Enlightenment Research LLC Takes $28,000 Position in Pinnacle Financial Partners (PNFP)

Enlightenment Research LLC acquired a new position in shares of Pinnacle Financial Partners (NASDAQ:PNFP) during the 4th quarter, Holdings Channel reports. The firm acquired 600 shares of the financial services provider’s stock, valued at approximately $28,000.

Several other institutional investors have also recently added to or reduced their stakes in PNFP. Nisa Investment Advisors LLC purchased a new stake in shares of Pinnacle Financial Partners in the third quarter valued at $481,000. Xact Kapitalforvaltning AB increased its stake in shares of Pinnacle Financial Partners by 9.9% in the third quarter. Xact Kapitalforvaltning AB now owns 11,095 shares of the financial services provider’s stock worth $667,000 after acquiring an additional 1,000 shares during the last quarter. Pwmco LLC increased its stake in shares of Pinnacle Financial Partners by 12.0% in the third quarter. Pwmco LLC now owns 149,204 shares of the financial services provider’s stock worth $8,975,000 after acquiring an additional 15,986 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Pinnacle Financial Partners by 72.3% in the third quarter. IFP Advisors Inc now owns 5,159 shares of the financial services provider’s stock worth $310,000 after acquiring an additional 2,164 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Pinnacle Financial Partners by 5.7% in the third quarter. First Trust Advisors LP now owns 152,280 shares of the financial services provider’s stock worth $9,160,000 after acquiring an additional 8,275 shares during the last quarter. Institutional investors own 79.22% of the company’s stock.

NASDAQ PNFP opened at $58.64 on Wednesday. Pinnacle Financial Partners has a 1-year low of $43.23 and a 1-year high of $68.85. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $4.54 billion, a PE ratio of 12.30, a P/E/G ratio of 0.82 and a beta of 1.41.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Tuesday, January 15th. The financial services provider reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.02. The business had revenue of $247.50 million for the quarter, compared to the consensus estimate of $246.73 million. Pinnacle Financial Partners had a net margin of 31.32% and a return on equity of 9.51%. Pinnacle Financial Partners’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 earnings per share. On average, sell-side analysts predict that Pinnacle Financial Partners will post 5.06 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Friday, February 1st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.09%. The ex-dividend date is Thursday, January 31st. Pinnacle Financial Partners’s payout ratio is 13.50%.

PNFP has been the topic of a number of research reports. TheStreet raised shares of Pinnacle Financial Partners from a “c+” rating to a “b-” rating in a research note on Wednesday, February 13th. Wells Fargo & Co set a $62.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Wednesday, January 16th. Stephens reaffirmed a “buy” rating and issued a $60.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, December 19th. BidaskClub raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, November 28th. Finally, UBS Group raised shares of Pinnacle Financial Partners from a “sell” rating to a “neutral” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Pinnacle Financial Partners has a consensus rating of “Hold” and a consensus price target of $64.86.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $55.96, for a total transaction of $89,536.00. Following the transaction, the insider now directly owns 26,375 shares of the company’s stock, valued at $1,475,945. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.39% of the company’s stock.

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Pinnacle Financial Partners Profile

Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.

See Also: Derivative

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

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