Leeward Investments LLC MA Has $30.35 Million Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Leeward Investments LLC MA trimmed its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 347,976 shares of the financial services provider’s stock after selling 4,661 shares during the period. Pinnacle Financial Partners comprises 1.4% of Leeward Investments LLC MA’s portfolio, making the stock its 7th largest position. Leeward Investments LLC MA owned 0.45% of Pinnacle Financial Partners worth $30,350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Red Door Wealth Management LLC bought a new position in Pinnacle Financial Partners in the third quarter worth about $214,000. Peregrine Capital Management LLC raised its stake in Pinnacle Financial Partners by 1,239.7% in the third quarter. Peregrine Capital Management LLC now owns 158,900 shares of the financial services provider’s stock worth $10,653,000 after buying an additional 147,039 shares in the last quarter. Hunter Perkins Capital Management LLC raised its stake in Pinnacle Financial Partners by 6.0% in the third quarter. Hunter Perkins Capital Management LLC now owns 9,595 shares of the financial services provider’s stock worth $643,000 after buying an additional 545 shares in the last quarter. Covenant Partners LLC raised its stake in Pinnacle Financial Partners by 3.2% in the third quarter. Covenant Partners LLC now owns 10,550 shares of the financial services provider’s stock worth $707,000 after buying an additional 330 shares in the last quarter. Finally, Bfsg LLC bought a new position in Pinnacle Financial Partners in the third quarter worth about $277,000. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Price Performance

Shares of PNFP opened at $80.29 on Friday. The company has a market capitalization of $6.19 billion, a P/E ratio of 11.49 and a beta of 1.08. 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 50 day moving average of $82.20 and a 200 day moving average of $79.29. Pinnacle Financial Partners, Inc. has a twelve month low of $43.31 and a twelve month high of $92.33.

Pinnacle Financial Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, May 2nd. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 12.59%.

Insider Activity at Pinnacle Financial Partners

In related news, CFO Harold R. Carpenter sold 6,306 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total transaction of $518,479.32. Following the completion of the sale, the chief financial officer now owns 63,856 shares of the company’s stock, valued at $5,250,240.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Pinnacle Financial Partners news, Chairman Richard D. Callicutt II sold 11,030 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $906,886.60. Following the completion of the sale, the chairman now owns 97,226 shares of the company’s stock, valued at approximately $7,993,921.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Harold R. Carpenter sold 6,306 shares of Pinnacle Financial Partners stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 63,856 shares of the company’s stock, valued at approximately $5,250,240.32. The disclosure for this sale can be found here. Insiders sold 47,844 shares of company stock valued at $3,933,734 over the last 90 days. Corporate insiders own 1.87% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PNFP shares. Hovde Group decreased their price target on shares of Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday. Barclays started coverage on shares of Pinnacle Financial Partners in a research note on Friday, March 8th. They set an “equal weight” rating and a $93.00 target price for the company. Truist Financial decreased their target price 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. Finally, Stephens reaffirmed an “overweight” rating and set a $109.00 target price on shares of Pinnacle Financial Partners in a research note on Tuesday. One 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’s stock. According to MarketBeat, Pinnacle Financial Partners currently has a consensus rating of “Hold” and an average price target of $95.50.

Pinnacle Financial Partners 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.