Pinnacle Financial Partners Director Buys $38,937 in Stock (PNFP)
Pinnacle Financial Partners (NASDAQ:PNFP) Director Glenda Baskin Glover acquired 1,084 shares of the stock in a transaction dated Monday, August 25th. The stock was purchased at an average price of $35.92 per share, for a total transaction of $38,937.28. Following the acquisition, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $89,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Pinnacle Financial Partners (NASDAQ:PNFP) traded down 0.19% during mid-day trading on Wednesday, hitting $36.07. 82,019 shares of the company’s stock traded hands. 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 posted its quarterly earnings results 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 previous year, the company posted $0.42 earnings per share. Analysts expect that Pinnacle Financial Partners will post $2.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders 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.
A number of analysts have recently weighed in on PNFP shares. 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $37.75.
Pinnacle Financial Partners, Inc (NASDAQ:PNFP) is a bank holding company.
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