AGP Franklin LLC Acquires 21,542 Shares of Pinnacle Financial Partners, Inc. $PNFP

AGP Franklin LLC lifted its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 99.9% in the 3rd quarter, Holdings Channel reports. The firm owned 43,106 shares of the financial services provider’s stock after buying an additional 21,542 shares during the quarter. Pinnacle Financial Partners accounts for 2.0% of AGP Franklin LLC’s portfolio, making the stock its 13th biggest holding. AGP Franklin LLC’s holdings in Pinnacle Financial Partners were worth $4,043,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PNFP. Covestor Ltd increased its position in Pinnacle Financial Partners by 193.9% in the 3rd quarter. Covestor Ltd now owns 338 shares of the financial services provider’s stock worth $32,000 after buying an additional 223 shares during the period. Quent Capital LLC acquired a new stake in shares of Pinnacle Financial Partners during the 3rd quarter worth about $34,000. Eastern Bank acquired a new stake in shares of Pinnacle Financial Partners during the third quarter worth approximately $37,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Pinnacle Financial Partners in the second quarter valued at $38,000. Finally, MAI Capital Management lifted its position 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 worth $40,000 after purchasing an additional 162 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PNFP shares. Bank of America initiated coverage on Pinnacle Financial Partners in a report on Monday, December 8th. They issued a “buy” rating and a $113.00 price target on the stock. Piper Sandler upgraded shares of Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $117.00 to $120.00 in a research report on Monday, January 5th. Wells Fargo & Company dropped 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. Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a report on Monday, January 5th. Finally, Barclays raised their target price on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $113.29.

Insider Buying and Selling

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total transaction of $630,075.00. Following the completion of the sale, the chairman owned 202,505 shares of the company’s stock, valued at $18,832,965. This trade represents a 3.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.46% of the company’s stock.

Pinnacle Financial Partners Stock Performance

NASDAQ:PNFP opened at $95.36 on Wednesday. The firm has a market capitalization of $7.40 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 0.48 and a beta of 1.02. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $96.66 and its 200 day simple moving average is $94.80. Pinnacle Financial Partners, Inc. has a twelve month low of $81.57 and a twelve month high of $127.85.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 6th will be given a $0.50 dividend. The ex-dividend date is Friday, February 6th. Pinnacle Financial Partners’s payout ratio is 11.87%.

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.