Pinnacle Financial Partners Chairman Sells $1,766,175 in Stock (PNFP)
Pinnacle Financial Partners (NASDAQ:PNFP) Chairman Robert A. Mccabe, Jr. sold 49,115 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $35.96, for a total transaction of $1,766,175.40. Following the completion of the transaction, the chairman now directly owns 146,511 shares of the company’s stock, valued at approximately $5,268,536. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Pinnacle Financial Partners (NASDAQ:PNFP) traded down 0.19% on Wednesday, hitting $36.07. The stock had a trading volume of 82,019 shares. Pinnacle Financial Partners has a one year low of $27.40 and a one year high of $40.10. The stock has a 50-day moving average of $36.52 and a 200-day moving average of $36.21. The company has a market cap of $1.256 billion and a P/E ratio of 19.86.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. During the same quarter in the prior year, the company posted $0.42 earnings per share. On average, analysts predict that Pinnacle Financial Partners will post $2.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Wednesday, August 6th.
PNFP has been the subject of a number of recent research reports. Analysts at Sandler O’Neill upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Separately, analysts at Wunderlich reiterated a “hold” rating on shares of Pinnacle Financial Partners in a research note on Thursday, July 17th. They now have a $40.00 price target on the stock, up previously from $37.00. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $37.75.
Pinnacle Financial Partners, Inc (NASDAQ:PNFP) is a bank holding company.
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