Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) CEO M Terry Turner sold 101,480 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $64.82, for a total transaction of $6,577,933.60. Following the sale, the chief executive officer now directly owns 538,441 shares of the company’s stock, valued at approximately $34,901,745.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Pinnacle Financial Partners, Inc. (PNFP) traded up 1.729% on Tuesday, reaching $66.175. The company’s stock had a trading volume of 698,046 shares. Pinnacle Financial Partners, Inc. has a 12 month low of $49.40 and a 12 month high of $71.85. The firm’s 50-day moving average price is $64.15 and its 200-day moving average price is $65.15. The stock has a market cap of $3.51 billion, a P/E ratio of 21.258 and a beta of 1.27.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04. Pinnacle Financial Partners had a net margin of 27.36% and a return on equity of 7.67%. The business had revenue of $141.70 million for the quarter, compared to analyst estimates of $130.23 million. During the same quarter last year, the firm earned $0.75 EPS. Pinnacle Financial Partners’s quarterly revenue was up 31.4% compared to the same quarter last year. On average, analysts forecast that Pinnacle Financial Partners, Inc. will post $3.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 4th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.85%. The ex-dividend date is Wednesday, August 2nd. Pinnacle Financial Partners’s payout ratio is 18.01%.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Pinnacle Financial Partners by 56,554.1% in the first quarter. BlackRock Inc. now owns 5,632,547 shares of the financial services provider’s stock valued at $374,283,000 after buying an additional 5,622,605 shares during the last quarter. Vanguard Group Inc. raised its position in Pinnacle Financial Partners by 11.0% in the first quarter. Vanguard Group Inc. now owns 4,094,690 shares of the financial services provider’s stock valued at $272,092,000 after buying an additional 407,046 shares during the last quarter. State Street Corp raised its position in Pinnacle Financial Partners by 27.0% in the first quarter. State Street Corp now owns 1,913,478 shares of the financial services provider’s stock valued at $127,146,000 after buying an additional 406,536 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Pinnacle Financial Partners by 9.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,364,120 shares of the financial services provider’s stock valued at $90,646,000 after buying an additional 120,326 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Pinnacle Financial Partners by 13.3% in the first quarter. Victory Capital Management Inc. now owns 1,103,499 shares of the financial services provider’s stock valued at $73,328,000 after buying an additional 129,328 shares during the last quarter. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on PNFP. BidaskClub raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Stephens reaffirmed a “hold” rating and set a $71.00 price objective on shares of Pinnacle Financial Partners in a research report on Thursday, July 20th. Hilliard Lyons reaffirmed a “neutral” rating and set a $69.00 price objective (down previously from $71.00) on shares of Pinnacle Financial Partners in a research report on Saturday, April 22nd. Finally, Zacks Investment Research cut shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $65.20.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

Insider Buying and Selling by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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