Leeward Investments LLC MA Has $32.02 Million Stock Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Leeward Investments LLC MA reduced its position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 6.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 326,864 shares of the financial services provider’s stock after selling 23,505 shares during the quarter. Pinnacle Financial Partners makes up 1.5% of Leeward Investments LLC MA’s portfolio, making the stock its 6th largest holding. Leeward Investments LLC MA’s holdings in Pinnacle Financial Partners were worth $32,023,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atria Investments Inc lifted its holdings in shares of Pinnacle Financial Partners by 40.9% during the first quarter. Atria Investments Inc now owns 43,241 shares of the financial services provider’s stock valued at $3,713,000 after acquiring an additional 12,551 shares during the period. Sei Investments Co. lifted its holdings in shares of Pinnacle Financial Partners by 34.6% during the first quarter. Sei Investments Co. now owns 231,604 shares of the financial services provider’s stock valued at $19,890,000 after acquiring an additional 59,583 shares during the period. Edgestream Partners L.P. lifted its holdings in shares of Pinnacle Financial Partners by 1,017.9% during the second quarter. Edgestream Partners L.P. now owns 71,064 shares of the financial services provider’s stock valued at $5,688,000 after acquiring an additional 64,707 shares during the period. Pier Capital LLC lifted its holdings in shares of Pinnacle Financial Partners by 16.5% during the second quarter. Pier Capital LLC now owns 111,797 shares of the financial services provider’s stock valued at $8,948,000 after acquiring an additional 15,797 shares during the period. Finally, Swedbank AB bought a new position in shares of Pinnacle Financial Partners during the first quarter valued at $21,470,000. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Price Performance

Shares of PNFP stock opened at $122.58 on Thursday. The stock has a 50-day moving average price of $99.21 and a 200 day moving average price of $89.35. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of 23.30 and a beta of 1.04. Pinnacle Financial Partners, Inc. has a 12 month low of $63.77 and a 12 month high of $122.96.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.07. The firm had revenue of $810.11 million during the quarter, compared to analyst estimates of $454.18 million. Pinnacle Financial Partners had a return on equity of 8.89% and a net margin of 13.97%. During the same period last year, the company earned $1.79 earnings per share. Research analysts expect that Pinnacle Financial Partners, Inc. will post 6.8 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 1st will be given a $0.22 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.88 dividend on an annualized basis and a yield of 0.72%. Pinnacle Financial Partners’s payout ratio is 16.73%.

Analysts Set New Price Targets

PNFP has been the subject of a number of analyst reports. Piper Sandler cut Pinnacle Financial Partners from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $95.00 to $98.00 in a report on Thursday, July 18th. Stephens raised their target price on Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays raised their target price on Pinnacle Financial Partners from $101.00 to $108.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Truist Financial raised their target price on Pinnacle Financial Partners from $113.00 to $119.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Hovde Group raised their target price on Pinnacle Financial Partners from $110.00 to $114.00 and gave the company 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 given a buy rating to the company. Based on data from MarketBeat.com, Pinnacle Financial Partners has a consensus rating of “Moderate Buy” and a consensus target price of $106.60.

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.