Pinnacle Financial Partners Inc. (NASDAQ:PNFP) Vice Chairman Ronald L. Samuel sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $65.59, for a total transaction of $327,950.00. Following the completion of the transaction, the insider now owns 79,794 shares in the company, valued at approximately $5,233,688.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of Pinnacle Financial Partners Inc. (NASDAQ:PNFP) opened at 63.80 on Tuesday. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 22.96 and a beta of 1.20. Pinnacle Financial Partners Inc. has a 52 week low of $43.32 and a 52 week high of $66.35. The firm’s 50-day moving average is $55.87 and its 200-day moving average is $53.18.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. Pinnacle Financial Partners had a net margin of 25.83% and a return on equity of 9.74%. The firm had revenue of $118.30 million for the quarter, compared to analysts’ expectations of $22.11 million. During the same quarter last year, the business earned $0.66 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Equities research analysts predict that Pinnacle Financial Partners Inc. will post $2.95 earnings per share for the current year.

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

The company also recently announced a quarterly dividend, which was paid on Friday, November 25th. Stockholders of record on Friday, November 4th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Wednesday, November 2nd. Pinnacle Financial Partners’s dividend payout ratio is 20.22%.

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Several hedge funds and other institutional investors have recently modified their holdings of PNFP. Vanguard Group Inc. boosted its position in shares of Pinnacle Financial Partners by 8.2% in the second quarter. Vanguard Group Inc. now owns 3,105,035 shares of the financial services provider’s stock valued at $151,681,000 after buying an additional 235,979 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Pinnacle Financial Partners by 19.7% in the third quarter. BlackRock Fund Advisors now owns 2,954,237 shares of the financial services provider’s stock valued at $159,765,000 after buying an additional 485,252 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Pinnacle Financial Partners by 5.8% in the second quarter. Jennison Associates LLC now owns 1,624,448 shares of the financial services provider’s stock valued at $79,354,000 after buying an additional 88,699 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Pinnacle Financial Partners by 3.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,271,382 shares of the financial services provider’s stock valued at $68,756,000 after buying an additional 41,400 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Pinnacle Financial Partners by 12.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,105,948 shares of the financial services provider’s stock valued at $59,810,000 after buying an additional 122,315 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

A number of research analysts have recently issued reports on PNFP shares. Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Hilliard Lyons downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and dropped their target price for the company from $64.00 to $59.00 in a research report on Thursday, October 20th. Sandler O’Neill downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating and set a $60.00 target price on the stock. in a research report on Tuesday, September 13th. Finally, Keefe, Bruyette & Woods downgraded shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $55.00 target price on the stock. in a research report on Thursday, October 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $57.29.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc (Pinnacle) is a bank holding company. Pinnacle operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville and Knoxville, Tennessee. As an urban community bank, Pinnacle provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management, offered by large regional and national banks.

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