Fjarde AP Fonden Fourth Swedish National Pension Fund Makes New $3.78 Million Investment in Pinnacle Financial Partners, Inc. $PNFP

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 43,830 shares of the company’s stock, valued at approximately $3,776,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PNFP. Yousif Capital Management LLC lifted its holdings in shares of Pinnacle Financial Partners by 92.4% during the 4th quarter. Yousif Capital Management LLC now owns 46,456 shares of the company’s stock valued at $4,519,000 after purchasing an additional 22,306 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Pinnacle Financial Partners by 122.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,188 shares of the company’s stock worth $1,544,000 after purchasing an additional 8,927 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in Pinnacle Financial Partners during the 3rd quarter worth approximately $1,128,000. Private Management Group Inc. lifted its stake in Pinnacle Financial Partners by 96.4% in the third quarter. Private Management Group Inc. now owns 245,160 shares of the company’s stock valued at $22,994,000 after buying an additional 120,311 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in Pinnacle Financial Partners by 283.3% in the fourth quarter. M&T Bank Corp now owns 27,583 shares of the company’s stock valued at $2,632,000 after buying an additional 20,386 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Analyst Ratings Changes

PNFP has been the subject of several research analyst reports. TD Cowen reduced their price target on shares of Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating for the company in a report on Monday, April 27th. Stephens boosted their price objective on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on shares of Pinnacle Financial Partners from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Finally, Benchmark began coverage on Pinnacle Financial Partners in a research note on Wednesday, June 24th. They issued a “buy” rating and a $132.00 price target on the stock. 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 stock. According to MarketBeat, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and a consensus target price of $116.89.

Pinnacle Financial Partners Stock Up 0.7%

NYSE PNFP opened at $100.19 on Tuesday. The firm has a 50 day simple moving average of $97.15. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $7.77 billion, a P/E ratio of 11.18, a PEG ratio of 0.38 and a beta of 1.04. Pinnacle Financial Partners, Inc. has a 12-month low of $81.08 and a 12-month high of $120.46.

Pinnacle Financial Partners (NYSE:PNFP) last announced its earnings results on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.30 by $0.09. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. As a group, sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 10.23 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

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

Pinnacle Financial Partners 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.