Federated Hermes Inc. Has $509,000 Position in Pinnacle Financial Partners, Inc. $PNFP

Federated Hermes Inc. lessened its holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 90.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,423 shares of the financial services provider’s stock after selling 50,553 shares during the period. Federated Hermes Inc.’s holdings in Pinnacle Financial Partners were worth $509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd increased its stake in Pinnacle Financial Partners by 193.9% in the third quarter. Covestor Ltd now owns 338 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 223 shares during the period. Quent Capital LLC acquired a new stake in Pinnacle Financial Partners during the third quarter valued at approximately $34,000. Eastern Bank bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at approximately $37,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Pinnacle Financial Partners in the 2nd quarter worth approximately $38,000. Finally, MAI Capital Management raised its holdings in shares of Pinnacle Financial Partners by 79.4% in the 2nd quarter. MAI Capital Management now owns 366 shares of the financial services provider’s stock worth $40,000 after buying an additional 162 shares in the last quarter. 87.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the company’s stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 1.46% of the stock is currently owned by insiders.

Pinnacle Financial Partners Price Performance

PNFP opened at $102.38 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $7.94 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03. The company’s 50 day simple moving average is $97.90 and its 200-day simple moving average is $93.93. Pinnacle Financial Partners, Inc. has a one year low of $81.57 and a one year high of $126.06.

Pinnacle Financial Partners Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 6th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 24.72%.

Analyst Upgrades and Downgrades

PNFP has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on Pinnacle Financial Partners from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Friday, January 9th. Wells Fargo & Company lowered 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. JPMorgan Chase & Co. lifted their price target on shares of Pinnacle Financial Partners from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Citigroup boosted their price target on shares of Pinnacle Financial Partners from $118.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Stephens dropped 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 report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and a consensus price target of $113.41.

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.