New York State Common Retirement Fund Sells 209,484 Shares of Pinnacle Financial Partners, Inc. $PNFP

New York State Common Retirement Fund lowered its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 45.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 251,747 shares of the financial services provider’s stock after selling 209,484 shares during the period. New York State Common Retirement Fund’s holdings in Pinnacle Financial Partners were worth $23,611,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of PNFP. Goldman Sachs Group Inc. grew its position in Pinnacle Financial Partners by 6.2% in the first quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the financial services provider’s stock valued at $69,060,000 after acquiring an additional 37,989 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Pinnacle Financial Partners by 13.9% in the first quarter. Focus Partners Wealth now owns 4,755 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 581 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Pinnacle Financial Partners in the 2nd quarter valued at approximately $253,000. Hilltop National Bank bought a new stake in shares of Pinnacle Financial Partners during the 2nd quarter valued at approximately $140,000. Finally, Ameritas Advisory Services LLC acquired a new position in Pinnacle Financial Partners during the 2nd quarter worth approximately $45,000. 87.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PNFP has been the subject of several research reports. UBS Group reissued a “neutral” rating and issued a $107.00 price objective on shares of Pinnacle Financial Partners in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pinnacle Financial Partners in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft set a $116.00 price objective on Pinnacle Financial Partners and gave the company a “buy” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on Pinnacle Financial Partners from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Finally, Evercore Partners started coverage on Pinnacle Financial Partners in a research report on Tuesday, January 6th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Pinnacle Financial Partners currently has an average rating of “Moderate Buy” and a consensus target price of $113.41.

Pinnacle Financial Partners Price Performance

Pinnacle Financial Partners stock opened at $94.99 on Friday. The firm has a market cap of $7.37 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.48 and a beta of 1.02. The stock’s 50 day moving average is $97.03 and its 200 day moving average is $94.48. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89. Pinnacle Financial Partners, Inc. has a one year low of $81.57 and a one year high of $126.81.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 6th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is 24.72%.

Insiders Place Their Bets

In related news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total value of $630,075.00. Following the transaction, the chairman owned 202,505 shares in the company, valued at $18,832,965. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.46% of the stock is owned by corporate insiders.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.