Insider Selling: Pinnacle Financial Partners, Inc. (PNFP) CEO Sells 31,171 Shares of Stock

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) CEO M Terry Turner sold 31,171 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $67.11, for a total value of $2,091,885.81. Following the completion of the sale, the chief executive officer now directly owns 489,701 shares of the company’s stock, valued at approximately $32,863,834.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Pinnacle Financial Partners, Inc. (PNFP) traded up $0.90 during trading hours on Wednesday, hitting $68.55. The stock had a trading volume of 356,372 shares, compared to its average volume of 411,323. The stock has a market capitalization of $5,320.00, a price-to-earnings ratio of 21.16, a PEG ratio of 1.10 and a beta of 1.31. Pinnacle Financial Partners, Inc. has a 52-week low of $58.40 and a 52-week high of $71.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.99.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $216.20 million during the quarter, compared to analyst estimates of $217.13 million. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The business’s quarterly revenue was up 102.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. equities research analysts forecast that Pinnacle Financial Partners, Inc. will post 3.56 EPS for the current fiscal year.

Several analysts have issued reports on PNFP shares. SunTrust Banks reaffirmed a “buy” rating and issued a $74.00 target price on shares of Pinnacle Financial Partners in a research note on Friday, October 20th. Zacks Investment Research raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Wednesday, December 20th. BidaskClub lowered Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $72.00 target price on shares of Pinnacle Financial Partners in a research note on Thursday, October 5th. Finally, Hilliard Lyons raised Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Pinnacle Financial Partners presently has a consensus rating of “Buy” and an average price target of $75.17.

Large investors have recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its stake in shares of Pinnacle Financial Partners by 14.5% during the second quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 291 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Pinnacle Financial Partners by 61.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,464 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 935 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of Pinnacle Financial Partners by 149.7% during the second quarter. Riverhead Capital Management LLC now owns 3,496 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 2,096 shares during the period. South State Corp purchased a new stake in shares of Pinnacle Financial Partners during the second quarter valued at approximately $223,000. Finally, Green Square Capital LLC purchased a new stake in shares of Pinnacle Financial Partners during the second quarter valued at approximately $227,000. 71.75% of the stock is owned by hedge funds and other institutional investors.

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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.

Insider Buying and Selling by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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