M Terry Turner Sells 31,171 Shares of Pinnacle Financial Partners, Inc. (PNFP) Stock
Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) CEO M Terry Turner sold 31,171 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $67.11, for a total transaction of $2,091,885.81. Following the completion of the transaction, the chief executive officer now owns 489,701 shares in the company, valued at $32,863,834.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Pinnacle Financial Partners, Inc. (NASDAQ PNFP) traded up $0.90 during mid-day trading on Wednesday, hitting $68.55. 356,372 shares of the company traded hands, compared to its average volume of 411,323. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.99. The company has a market capitalization of $5,320.00, a PE ratio of 21.16, a price-to-earnings-growth ratio of 1.10 and a beta of 1.31. Pinnacle Financial Partners, Inc. has a one year low of $58.40 and a one year high of $71.55.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.01. The business had revenue of $216.20 million during the quarter, compared to analyst estimates of $217.13 million. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. Pinnacle Financial Partners’s revenue for the quarter was up 102.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. equities analysts anticipate that Pinnacle Financial Partners, Inc. will post 3.56 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of PNFP. Advisor Group Inc. boosted its stake in Pinnacle Financial Partners by 14.5% in the second quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock worth $144,000 after buying an additional 291 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Pinnacle Financial Partners by 61.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,464 shares of the financial services provider’s stock worth $155,000 after buying an additional 935 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in Pinnacle Financial Partners by 149.7% in the second quarter. Riverhead Capital Management LLC now owns 3,496 shares of the financial services provider’s stock worth $220,000 after buying an additional 2,096 shares in the last quarter. South State Corp purchased a new stake in Pinnacle Financial Partners in the second quarter worth approximately $223,000. Finally, Green Square Capital LLC purchased a new stake in Pinnacle Financial Partners in the second quarter worth approximately $227,000. 71.75% of the stock is owned by institutional investors and hedge funds.
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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.
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