Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Shares Purchased by Villanova Investment Management Co LLC

Villanova Investment Management Co LLC raised its stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 23,247 shares of the financial services provider’s stock after acquiring an additional 971 shares during the quarter. Pinnacle Financial Partners makes up 2.4% of Villanova Investment Management Co LLC’s investment portfolio, making the stock its 11th largest position. Villanova Investment Management Co LLC’s holdings in Pinnacle Financial Partners were worth $2,659,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. UMB Bank n.a. raised its position in shares of Pinnacle Financial Partners by 48.1% in the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock valued at $84,000 after buying an additional 239 shares during the last quarter. Principal Securities Inc. lifted its stake in Pinnacle Financial Partners by 12.7% in the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 91 shares in the last quarter. Trust Co. of Vermont acquired a new position in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $97,000. Values First Advisors Inc. grew its position in shares of Pinnacle Financial Partners by 189.9% in the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 955 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Pinnacle Financial Partners by 20.6% in the fourth quarter. Blue Trust Inc. now owns 1,586 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 271 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Insider Activity

In other Pinnacle Financial Partners news, Director David B. Ingram sold 40,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $126.50, for a total transaction of $5,060,000.00. Following the transaction, the director now directly owns 40,991 shares of the company’s stock, valued at approximately $5,185,361.50. This trade represents a 49.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO M Terry Turner sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total transaction of $201,260.00. Following the completion of the sale, the chief executive officer now directly owns 254,552 shares of the company’s stock, valued at $25,615,567.76. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,350 shares of company stock valued at $11,421,320. 1.46% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PNFP has been the topic of several analyst reports. UBS Group initiated coverage on Pinnacle Financial Partners in a report on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price target on the stock. Stephens restated an “overweight” rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Citigroup lifted their target price on Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. JPMorgan Chase & Co. lowered their price target on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Barclays raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $120.00 to $135.00 in a research note on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Pinnacle Financial Partners currently has a consensus rating of “Hold” and a consensus price target of $125.18.

Pinnacle Financial Partners Stock Up 0.9 %

PNFP stock opened at $106.04 on Tuesday. The company’s 50 day moving average price is $114.35 and its 200 day moving average price is $112.46. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 17.73 and a beta of 1.09. Pinnacle Financial Partners, Inc. has a fifty-two week low of $73.62 and a fifty-two week high of $131.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.80 by $0.10. The firm had revenue of $475.34 million for 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%. Pinnacle Financial Partners’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.68 earnings per share. On average, equities research analysts anticipate that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 7th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. This is a boost from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s payout ratio is currently 16.05%.

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.