Thompson Siegel & Walmsley LLC Invests $4.34 Million in Pinnacle Financial Partners, Inc. $PNFP

Thompson Siegel & Walmsley LLC bought a new position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 45,529 shares of the company’s stock, valued at approximately $4,344,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new stake in shares of Pinnacle Financial Partners during the third quarter worth $26,000. High Point Wealth Management LLC bought a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth $27,000. BOKF NA raised its position 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 acquiring an additional 265 shares during the last quarter. Activest Wealth Management bought a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth $28,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth $33,000. Institutional investors own 87.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Robert W. Baird assumed coverage on Pinnacle Financial Partners in a research report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 target price for the company. UBS Group lifted their price objective on Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Stephens lifted their price objective on Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on Pinnacle Financial Partners from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Finally, Evercore reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, April 29th. Two equities research 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. According to data from MarketBeat, Pinnacle Financial Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.18.

Pinnacle Financial Partners Trading Down 2.3%

NYSE:PNFP opened at $95.49 on Tuesday. Pinnacle Financial Partners, Inc. has a 1 year low of $81.08 and a 1 year high of $120.46. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $7.41 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 0.37 and a beta of 1.04. The firm has a 50-day simple moving average of $93.56.

Pinnacle Financial Partners (NYSE:PNFP) last posted its earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.09. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. Sell-side analysts forecast that Pinnacle Financial Partners, Inc. will post 10.34 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 1st were given 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 of this dividend was Friday, May 1st. Pinnacle Financial Partners’s dividend payout ratio is currently 27.74%.

Pinnacle Financial Partners Company 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.