GAMMA Investing LLC Buys 141 Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

GAMMA Investing LLC grew its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 16.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 994 shares of the financial services provider’s stock after acquiring an additional 141 shares during the period. GAMMA Investing LLC’s holdings in Pinnacle Financial Partners were worth $97,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Duncan Williams Asset Management LLC grew its position in shares of Pinnacle Financial Partners by 1.5% during the 3rd quarter. Duncan Williams Asset Management LLC now owns 12,828 shares of the financial services provider’s stock valued at $1,257,000 after acquiring an additional 195 shares during the period. SG Americas Securities LLC grew its position in shares of Pinnacle Financial Partners by 62.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,412 shares of the financial services provider’s stock valued at $726,000 after acquiring an additional 2,840 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Pinnacle Financial Partners during the 2nd quarter valued at approximately $417,000. Sanctuary Advisors LLC bought a new position in Pinnacle Financial Partners in the 2nd quarter worth approximately $322,000. Finally, Quarry LP boosted its holdings in Pinnacle Financial Partners by 3,500.0% in the 2nd quarter. Quarry LP now owns 756 shares of the financial services provider’s stock worth $61,000 after buying an additional 735 shares during the period. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $99.31 on Tuesday. The firm’s fifty day moving average price is $94.55 and its 200-day moving average price is $86.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $7.67 billion, a P/E ratio of 14.21 and a beta of 1.05. Pinnacle Financial Partners, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $100.76.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.03. The firm had revenue of $366.55 million for the quarter, compared to analysts’ expectations of $426.40 million. Pinnacle Financial Partners had a net margin of 13.93% and a return on equity of 8.97%. On average, equities research analysts expect that Pinnacle Financial Partners, Inc. will post 6.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PNFP has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Pinnacle Financial Partners from $108.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Piper Sandler downgraded shares of Pinnacle Financial Partners from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $95.00 to $98.00 in a report on Thursday, July 18th. Wells Fargo & Company downgraded shares of Pinnacle Financial Partners from an “overweight” rating to an “equal weight” rating and set a $100.00 price objective for the company. in a report on Tuesday, October 1st. Barclays raised their price objective on shares of Pinnacle Financial Partners from $97.00 to $101.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Finally, Hovde Group increased their target price on shares of Pinnacle Financial Partners from $110.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Pinnacle Financial Partners presently has a consensus rating of “Moderate Buy” and an average price target of $102.10.

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.