Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) CFO Harold R. Carpenter sold 17,711 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $67.45, for a total transaction of $1,194,606.95. Following the completion of the transaction, the chief financial officer now owns 107,090 shares of the company’s stock, valued at approximately $7,223,220.50. 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. (NASDAQ PNFP) traded down 0.96% during mid-day trading on Monday, hitting $66.80. 508,878 shares of the stock were exchanged. Pinnacle Financial Partners, Inc. has a 12-month low of $49.40 and a 12-month high of $71.85. The stock’s 50 day moving average price is $64.73 and its 200-day moving average price is $63.56. The stock has a market capitalization of $5.19 billion, a P/E ratio of 20.54 and a beta of 1.31.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. Pinnacle Financial Partners had a net margin of 27.41% and a return on equity of 7.36%. The business had revenue of $216.20 million during the quarter, compared to the consensus estimate of $217.13 million. During the same quarter last year, the firm posted $0.78 EPS. Pinnacle Financial Partners’s revenue was up 102.8% compared to the same quarter last year. On average, equities research analysts expect that Pinnacle Financial Partners, Inc. will post $3.47 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.84%. The ex-dividend date is Thursday, November 2nd. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 17.34%.

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A number of large investors have recently modified their holdings of PNFP. Karp Capital Management Corp bought a new position in Pinnacle Financial Partners during the 1st quarter valued at $500,000. Sei Investments Co. lifted its stake in Pinnacle Financial Partners by 270.5% during the 1st quarter. Sei Investments Co. now owns 2,638 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 1,926 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Pinnacle Financial Partners by 1.5% during the 1st quarter. Alliancebernstein L.P. now owns 64,914 shares of the financial services provider’s stock valued at $4,314,000 after acquiring an additional 969 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in Pinnacle Financial Partners by 13.8% during the 1st quarter. TIAA CREF Investment Management LLC now owns 229,759 shares of the financial services provider’s stock valued at $15,267,000 after acquiring an additional 27,844 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Pinnacle Financial Partners by 7.7% during the 1st quarter. Legal & General Group Plc now owns 82,146 shares of the financial services provider’s stock valued at $5,457,000 after acquiring an additional 5,890 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

PNFP has been the subject of several research analyst reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $74.00 price target on shares of Pinnacle Financial Partners in a report on Thursday. SunTrust Banks, Inc. reissued a “buy” rating and issued a $74.00 price objective on shares of Pinnacle Financial Partners in a research report on Friday. Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Wednesday, August 23rd. Stephens reissued a “hold” rating and issued a $71.00 price objective on shares of Pinnacle Financial Partners in a research report on Thursday, July 20th. Finally, Zacks Investment Research raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Pinnacle Financial Partners has an average rating of “Hold” and an average price target of $73.25.

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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