Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Shares Acquired by UMB Bank n.a.

UMB Bank n.a. lifted its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 83.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 497 shares of the financial services provider’s stock after buying an additional 226 shares during the period. UMB Bank n.a.’s holdings in Pinnacle Financial Partners were worth $49,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barlow Wealth Partners Inc. lifted its position in Pinnacle Financial Partners by 2.6% during the third quarter. Barlow Wealth Partners Inc. now owns 150,559 shares of the financial services provider’s stock valued at $14,311,000 after purchasing an additional 3,811 shares during the period. GAMMA Investing LLC lifted its position in Pinnacle Financial Partners by 16.5% during the third quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 141 shares during the period. Duncan Williams Asset Management LLC lifted its position in Pinnacle Financial Partners by 1.5% during the third quarter. Duncan Williams Asset Management LLC now owns 12,828 shares of the financial services provider’s stock valued at $1,257,000 after purchasing an additional 195 shares during the period. SG Americas Securities LLC lifted its position in Pinnacle Financial Partners by 62.1% during the third quarter. SG Americas Securities LLC now owns 7,412 shares of the financial services provider’s stock valued at $726,000 after purchasing an additional 2,840 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Pinnacle Financial Partners during the second quarter valued at $417,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays upped 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 research report on Friday, September 27th. JPMorgan Chase & Co. decreased 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 research report on Thursday, June 27th. Truist Financial upped their price objective on shares of Pinnacle Financial Partners from $101.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. 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 research report on Tuesday, October 1st. Finally, Citigroup upped their price objective on shares of Pinnacle Financial Partners from $93.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.10.

Pinnacle Financial Partners Stock Up 0.6 %

Shares of NASDAQ PNFP opened at $99.31 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. Pinnacle Financial Partners, Inc. has a 52 week low of $59.66 and a 52 week high of $100.76. The firm has a 50-day moving average price of $94.55 and a 200 day moving average price of $86.55. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 14.21 and a beta of 1.05.

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

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.