Jefferies Financial Group Inc. Sells 13,953 Shares of Pinnacle Financial Partners, Inc. $PNFP

Jefferies Financial Group Inc. trimmed its holdings in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 10.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,632 shares of the company’s stock after selling 13,953 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Pinnacle Financial Partners were worth $11,032,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PNFP. Goldman Sachs Group Inc. grew its holdings in Pinnacle Financial Partners by 6.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock worth $69,060,000 after acquiring an additional 37,989 shares during the last quarter. Focus Partners Wealth grew its holdings in Pinnacle Financial Partners by 13.9% during the 1st quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock worth $504,000 after acquiring an additional 581 shares during the last quarter. Amundi grew its holdings in Pinnacle Financial Partners by 25,700.0% during the 2nd quarter. Amundi now owns 4,386 shares of the company’s stock worth $513,000 after acquiring an additional 4,369 shares during the last quarter. Jump Financial LLC bought a new stake in Pinnacle Financial Partners during the 2nd quarter worth approximately $229,000. Finally, Cerity Partners LLC grew its holdings in Pinnacle Financial Partners by 4.2% during the 2nd quarter. Cerity Partners LLC now owns 26,061 shares of the company’s stock worth $2,877,000 after acquiring an additional 1,039 shares during the last quarter. 87.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNFP has been the topic of a number of research reports. Robert W. Baird started coverage on shares of Pinnacle Financial Partners in a report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 target price on the stock. UBS Group upped their price objective on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Piper Sandler upped their price objective on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings started coverage on shares of Pinnacle Financial Partners in a research note on Monday, March 9th. They issued a “hold (c+)” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $115.18.

Pinnacle Financial Partners Stock Performance

NYSE:PNFP opened at $97.12 on Monday. The company has a fifty day moving average price of $91.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $120.46. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 0.37 and a beta of 1.06.

Pinnacle Financial Partners (NYSE:PNFP) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. As a group, sell-side analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.34 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

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

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.