Nisa Investment Advisors LLC Increases Stock Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Nisa Investment Advisors LLC lifted its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 25.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,888 shares of the financial services provider’s stock after purchasing an additional 793 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Pinnacle Financial Partners were worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC purchased a new position in shares of Pinnacle Financial Partners in the 4th quarter worth about $32,000. Emerald Advisers LLC purchased a new position in shares of Pinnacle Financial Partners in the 3rd quarter worth about $27,000. Fifth Third Bancorp raised its position in shares of Pinnacle Financial Partners by 101.4% in the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 213 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Pinnacle Financial Partners in the 3rd quarter worth about $28,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Pinnacle Financial Partners in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Trading Up 0.2 %

Pinnacle Financial Partners stock opened at $78.46 on Friday. The business has a 50-day simple moving average of $82.40 and a two-hundred day simple moving average of $78.64. The company has a market cap of $6.05 billion, a P/E ratio of 10.93 and a beta of 1.08. Pinnacle Financial Partners, Inc. has a 52-week low of $43.31 and a 52-week high of $92.33. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.44.

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

Insider Buying and Selling at Pinnacle Financial Partners

In related news, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of the business’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 transaction of $553,519.33. Following the completion of the transaction, the chairman now directly owns 202,699 shares in the company, valued at approximately $17,721,973.57. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of the business’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 transaction of $553,519.33. Following the completion of the transaction, the chairman now directly owns 202,699 shares in the company, valued at approximately $17,721,973.57. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Richard D. Callicutt II sold 11,030 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $906,886.60. Following the transaction, the chairman now owns 97,226 shares of the company’s stock, valued at $7,993,921.72. The disclosure for this sale can be found here. Insiders sold a total of 54,175 shares of company stock worth $4,487,253 in the last three months. 1.87% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lowered their price target on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating for the company in a research report on Monday, April 8th. UBS Group decreased their target price on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, January 18th. Barclays began coverage on Pinnacle Financial Partners in a research report on Friday, March 8th. They issued an “equal weight” rating and a $93.00 target price for the company. Stephens reissued an “overweight” rating and issued a $108.00 target price on shares of Pinnacle Financial Partners in a research report on Wednesday, January 17th. Finally, Truist Financial boosted their target price on Pinnacle Financial Partners from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.57.

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.