Cwm LLC Has $75,000 Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Cwm LLC raised its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 62.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 865 shares of the financial services provider’s stock after purchasing an additional 332 shares during the period. Cwm LLC’s holdings in Pinnacle Financial Partners were worth $75,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new position in Pinnacle Financial Partners in the 4th quarter worth $32,000. Emerald Advisers LLC bought a new position in shares of Pinnacle Financial Partners in the third quarter worth about $27,000. Fifth Third Bancorp boosted 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 valued at $28,000 after purchasing an additional 213 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings 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 during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in Pinnacle Financial Partners in the 4th quarter worth approximately $158,000. Institutional investors own 87.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PNFP. Stephens restated an “overweight” rating and issued a $109.00 price objective on shares of Pinnacle Financial Partners in a research note on Tuesday, April 23rd. Barclays assumed coverage on Pinnacle Financial Partners in a research note on Friday, March 8th. They set an “equal weight” rating and a $93.00 price target on the stock. UBS Group reduced their price objective 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. JPMorgan Chase & Co. lowered their price objective on Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Finally, Hovde Group decreased their price target on shares of Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Pinnacle Financial Partners presently has an average rating of “Hold” and an average target price of $95.50.

Pinnacle Financial Partners Price Performance

NASDAQ:PNFP opened at $83.29 on Wednesday. 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 $6.42 billion, a PE ratio of 11.92 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a 12 month low of $46.05 and a 12 month high of $92.33. The company’s 50-day moving average price is $81.77 and its two-hundred day moving average price is $80.16.

Pinnacle Financial Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 3rd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, May 2nd. Pinnacle Financial Partners’s payout ratio is currently 12.59%.

Insider Buying and Selling

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 115,249 shares of Pinnacle Financial Partners stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $81.04, for a total value of $9,339,778.96. Following the completion of the transaction, the chairman now owns 153,062 shares in the company, valued at approximately $12,404,144.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 115,249 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $81.04, for a total value of $9,339,778.96. Following the completion of the sale, the chairman now owns 153,062 shares in the company, valued at approximately $12,404,144.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Harold R. Carpenter sold 6,306 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $518,479.32. Following the completion of 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 have sold a total of 235,093 shares of company stock worth $19,103,353 in the last three months. Insiders own 1.87% of the company’s stock.

About Pinnacle Financial Partners

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.