SG Americas Securities LLC Has $38.63 Million Stock Position in Pinnacle Financial Partners, Inc. $PNFP

SG Americas Securities LLC increased its stake in shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) by 245.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 448,493 shares of the company’s stock after acquiring an additional 318,714 shares during the quarter. SG Americas Securities LLC owned about 0.58% of Pinnacle Financial Partners worth $38,633,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new stake in Pinnacle Financial Partners in the 3rd quarter worth $26,000. High Point Wealth Management LLC bought a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at about $27,000. BOKF NA lifted its stake in shares of Pinnacle Financial Partners by 1,204.5% in the third quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after buying an additional 265 shares during the period. Activest Wealth Management acquired a new stake in Pinnacle Financial Partners during the fourth quarter worth about $28,000. Finally, CIBC Private Wealth Group LLC increased its stake in Pinnacle Financial Partners by 175.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 339 shares of the company’s stock valued at $32,000 after acquiring an additional 216 shares during the period. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Stock Down 0.3%

Shares of PNFP stock opened at $96.18 on Wednesday. The company has a market cap of $7.46 billion, a P/E ratio of 13.34, a P/E/G ratio of 0.37 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. 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 company’s 50-day moving average price is $96.41.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings data 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. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. As a group, research analysts expect that Pinnacle Financial Partners, Inc. will post 10.25 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 1st were given a dividend of $0.50 per share. The ex-dividend date was Friday, May 1st. This represents a $2.00 dividend on an annualized basis and a yield of 2.1%. Pinnacle Financial Partners’s dividend payout ratio is 27.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Robert W. Baird assumed coverage on Pinnacle Financial Partners in a report on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 price target for the company. Piper Sandler restated an “overweight” rating on shares of Pinnacle Financial Partners in a research report on Wednesday, June 10th. Truist Financial upped their target price on Pinnacle Financial Partners from $114.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Barclays reduced their target price 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Pinnacle Financial Partners from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Two equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.88.

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.