Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Chairman Richard D. Callicutt II sold 30,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $67.44, for a total transaction of $2,023,200.00. Following the completion of the transaction, the chairman now owns 168,241 shares in the company, valued at $11,346,173.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) traded down 0.96% on Monday, hitting $66.80. 508,878 shares of the stock were exchanged. The firm has a market cap of $5.19 billion, a PE ratio of 20.54 and a beta of 1.31. Pinnacle Financial Partners, Inc. has a 52-week low of $49.40 and a 52-week high of $71.85. The company has a 50-day moving average price of $64.73 and a 200-day moving average price of $63.56.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The company had revenue of $216.20 million during the quarter, compared to analyst estimates of $217.13 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Pinnacle Financial Partners’s revenue was up 102.8% on a year-over-year basis. On average, equities research analysts anticipate that Pinnacle Financial Partners, Inc. will post $3.47 EPS for the current fiscal year.

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

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Several hedge funds and other institutional investors have recently modified their holdings of PNFP. Karp Capital Management Corp purchased a new position in shares of Pinnacle Financial Partners during the first quarter worth about $500,000. Sei Investments Co. grew its holdings in shares of Pinnacle Financial Partners by 270.5% during the first quarter. Sei Investments Co. now owns 2,638 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 1,926 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Pinnacle Financial Partners by 1.5% during the first quarter. Alliancebernstein L.P. now owns 64,914 shares of the financial services provider’s stock worth $4,314,000 after purchasing an additional 969 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Pinnacle Financial Partners by 13.8% during the first quarter. TIAA CREF Investment Management LLC now owns 229,759 shares of the financial services provider’s stock worth $15,267,000 after purchasing an additional 27,844 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Pinnacle Financial Partners by 7.7% during the first quarter. Legal & General Group Plc now owns 82,146 shares of the financial services provider’s stock worth $5,457,000 after purchasing an additional 5,890 shares in the last quarter. 69.29% of the stock is owned by institutional investors.

PNFP has been the topic of several research reports. Stephens restated a “hold” rating and issued a $71.00 price target on shares of Pinnacle Financial Partners in a research note on Thursday, July 20th. SunTrust Banks, Inc. restated a “buy” rating and issued a $73.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, October 4th. Piper Jaffray Companies restated an “overweight” rating and issued a $72.00 price target on shares of Pinnacle Financial Partners in a research note on Thursday, October 5th. Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, Hilliard Lyons upgraded 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 note on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Pinnacle Financial Partners currently 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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