Caerus Investment Advisors LLC Makes New $583,000 Investment in Pinnacle Financial Partners, Inc. $PNFP

Caerus Investment Advisors LLC purchased a new position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,769 shares of the company’s stock, valued at approximately $583,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in PNFP. Resources Management Corp CT ADV purchased a new position in Pinnacle Financial Partners in the first quarter worth $26,000. Brown Brothers Harriman & Co. purchased a new stake in Pinnacle Financial Partners during the third quarter valued at about $26,000. High Point Wealth Management LLC purchased a new stake in Pinnacle Financial Partners during the fourth quarter valued at about $27,000. BOKF NA lifted its stake in 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 last quarter. Finally, Activest Wealth Management bought a new stake in Pinnacle Financial Partners during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Performance

PNFP opened at $105.35 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $8.17 billion, a PE ratio of 14.47, a PEG ratio of 0.42 and a beta of 1.04. The company’s 50 day simple moving average is $98.77. Pinnacle Financial Partners, Inc. has a 52-week low of $81.08 and a 52-week high of $107.00.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%. Research analysts forecast that Pinnacle Financial Partners, Inc. will post 10.2 EPS for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be issued a $0.50 dividend. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 1.9%. Pinnacle Financial Partners’s dividend payout ratio is 27.47%.

Insider Activity at Pinnacle Financial Partners

In related news, insider Robert A. Mccabe, Jr. bought 10,013 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was purchased at an average cost of $99.90 per share, with a total value of $1,000,298.70. Following the transaction, the insider owned 324,233 shares in the company, valued at approximately $32,390,876.70. This trade represents a 3.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Truist Financial increased their price objective on Pinnacle Financial Partners from $115.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Benchmark dropped their target price on Pinnacle Financial Partners from $132.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, July 24th. DA Davidson boosted their target price on Pinnacle Financial Partners from $109.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings raised Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Finally, Citigroup increased their price target on shares of Pinnacle Financial Partners from $122.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Pinnacle Financial Partners has an average rating of “Moderate Buy” and an average target price of $117.00.

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.