Pinnacle Financial Partners, Inc. $PNFP Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC lifted its holdings in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 148.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,740 shares of the company’s stock after buying an additional 10,007 shares during the quarter. Corient Private Wealth LLC’s holdings in Pinnacle Financial Partners were worth $1,603,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PNFP. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Pinnacle Financial Partners by 1.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company’s stock valued at $704,000 after purchasing an additional 116 shares during the period. Villanova Investment Management Co LLC grew its position in Pinnacle Financial Partners by 0.4% in the 4th quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock valued at $2,720,000 after buying an additional 118 shares during the last quarter. Diversified Trust Co. increased its stake in Pinnacle Financial Partners by 0.3% in the 4th quarter. Diversified Trust Co. now owns 54,349 shares of the company’s stock valued at $5,185,000 after buying an additional 137 shares during the period. Whittier Trust Co. increased its stake in Pinnacle Financial Partners by 10.1% in the 4th quarter. Whittier Trust Co. now owns 1,521 shares of the company’s stock valued at $145,000 after buying an additional 140 shares during the period. Finally, Graham Capital Management L.P. raised its position in Pinnacle Financial Partners by 0.7% during the 4th quarter. Graham Capital Management L.P. now owns 22,169 shares of the company’s stock worth $2,115,000 after buying an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PNFP. UBS Group raised their target price on shares of Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Robert W. Baird began coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price target on the stock. Barclays cut their price target on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Benchmark started coverage on Pinnacle Financial Partners in a report on Wednesday, June 24th. They issued a “buy” rating and a $132.00 price objective on the stock. Finally, Citigroup boosted their target price on Pinnacle Financial Partners from $122.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.06.

Pinnacle Financial Partners Stock Up 0.1%

Shares of PNFP opened at $100.90 on Wednesday. The company has a 50-day moving average of $96.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $7.83 billion, a P/E ratio of 13.99, a PEG ratio of 0.38 and a beta of 1.04. Pinnacle Financial Partners, Inc. has a 52-week low of $81.08 and a 52-week high of $120.46.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.09. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. On average, research analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.24 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, May 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 27.74%.

About Pinnacle Financial Partners

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.