Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) CEO M Terry Turner Sells 72,000 Shares

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) CEO M Terry Turner sold 72,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $80.97, for a total transaction of $5,829,840.00. Following the transaction, the chief executive officer now owns 222,790 shares in the company, valued at approximately $18,039,306.30. The sale was disclosed in a filing with the SEC, which is available at this link.

M Terry Turner also recently made the following trade(s):

• On Tuesday, March 12th, M Terry Turner sold 24,057 shares of Pinnacle Financial Partners stock. The shares were sold at an average price of $82.22, for a total transaction of $1,977,966.54.

Pinnacle Financial Partners Trading Down 1.2 %

PNFP stock opened at $79.36 on Tuesday. 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 0.43. The firm has a market cap of $6.12 billion, a P/E ratio of 11.35 and a beta of 1.08. The company’s 50-day simple moving average is $82.11 and its 200-day simple moving average is $79.53.

Pinnacle Financial Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 3rd will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, May 2nd. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 12.59%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Rise Advisors LLC purchased a new stake in Pinnacle Financial Partners in the 1st quarter worth $26,000. Emerald Advisers LLC purchased a new stake in shares of Pinnacle Financial Partners during the third quarter worth about $27,000. Fifth Third Bancorp increased its stake in shares of Pinnacle Financial Partners by 101.4% during the third quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 213 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Pinnacle Financial Partners during the 4th quarter worth about $32,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake 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 buying an additional 200 shares in the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNFP has been the topic of several research analyst reports. Stephens reiterated an “overweight” rating and set a $109.00 price target on shares of Pinnacle Financial Partners in a research note on Tuesday, April 23rd. Barclays assumed coverage on shares of Pinnacle Financial Partners in a report on Friday, March 8th. They issued an “equal weight” rating and a $93.00 price target on the stock. Truist Financial decreased their price objective on shares of Pinnacle Financial Partners from $99.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group cut 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 note on Monday, April 8th. Finally, Hovde Group decreased their target price on shares of Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating for the company in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $95.50.

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.