International Assets Investment Management LLC Purchases 30,097 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

International Assets Investment Management LLC boosted its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 6,999.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,527 shares of the financial services provider’s stock after acquiring an additional 30,097 shares during the period. International Assets Investment Management LLC’s holdings in Pinnacle Financial Partners were worth $2,663,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new stake in Pinnacle Financial Partners during the 4th quarter worth approximately $32,000. Emerald Advisers LLC bought a new stake in Pinnacle Financial Partners during the 3rd quarter worth approximately $27,000. Fifth Third Bancorp raised its stake in Pinnacle Financial Partners by 101.4% during the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 213 shares during the period. ICA Group Wealth Management LLC bought a new stake in Pinnacle Financial Partners during the 4th quarter worth approximately $37,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in Pinnacle Financial Partners by 57.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 200 shares during the period. Institutional investors own 87.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PNFP. UBS Group reduced their price objective on shares of 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. Stephens reiterated an “overweight” rating and set a $108.00 price objective on shares of Pinnacle Financial Partners in a research report on Wednesday, January 17th. Barclays began 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 price objective on the stock. Jefferies Financial Group reduced their price objective on shares of Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Finally, Truist Financial lifted their price objective on shares of Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Pinnacle Financial Partners presently has an average rating of “Hold” and a consensus price target of $92.57.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $87.43, for a total transaction of $553,519.33. Following the completion of the transaction, the chairman now directly owns 202,699 shares of the company’s stock, valued at $17,721,973.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $87.43, for a total transaction of $553,519.33. Following the completion of the transaction, the chairman now directly owns 202,699 shares of the company’s stock, valued at $17,721,973.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harold R. Carpenter sold 6,306 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $518,479.32. Following the transaction, the chief financial officer now directly owns 63,856 shares of the company’s stock, valued at $5,250,240.32. The disclosure for this sale can be found here. Insiders sold 54,175 shares of company stock valued at $4,487,253 over the last three months. 1.87% of the stock is owned by company insiders.

Pinnacle Financial Partners Trading Up 0.2 %

Shares of PNFP opened at $78.46 on Friday. The company’s fifty day moving average is $82.40 and its 200 day moving average is $78.64. Pinnacle Financial Partners, Inc. has a fifty-two week low of $43.31 and a fifty-two week high of $92.33. The stock has a market capitalization of $6.05 billion, a PE ratio of 10.93 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.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.67 by $0.01. The company had revenue of $396.34 million during the quarter, compared to analyst estimates of $416.97 million. Pinnacle Financial Partners had a net margin of 20.17% and a return on equity of 9.78%. Pinnacle Financial Partners’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.76 earnings per share. Sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 6.83 earnings per share for the current fiscal year.

Pinnacle Financial Partners 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.