13,063 Shares in Pinnacle Financial Partners, Inc. $PNFP Acquired by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,063 shares of the company’s stock, valued at approximately $1,125,000.

Several other hedge funds have also added to or reduced their stakes in PNFP. Brown Brothers Harriman & Co. bought a new position in shares of Pinnacle Financial Partners in the third quarter valued at about $26,000. BOKF NA lifted its stake in shares of Pinnacle Financial Partners by 1,204.5% during the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after buying an additional 265 shares during the last quarter. High Point Wealth Management LLC bought a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth about $27,000. Activest Wealth Management bought a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth about $28,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Pinnacle Financial Partners by 175.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 339 shares of the company’s stock worth $32,000 after buying an additional 216 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Performance

NYSE:PNFP opened at $99.40 on Friday. Pinnacle Financial Partners, Inc. has a 52 week low of $81.08 and a 52 week high of $120.46. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42. The business’s 50-day simple moving average is $97.13. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 0.38 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.20 billion. Sell-side analysts anticipate that Pinnacle Financial Partners, Inc. will post 10.23 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

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

Analyst Upgrades and Downgrades

PNFP has been the topic of several research analyst reports. Evercore reissued an “outperform” rating and issued a $115.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, April 29th. Truist Financial boosted their price objective on Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Weiss Ratings raised Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Piper Sandler reiterated an “overweight” rating on shares of Pinnacle Financial Partners in a research note on Wednesday, June 10th. Finally, Stephens lifted their price target on Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.61.

Pinnacle Financial Partners Company Profile

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.