PYA Waltman Capital LLC Invests $229,000 in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

PYA Waltman Capital LLC acquired a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,000 shares of the financial services provider’s stock, valued at approximately $229,000.

A number of other institutional investors have also modified their holdings of PNFP. OneDigital Investment Advisors LLC raised its holdings in Pinnacle Financial Partners by 1.3% in the third quarter. OneDigital Investment Advisors LLC now owns 6,646 shares of the financial services provider’s stock valued at $651,000 after buying an additional 88 shares during the period. Principal Securities Inc. increased its position in shares of Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 91 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Pinnacle Financial Partners by 0.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 17,976 shares of the financial services provider’s stock valued at $1,761,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. lifted its holdings in shares of Pinnacle Financial Partners by 10.6% during the 3rd quarter. Blue Trust Inc. now owns 1,315 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 126 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Pinnacle Financial Partners by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 2,424 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 129 shares during the period. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Performance

Shares of PNFP stock opened at $118.28 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 19.78 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a one year low of $73.62 and a one year high of $131.91. The company’s 50-day simple moving average is $118.68 and its 200-day simple moving average is $109.45.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.80 by $0.10. The company had revenue of $475.34 million during the quarter, compared to analyst estimates of $470.33 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The business’s revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 EPS. Equities analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.24 per share. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.96 annualized dividend and a yield of 0.81%. Pinnacle Financial Partners’s payout ratio is presently 16.05%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PNFP. JPMorgan Chase & Co. reduced their price objective on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $135.00 price target (up from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th. Citigroup increased their price objective on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. UBS Group began coverage on shares of Pinnacle Financial Partners in a research report on Tuesday, December 17th. They set a “neutral” rating and a $133.00 target price on the stock. Finally, Stephens restated an “overweight” rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.18.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $124.09, for a total value of $6,204,500.00. Following the transaction, the chairman now owns 123,000 shares of the company’s stock, valued at approximately $15,263,070. This represents a 28.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Harold R. Carpenter sold 3,051 shares of Pinnacle Financial Partners stock in a transaction on Monday, December 9th. The stock was sold at an average price of $125.57, for a total value of $383,114.07. Following the completion of the transaction, the chief financial officer now owns 60,805 shares in the company, valued at $7,635,283.85. The trade was a 4.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,970 shares of company stock valued at $15,922,061. Company insiders own 1.87% of the company’s stock.

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.