Andra AP fonden Makes New Investment in Pinnacle Financial Partners, Inc. $PNFP

Andra AP fonden acquired a new stake in Pinnacle Financial Partners, Inc. (NYSE:PNFPFree Report) in the first quarter, HoldingsChannel.com reports. The firm acquired 85,700 shares of the company’s stock, valued at approximately $7,382,000.

Other large investors have also modified their holdings of the company. Goldman Sachs Group Inc. grew its position in shares of Pinnacle Financial Partners by 6.2% during the first quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock worth $69,060,000 after acquiring an additional 37,989 shares during the last quarter. Focus Partners Wealth raised its position in Pinnacle Financial Partners by 13.9% in the 1st quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock valued at $504,000 after purchasing an additional 581 shares during the last quarter. Amundi raised its position in Pinnacle Financial Partners by 25,700.0% in the 2nd quarter. Amundi now owns 4,386 shares of the company’s stock valued at $513,000 after purchasing an additional 4,369 shares during the last quarter. Jump Financial LLC acquired a new stake in Pinnacle Financial Partners during the 2nd quarter worth $229,000. Finally, Cerity Partners LLC boosted its stake in Pinnacle Financial Partners by 4.2% during the 2nd quarter. Cerity Partners LLC now owns 26,061 shares of the company’s stock worth $2,877,000 after purchasing an additional 1,039 shares during the period. 87.40% of the stock is owned by institutional investors and hedge funds.

Pinnacle Financial Partners Trading Up 0.7%

Shares of PNFP opened at $97.47 on Thursday. Pinnacle Financial Partners, Inc. has a twelve month low of $81.08 and a twelve month high of $113.33. 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 $7.56 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 0.39 and a beta of 1.04. The business’s 50-day moving average is $97.65.

Pinnacle Financial Partners (NYSE:PNFPGet Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%.The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Analysts predict that Pinnacle Financial Partners, Inc. will post 10.18 EPS for the current year.

Pinnacle Financial Partners News Summary

Here are the key news stories impacting Pinnacle Financial Partners this week:

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PNFP. Weiss Ratings upgraded Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Stephens lifted 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. Citigroup boosted their target price on Pinnacle Financial Partners from $122.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, June 25th. UBS Group upped their price target on Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Finally, Truist Financial increased their price target on Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.89.

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About Pinnacle Financial Partners

(Free Report)

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.

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Institutional Ownership by Quarter for Pinnacle Financial Partners (NYSE:PNFP)

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