Dimensional Fund Advisors LP Purchases 82,180 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Dimensional Fund Advisors LP boosted its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP – Get Rating) by 5.4% during the fourth quarter, Holdings Channel reports. The fund owned 1,592,037 shares of the financial services provider’s stock after acquiring an additional 82,180 shares during the period. Dimensional Fund Advisors LP’s holdings in Pinnacle Financial Partners were worth $116,855,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in Pinnacle Financial Partners by 43.1% during the 4th quarter. Signaturefd LLC now owns 667 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 201 shares during the last quarter. Edge Capital Group LLC bought a new stake in Pinnacle Financial Partners during the 4th quarter worth about $51,000. Quadrant Capital Group LLC grew its holdings in Pinnacle Financial Partners by 589.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 917 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 784 shares during the last quarter. Parallel Advisors LLC grew its holdings in Pinnacle Financial Partners by 1,772.2% during the 4th quarter. Parallel Advisors LLC now owns 1,011 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 957 shares during the last quarter. Finally, RFP Financial Group LLC bought a new stake in Pinnacle Financial Partners during the 4th quarter worth about $90,000. Institutional investors own 79.82% of the company’s stock.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $49.29 on Friday. Pinnacle Financial Partners, Inc. has a 12-month low of $43.31 and a 12-month high of $89.00. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average price is $52.64 and its two-hundred day moving average price is $68.36. The stock has a market cap of $3.78 billion, a PE ratio of 6.76 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP – Get Rating) last announced its earnings results on Tuesday, April 18th. The financial services provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.74 by $0.02. Pinnacle Financial Partners had a return on equity of 10.85% and a net margin of 28.11%. The business had revenue of $401.76 million for the quarter, compared to analysts’ expectations of $418.58 million. During the same period in the prior year, the business posted $1.65 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. As a group, analysts expect that Pinnacle Financial Partners, Inc. will post 6.55 earnings per share for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, May 5th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.79%. The ex-dividend date is Thursday, May 4th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 12.07%.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 24,168 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $73.38, for a total value of $1,773,447.84. Following the transaction, the chairman now directly owns 302,071 shares of the company’s stock, valued at $22,165,969.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Truist Financial decreased their price objective on shares of Pinnacle Financial Partners from $85.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, March 23rd. Keefe, Bruyette & Woods cut their target price on shares of Pinnacle Financial Partners from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. StockNews.com began coverage on shares of Pinnacle Financial Partners in a research report on Thursday. They set a “sell” rating on the stock. Wells Fargo & Company cut their target price on shares of Pinnacle Financial Partners from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Pinnacle Financial Partners from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $77.88.

Pinnacle Financial Partners Profile

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Pinnacle Financial Partners, Inc is a bank holding company, which engages in the provision of financial solutions. It offers banking, investment, trust, mortgage, and insurance products and services designed for businesses and individuals. The company was founded by Dale W. Polley, M. Terry Turner, Sue G.