BW Gestao de Investimentos Ltda. Takes $10.50 Million Position in Pinnacle Financial Partners, Inc. $PNFP

BW Gestao de Investimentos Ltda. purchased a new stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 110,000 shares of the company’s stock, valued at approximately $10,495,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brown Brothers Harriman & Co. acquired a new position in shares of Pinnacle Financial Partners during the 3rd quarter worth approximately $26,000. High Point Wealth Management LLC acquired a new position in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $27,000. BOKF NA raised its position 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 purchasing an additional 265 shares during the last quarter. Activest Wealth Management acquired a new position in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $28,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $33,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Trading Down 2.3%

Shares of PNFP opened at $95.49 on Tuesday. 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 stock has a market cap of $7.41 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 0.37 and a beta of 1.04. The business has a fifty day moving average price of $93.56. Pinnacle Financial Partners, Inc. has a twelve month low of $81.08 and a twelve month high of $120.46.

Pinnacle Financial Partners (NYSE:PNFP) last issued its earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.09. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. Sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 10.34 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 1st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, May 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 27.74%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PNFP. Robert W. Baird began coverage on Pinnacle Financial Partners in a research report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price objective for the company. Barclays cut their price objective on Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings began coverage on Pinnacle Financial Partners in a research report on Monday, March 9th. They set a “hold (c+)” rating for the company. Wall Street Zen upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Pinnacle Financial Partners from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $115.18.

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.