Insider Selling: Pinnacle Financial Partners (NASDAQ:PNFP) Vice Chairman Sells 500 Shares of Stock

Pinnacle Financial Partners (NASDAQ:PNFP) Vice Chairman Ronald L. Samuel sold 500 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $56.61, for a total transaction of $28,305.00. Following the transaction, the insider now directly owns 22,675 shares in the company, valued at approximately $1,283,631.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PNFP stock traded down $0.57 during trading on Friday, reaching $58.82. The company had a trading volume of 729,874 shares, compared to its average volume of 458,353. The business has a 50-day simple moving average of $56.26. The firm has a market cap of $4.53 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 0.80 and a beta of 1.36. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 0.99. Pinnacle Financial Partners has a twelve month low of $43.23 and a twelve month high of $66.54.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, July 16th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The company had revenue of $259.60 million during the quarter, compared to analysts’ expectations of $252.44 million. Pinnacle Financial Partners had a net margin of 30.46% and a return on equity of 9.82%. Pinnacle Financial Partners’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the business earned $1.15 EPS. As a group, analysts expect that Pinnacle Financial Partners will post 5.22 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Thursday, August 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 13.50%.

A number of research analysts have commented on PNFP shares. Stephens reissued a “hold” rating and set a $63.00 target price on shares of Pinnacle Financial Partners in a research report on Thursday. Zacks Investment Research restated a “hold” rating on shares of Western New England Bancorp in a report on Saturday, June 29th. BidaskClub cut shares of Zions Bancorporation NA from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 15th. Finally, Raymond James set a $8.00 price target on shares of Superior Energy Services and gave the company a “buy” rating in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $61.33.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc increased its holdings in Pinnacle Financial Partners by 2.2% in the third quarter. Vanguard Group Inc now owns 6,520,182 shares of the financial services provider’s stock valued at $392,188,000 after purchasing an additional 142,700 shares during the period. Prudential Financial Inc. boosted its position in Pinnacle Financial Partners by 4.2% during the fourth quarter. Prudential Financial Inc. now owns 49,302 shares of the financial services provider’s stock valued at $2,273,000 after acquiring an additional 2,000 shares during the last quarter. First Trust Advisors LP boosted its position in Pinnacle Financial Partners by 0.9% during the fourth quarter. First Trust Advisors LP now owns 153,581 shares of the financial services provider’s stock valued at $7,080,000 after acquiring an additional 1,301 shares during the last quarter. Toronto Dominion Bank bought a new stake in Pinnacle Financial Partners during the fourth quarter valued at $61,000. Finally, PNC Financial Services Group Inc. boosted its position in Pinnacle Financial Partners by 179.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,073 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 3,901 shares during the last quarter. Institutional investors own 80.53% of the company’s stock.

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

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