13,068 Shares in Pinnacle Financial Partners, Inc. $PNFP Acquired by Greatmark Investment Partners Inc.

Greatmark Investment Partners Inc. acquired a new stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,068 shares of the company’s stock, valued at approximately $1,126,000.

Several other large investors have also recently bought and sold shares of PNFP. Collaborative Fund Advisors LLC bought a new position in shares of Pinnacle Financial Partners during the first quarter worth $1,144,000. Praxis Investment Management Inc. bought a new stake in shares of Pinnacle Financial Partners in the 1st quarter valued at $361,000. HB Wealth Management LLC increased its position in shares of Pinnacle Financial Partners by 96.1% in the 1st quarter. HB Wealth Management LLC now owns 17,475 shares of the company’s stock valued at $1,505,000 after buying an additional 8,565 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in Pinnacle Financial Partners during the 1st quarter worth $1,125,000. Finally, BIP Wealth LLC acquired a new stake in Pinnacle Financial Partners during the 1st quarter worth $974,000. Institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Trading Up 0.7%

PNFP stock opened at $100.19 on Tuesday. The business’s 50-day moving average price is $97.15. The company has a market cap of $7.77 billion, a PE ratio of 13.90, a PEG ratio of 0.38 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. Pinnacle Financial Partners, Inc. has a 1 year low of $81.08 and a 1 year high of $120.46.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.09. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. On average, analysts forecast that Pinnacle Financial Partners, Inc. will post 10.23 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PNFP. Stephens boosted their target price on Pinnacle Financial Partners from $95.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. UBS Group raised their price target on Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. lifted their price objective on Pinnacle Financial Partners from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Benchmark initiated coverage on Pinnacle Financial Partners in a research report on Wednesday, June 24th. They issued a “buy” rating and a $132.00 price objective for the company. Finally, Truist Financial increased their target price on Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Three investment 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. According to MarketBeat, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and an average price target of $116.89.

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.