Janney Montgomery Scott LLC Has $3.70 Million Holdings in Pinnacle Financial Partners, Inc. $PNFP

Janney Montgomery Scott LLC grew its position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 284.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,948 shares of the company’s stock after purchasing an additional 31,782 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Pinnacle Financial Partners worth $3,700,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PNFP. Brown Brothers Harriman & Co. acquired a new position in Pinnacle Financial Partners in the 3rd quarter valued at $26,000. High Point Wealth Management LLC bought a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at about $27,000. BOKF NA boosted its position in shares of Pinnacle Financial Partners by 1,204.5% in the third quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after acquiring an additional 265 shares during the period. Activest Wealth Management acquired a new position in shares of Pinnacle Financial Partners in the fourth quarter valued at about $28,000. Finally, CIBC Private Wealth Group LLC increased its position in Pinnacle Financial Partners by 175.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 339 shares of the company’s stock worth $32,000 after acquiring an additional 216 shares during the period. Institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Trading Down 0.1%

Pinnacle Financial Partners stock traded down $0.05 during trading hours on Tuesday, reaching $100.23. 31,975 shares of the stock were exchanged, compared to its average volume of 1,496,799. 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 twelve month low of $81.08 and a twelve month high of $120.46. The company has a market cap of $7.77 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.38 and a beta of 1.04. The stock has a 50 day moving average price of $97.15.

Pinnacle Financial Partners (NYSE:PNFP) last issued its earnings results on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, beating 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 company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. On average, analysts expect that Pinnacle Financial Partners, Inc. will post 10.23 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 1st were paid a $0.50 dividend. The ex-dividend date was Friday, May 1st. This represents a $2.00 annualized dividend and a dividend yield of 2.0%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 27.74%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PNFP shares. Robert W. Baird started coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of Pinnacle Financial Partners from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. UBS Group lifted their price target on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Barclays cut their price target on Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Finally, TD Cowen reduced their price target on Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $116.89.

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.