Squarepoint Ops LLC Decreases Stock Holdings in Pinnacle Financial Partners, Inc. $PNFP

Squarepoint Ops LLC lessened its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 57.7% during the second quarter, HoldingsChannel.com reports. The fund owned 5,478 shares of the financial services provider’s stock after selling 7,459 shares during the quarter. Squarepoint Ops LLC’s holdings in Pinnacle Financial Partners were worth $605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. HighTower Advisors LLC lifted its position in Pinnacle Financial Partners by 8.4% during the first quarter. HighTower Advisors LLC now owns 8,639 shares of the financial services provider’s stock valued at $916,000 after purchasing an additional 666 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Pinnacle Financial Partners during the 1st quarter valued at $57,000. Compound Planning Inc. boosted its stake in shares of Pinnacle Financial Partners by 18.5% in the 1st quarter. Compound Planning Inc. now owns 2,290 shares of the financial services provider’s stock worth $243,000 after buying an additional 358 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Pinnacle Financial Partners in the first quarter worth $51,000. Finally, B. Metzler seel. Sohn & Co. AG grew its holdings in shares of Pinnacle Financial Partners by 20.6% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 33,508 shares of the financial services provider’s stock worth $3,553,000 after acquiring an additional 5,720 shares during the period. 87.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PNFP has been the topic of a number of recent research reports. Raymond James Financial raised Pinnacle Financial Partners from a “market perform” rating to a “strong-buy” rating and set a $120.00 target price on the stock in a report on Thursday, December 11th. JPMorgan Chase & Co. increased their price objective on shares of Pinnacle Financial Partners from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Bank of America started coverage on shares of Pinnacle Financial Partners in a research report on Monday, December 8th. They set a “buy” rating and a $113.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Pinnacle Financial Partners in a research report on Monday. Finally, UBS Group dropped their price target on shares of Pinnacle Financial Partners from $104.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Pinnacle Financial Partners has an average rating of “Moderate Buy” and an average target price of $111.38.

Insider Activity

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total value of $630,075.00. Following the completion of the transaction, the chairman owned 202,505 shares of the company’s stock, valued at $18,832,965. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director G Kennedy Thompson bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were acquired at an average cost of $87.63 per share, for a total transaction of $438,150.00. Following the purchase, the director directly owned 33,372 shares in the company, valued at $2,924,388.36. This trade represents a 17.62% increase in their position. The SEC filing for this purchase provides additional information. 1.46% of the stock is owned by insiders.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ:PNFP opened at $101.25 on Wednesday. The company has a market capitalization of $7.85 billion, a P/E ratio of 12.87, a P/E/G ratio of 0.62 and a beta of 1.06. Pinnacle Financial Partners, Inc. has a 1-year low of $81.57 and a 1-year high of $127.85. The firm’s 50 day simple moving average is $91.24 and its two-hundred day simple moving average is $97.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.27 EPS for the quarter, beating the consensus estimate of $2.05 by $0.22. Pinnacle Financial Partners had a net margin of 19.17% and a return on equity of 9.91%. The firm had revenue of $544.80 million for the quarter, compared to the consensus estimate of $526.40 million. During the same period last year, the firm earned $1.86 EPS. Research analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 7th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, November 7th. Pinnacle Financial Partners’s payout ratio is presently 12.20%.

Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.