Pinnacle Financial Partners (NASDAQ:PNFP) Shares Sold by Northwestern Mutual Investment Management Company LLC

Northwestern Mutual Investment Management Company LLC trimmed its stake in shares of Pinnacle Financial Partners (NASDAQ:PNFP) by 6.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,966 shares of the financial services provider’s stock after selling 874 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Pinnacle Financial Partners were worth $709,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Pinnacle Financial Partners by 0.8% in the first quarter. BlackRock Inc. now owns 6,778,226 shares of the financial services provider’s stock worth $370,769,000 after purchasing an additional 51,123 shares during the last quarter. Vanguard Group Inc grew its holdings in Pinnacle Financial Partners by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 6,520,182 shares of the financial services provider’s stock worth $392,188,000 after acquiring an additional 142,700 shares in the last quarter. Ceredex Value Advisors LLC grew its holdings in Pinnacle Financial Partners by 13.6% during the 4th quarter. Ceredex Value Advisors LLC now owns 1,796,600 shares of the financial services provider’s stock worth $82,823,000 after acquiring an additional 215,400 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Pinnacle Financial Partners by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,586,418 shares of the financial services provider’s stock worth $73,135,000 after acquiring an additional 82,699 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Pinnacle Financial Partners by 0.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,545,122 shares of the financial services provider’s stock worth $84,518,000 after acquiring an additional 11,085 shares in the last quarter. 80.54% of the stock is owned by hedge funds and other institutional investors.

In other news, Vice Chairman Ronald L. Samuel sold 500 shares of Pinnacle Financial Partners stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $56.61, for a total transaction of $28,305.00. Following the transaction, the insider now owns 22,675 shares in the company, valued at approximately $1,283,631.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 1,600 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $56.74, for a total value of $90,784.00. Following the transaction, the insider now owns 24,253 shares in the company, valued at approximately $1,376,115.22. The disclosure for this sale can be found here. Insiders sold a total of 8,135 shares of company stock worth $469,294 in the last three months. 2.97% of the stock is owned by corporate insiders.

Shares of NASDAQ:PNFP traded up $0.52 during trading on Monday, hitting $58.00. 425,473 shares of the stock traded hands, compared to its average volume of 406,622. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.00 and a current ratio of 1.01. The stock has a market capitalization of $4.46 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 0.81 and a beta of 1.36. The business’s fifty day simple moving average is $55.63. Pinnacle Financial Partners has a 52-week low of $43.23 and a 52-week high of $66.54.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.03. Pinnacle Financial Partners had a net margin of 30.80% and a return on equity of 9.53%. The firm had revenue of $238.30 million for the quarter, compared to analysts’ expectations of $246.03 million. During the same quarter last year, the company earned $1.13 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Pinnacle Financial Partners will post 5.1 EPS for the current fiscal year.

Several brokerages have issued reports on PNFP. Zacks Investment Research cut shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a report on Saturday. BidaskClub lowered shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Stephens reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Pinnacle Financial Partners in a research report on Tuesday, April 16th. Finally, Raymond James set a $66.00 price objective on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.67.

Pinnacle Financial Partners Company 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.

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

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