Swiss National Bank Raises Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Swiss National Bank increased its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 151,961 shares of the financial services provider’s stock after purchasing an additional 1,100 shares during the quarter. Swiss National Bank owned approximately 0.20% of Pinnacle Financial Partners worth $17,383,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Pinnacle Financial Partners during the third quarter worth approximately $70,000. UMB Bank n.a. boosted its stake in Pinnacle Financial Partners by 48.1% during the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock worth $84,000 after buying an additional 239 shares during the last quarter. Principal Securities Inc. boosted its stake in Pinnacle Financial Partners by 12.7% during the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after buying an additional 91 shares during the last quarter. Trust Co. of Vermont acquired a new position in Pinnacle Financial Partners during the fourth quarter worth $97,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in Pinnacle Financial Partners during the third quarter worth $137,000. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Price Performance

PNFP opened at $104.51 on Wednesday. The stock’s 50-day moving average price is $116.09 and its 200 day moving average price is $111.67. Pinnacle Financial Partners, Inc. has a 12-month low of $73.62 and a 12-month high of $131.91. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 17.48 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.10. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The firm had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. During the same quarter in the prior year, the company earned $1.68 EPS. Pinnacle Financial Partners’s revenue was up 19.9% on a year-over-year basis. As a group, sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were paid a dividend of $0.24 per share. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.96 annualized dividend and a yield of 0.92%. Pinnacle Financial Partners’s dividend payout ratio is presently 16.05%.

Insider Buying and Selling

In other Pinnacle Financial Partners news, CEO M Terry Turner sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total transaction of $201,260.00. Following the sale, the chief executive officer now owns 254,552 shares in the company, valued at $25,615,567.76. This represents a 0.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David B. Ingram sold 40,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $126.50, for a total value of $5,060,000.00. Following the sale, the director now owns 40,991 shares in the company, valued at approximately $5,185,361.50. This trade represents a 49.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,350 shares of company stock valued at $11,421,320. Corporate insiders own 1.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Stephens reissued an “overweight” rating and set a $142.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Citigroup boosted their price objective on Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. Wells Fargo & Company boosted their price objective on Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. UBS Group assumed coverage on Pinnacle Financial Partners in a research note on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price objective on the stock. Finally, Barclays raised Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and boosted their price objective 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 stock. According to MarketBeat.com, Pinnacle Financial Partners has an average rating of “Hold” and a consensus price target of $125.18.

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.