Jane Street Group LLC Sells 83,874 Shares of Pinnacle Financial Partners, Inc. (PNFP)

Jane Street Group LLC decreased its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 84.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,678 shares of the financial services provider’s stock after selling 83,874 shares during the quarter. Jane Street Group LLC’s holdings in Pinnacle Financial Partners were worth $1,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNFP. Bank of Montreal Can lifted its stake in shares of Pinnacle Financial Partners by 11.1% during the 2nd quarter. Bank of Montreal Can now owns 3,742 shares of the financial services provider’s stock valued at $235,000 after buying an additional 374 shares in the last quarter. Aperio Group LLC lifted its stake in shares of Pinnacle Financial Partners by 19.5% during the 2nd quarter. Aperio Group LLC now owns 9,003 shares of the financial services provider’s stock valued at $565,000 after buying an additional 1,472 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of Pinnacle Financial Partners by 23.9% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 11,860 shares of the financial services provider’s stock valued at $745,000 after buying an additional 2,284 shares in the last quarter. World Asset Management Inc purchased a new position in shares of Pinnacle Financial Partners during the 2nd quarter valued at $301,000. Finally, Sei Investments Co. lifted its stake in shares of Pinnacle Financial Partners by 66.0% during the 2nd quarter. Sei Investments Co. now owns 4,378 shares of the financial services provider’s stock valued at $275,000 after buying an additional 1,740 shares in the last quarter. Institutional investors own 71.79% of the company’s stock.

In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 17,711 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $67.45, for a total value of $1,194,606.95. Following the sale, the chief financial officer now owns 107,090 shares in the company, valued at approximately $7,223,220.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $64.41, for a total transaction of $193,230.00. Following the completion of the sale, the insider now owns 58,794 shares in the company, valued at approximately $3,786,921.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,711 shares of company stock worth $4,483,257. Corporate insiders own 5.41% of the company’s stock.

Shares of Pinnacle Financial Partners, Inc. (PNFP) opened at $65.95 on Wednesday. The company has a market cap of $5,130.00, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. Pinnacle Financial Partners, Inc. has a one year low of $58.40 and a one year high of $71.55. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.57.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $216.20 million for the quarter, compared to analysts’ expectations of $217.13 million. Pinnacle Financial Partners had a net margin of 27.41% and a return on equity of 7.36%. The business’s quarterly revenue was up 102.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. equities analysts forecast that Pinnacle Financial Partners, Inc. will post 3.56 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 3rd were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.85%. The ex-dividend date was Thursday, November 2nd. Pinnacle Financial Partners’s payout ratio is currently 17.28%.

A number of research analysts recently weighed in on PNFP shares. SunTrust Banks restated a “buy” rating and set a $74.00 target price on shares of Pinnacle Financial Partners in a research note on Friday, October 20th. Hilliard Lyons upgraded shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Wednesday, August 23rd. Piper Jaffray Companies restated an “overweight” rating and set a $72.00 target price on shares of Pinnacle Financial Partners in a research note on Thursday, October 5th. BidaskClub cut shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Finally, Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Pinnacle Financial Partners currently has an average rating of “Hold” and an average target price of $73.75.

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About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

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Institutional Ownership by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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