Brighton Jones LLC Purchases Shares of 11,321 Pinnacle Financial Partners, Inc. $PNFP

Brighton Jones LLC acquired a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,321 shares of the financial services provider’s stock, valued at approximately $1,062,000.

Other large investors have also recently modified their holdings of the company. 1248 Management LLC purchased a new stake in Pinnacle Financial Partners during the 1st quarter valued at about $29,000. Elevation Point Wealth Partners LLC bought a new stake in Pinnacle Financial Partners in the second quarter valued at approximately $38,000. MAI Capital Management boosted its stake in shares of Pinnacle Financial Partners by 79.4% during the second quarter. MAI Capital Management now owns 366 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 162 shares during the period. Spurstone Advisory Services LLC purchased a new stake in shares of Pinnacle Financial Partners during the second quarter valued at approximately $41,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Pinnacle Financial Partners in the second quarter worth approximately $45,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PNFP shares. Bank of America assumed coverage on shares of Pinnacle Financial Partners in a report on Monday, December 8th. They set a “buy” rating and a $113.00 price target for the company. Cowen began coverage on shares of Pinnacle Financial Partners in a research report on Wednesday, September 24th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Pinnacle Financial Partners in a report on Monday. Barclays raised their target price on Pinnacle Financial Partners from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Finally, TD Cowen started coverage on Pinnacle Financial Partners in a research report on Thursday, September 25th. They set a “buy” rating and a $122.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $111.38.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $101.30 on Thursday. Pinnacle Financial Partners, Inc. has a fifty-two week low of $81.57 and a fifty-two week high of $127.85. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.62 and a beta of 1.06. The stock’s 50 day simple moving average is $91.47 and its two-hundred day simple moving average is $97.08. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.22. The company had revenue of $544.80 million for the quarter, compared to analyst estimates of $526.40 million. Pinnacle Financial Partners had a return on equity of 9.91% and a net margin of 19.17%.During the same period in the previous year, the company posted $1.86 earnings per share. As a group, analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

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

Insider Transactions at Pinnacle Financial Partners

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

About Pinnacle Financial Partners

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.