Waldron Private Wealth LLC Invests $238,000 in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Waldron Private Wealth LLC purchased a new position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,738 shares of the financial services provider’s stock, valued at approximately $238,000.

Other large investors also recently added to or reduced their stakes in the company. Caprock Group LLC boosted its stake in shares of Pinnacle Financial Partners by 2.2% during the 4th quarter. Caprock Group LLC now owns 5,604 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 122 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Pinnacle Financial Partners by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 20,040 shares of the financial services provider’s stock valued at $1,449,000 after buying an additional 145 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Pinnacle Financial Partners by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 33,040 shares of the financial services provider’s stock worth $2,215,000 after buying an additional 170 shares during the period. Advisors Asset Management Inc. boosted its holdings in Pinnacle Financial Partners by 1.9% during the 4th quarter. Advisors Asset Management Inc. now owns 9,228 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 174 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its position in Pinnacle Financial Partners by 57.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. 87.40% of the stock is owned by institutional investors.

Insider Activity

In other Pinnacle Financial Partners news, CEO M Terry Turner sold 24,057 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $1,977,966.54. Following the sale, the chief executive officer now directly owns 294,790 shares of the company’s stock, valued at approximately $24,237,633.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pinnacle Financial Partners news, CEO M Terry Turner sold 24,057 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total value of $1,977,966.54. Following the completion of the transaction, the chief executive officer now directly owns 294,790 shares of the company’s stock, valued at $24,237,633.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $87.43, for a total value of $553,519.33. Following the completion of the sale, the chairman now owns 202,699 shares in the company, valued at approximately $17,721,973.57. The disclosure for this sale can be found here. Insiders have sold 54,175 shares of company stock valued at $4,487,253 in the last ninety days. Insiders own 1.87% of the company’s stock.

Pinnacle Financial Partners Stock Down 1.1 %

Pinnacle Financial Partners stock opened at $78.95 on Wednesday. Pinnacle Financial Partners, Inc. has a fifty-two week low of $43.31 and a fifty-two week high of $92.33. The company has a market cap of $6.09 billion, a PE ratio of 11.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50-day simple moving average is $82.53 and its two-hundred day simple moving average is $78.56.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.01. Pinnacle Financial Partners had a net margin of 20.17% and a return on equity of 9.78%. The company had revenue of $396.34 million for the quarter, compared to the consensus estimate of $416.97 million. During the same quarter in the prior year, the company earned $1.76 EPS. Pinnacle Financial Partners’s quarterly revenue was down 1.4% on a year-over-year basis. Equities analysts anticipate that Pinnacle Financial Partners, Inc. will post 6.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PNFP. Jefferies Financial Group cut their price target on shares of Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Barclays assumed coverage on shares of Pinnacle Financial Partners in a research report on Friday, March 8th. They set an “equal weight” rating and a $93.00 target price on the stock. Stephens reissued an “overweight” rating and set a $108.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 17th. Truist Financial increased their target price on Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, UBS Group dropped their price objective on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $92.57.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.