Cwm LLC Buys 86,376 Shares of Pinnacle Financial Partners, Inc. $PNFP

Cwm LLC grew its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 1,244.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 93,318 shares of the financial services provider’s stock after buying an additional 86,376 shares during the period. Cwm LLC’s holdings in Pinnacle Financial Partners were worth $8,752,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. 1248 Management LLC bought a new position in Pinnacle Financial Partners in the first quarter valued at $29,000. Elevation Point Wealth Partners LLC bought a new stake in Pinnacle Financial Partners during the second quarter worth about $38,000. MAI Capital Management lifted its stake in Pinnacle Financial Partners by 79.4% during the second quarter. MAI Capital Management now owns 366 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 162 shares during the last quarter. Spurstone Advisory Services LLC purchased a new position in shares of Pinnacle Financial Partners in the 2nd quarter worth about $41,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Pinnacle Financial Partners during the 2nd quarter valued at about $45,000. 87.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on PNFP shares. Truist Financial dropped their target price on Pinnacle Financial Partners from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Raymond James Financial raised shares of Pinnacle Financial Partners from a “market perform” rating to a “strong-buy” rating and set a $120.00 price target on the stock in a research note on Thursday, December 11th. Stephens cut their price objective on shares of Pinnacle Financial Partners from $104.00 to $97.00 and set an “equal weight” rating for the company in a research note on Friday, October 17th. Wells Fargo & Company reduced their target price on shares of Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, October 17th. Finally, UBS Group lowered their price target on shares of Pinnacle Financial Partners from $104.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. One 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.38.

Pinnacle Financial Partners Stock Down 1.4%

Shares of Pinnacle Financial Partners stock opened at $99.37 on Tuesday. 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, Inc. has a 52-week low of $81.57 and a 52-week high of $127.85. The company’s 50 day moving average price is $92.30 and its 200-day moving average price is $96.87. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 0.62 and a beta of 1.06.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced 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 business had revenue of $544.80 million during the quarter, compared to analysts’ expectations of $526.40 million. Pinnacle Financial Partners had a net margin of 19.17% and a return on equity of 9.91%. During the same quarter in the prior year, the company posted $1.86 EPS. Equities research analysts forecast that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 7th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 12.20%.

Insider Buying and Selling

In related news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total transaction of $630,075.00. Following the completion of the transaction, the chairman owned 202,505 shares in the company, valued at $18,832,965. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G Kennedy Thompson purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was 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 $2,924,388.36. This trade represents a 17.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Company 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.