upped their target price on Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Piper Sandler upped their target price on Pinnacle Financial Partners from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Finally, UBS Group boosted their price target on Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.19.

About Pinnacle Financial Partners

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.