Merit Financial Group LLC Raises Stock Holdings in Pinnacle Financial Partners, Inc. $PNFP

Merit Financial Group LLC boosted its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 528.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,415 shares of the financial services provider’s stock after buying an additional 9,600 shares during the quarter. Merit Financial Group LLC’s holdings in Pinnacle Financial Partners were worth $1,071,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PNFP. Norges Bank bought a new position in shares of Pinnacle Financial Partners during the second quarter valued at about $113,461,000. Balyasny Asset Management L.P. grew its stake in shares of Pinnacle Financial Partners by 1,036.4% in the second quarter. Balyasny Asset Management L.P. now owns 297,181 shares of the financial services provider’s stock worth $32,812,000 after purchasing an additional 271,029 shares during the last quarter. Impax Asset Management Group plc increased its holdings in Pinnacle Financial Partners by 248.2% during the 3rd quarter. Impax Asset Management Group plc now owns 348,237 shares of the financial services provider’s stock valued at $32,661,000 after purchasing an additional 248,237 shares during the period. Westwood Holdings Group Inc. bought a new position in Pinnacle Financial Partners during the 2nd quarter valued at approximately $20,932,000. Finally, Sei Investments Co. raised its position in Pinnacle Financial Partners by 82.7% during the 2nd quarter. Sei Investments Co. now owns 376,762 shares of the financial services provider’s stock valued at $41,598,000 after purchasing an additional 170,536 shares during the last quarter. Institutional investors own 87.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Pinnacle Financial Partners from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Bank of America initiated coverage on shares of Pinnacle Financial Partners in a research report on Monday, December 8th. They set a “buy” rating and a $113.00 price objective on the stock. UBS Group set a $106.00 target price on shares of Pinnacle Financial Partners in a research report on Wednesday, February 4th. DA Davidson initiated coverage on shares of Pinnacle Financial Partners in a research note on Monday, January 5th. They set a “neutral” rating and a $110.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle Financial Partners has an average rating of “Moderate Buy” and an average price target of $113.41.

Insiders Place Their Bets

In related news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of Pinnacle Financial Partners 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 sale, the chairman directly owned 202,505 shares in the company, valued at approximately $18,832,965. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew J. Jr. Gregory bought 1,000 shares of the stock in a transaction on Thursday, February 12th. The shares were bought at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the purchase, the chief financial officer directly owned 49,485 shares in the company, valued at approximately $4,677,322.20. This trade represents a 2.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.46% of the stock is currently owned by company insiders.

Pinnacle Financial Partners Stock Up 0.4%

Shares of Pinnacle Financial Partners stock opened at $96.49 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $7.48 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03. Pinnacle Financial Partners, Inc. has a 52-week low of $81.57 and a 52-week high of $122.01. The company has a 50-day simple moving average of $98.26 and a two-hundred day simple moving average of $94.12.

Pinnacle Financial Partners Announces Dividend

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

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.