United Capital Financial Advisors LLC Takes $755,000 Position in Pinnacle Financial Partners, Inc. $PNFP

United Capital Financial Advisors LLC bought a new position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,480 shares of the company’s stock, valued at approximately $755,000.

Several other hedge funds also recently made changes to their positions in PNFP. BlackRock Inc. bought a new stake in Pinnacle Financial Partners during the 2nd quarter valued at $1,704,708,000. AQR Capital Management LLC increased its position in shares of Pinnacle Financial Partners by 1,697.4% in the third quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company’s stock valued at $306,474,000 after acquiring an additional 3,085,867 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Pinnacle Financial Partners by 80.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,035,295 shares of the company’s stock valued at $433,712,000 after acquiring an additional 2,244,659 shares during the period. Nomura Holdings Inc. bought a new position in shares of Pinnacle Financial Partners during the third quarter valued at about $187,822,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at about $159,545,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider M Terry Turner sold 66,783 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $108.01, for a total value of $7,213,231.83. Following the completion of the transaction, the insider owned 302,230 shares of the company’s stock, valued at approximately $32,643,862.30. This represents a 18.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert A. Mccabe, Jr. bought 10,013 shares of the stock in a transaction dated Friday, July 24th. The stock was purchased at an average price of $99.90 per share, with a total value of $1,000,298.70. Following the purchase, the insider owned 324,233 shares in the company, valued at $32,390,876.70. This trade represents a 3.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 177,228 shares of company stock worth $19,153,713 in the last quarter. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

PNFP has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 12th. Robert W. Baird began coverage on Pinnacle Financial Partners in a research report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price target for the company. Citigroup upped their price target on Pinnacle Financial Partners from $122.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Evercore reiterated an “outperform” rating and issued a $120.00 price objective on shares of Pinnacle Financial Partners in a report on Monday, July 6th. Finally, Truist Financial lifted their price objective on Pinnacle Financial Partners from $115.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and a consensus target price of $118.35.

Pinnacle Financial Partners Trading Down 0.0%

Shares of PNFP opened at $101.08 on Monday. The company’s 50-day moving average is $102.11. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.40 and a beta of 1.03. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.93. Pinnacle Financial Partners, Inc. has a 1-year low of $81.08 and a 1-year high of $110.33.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.04. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. On average, research analysts forecast that Pinnacle Financial Partners, Inc. will post 10.19 EPS for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 7th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. Pinnacle Financial Partners’s dividend payout ratio is 27.47%.

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.