Short Interest in Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) Increases By 60.9%

Posted by Donna Armstrong on Oct 12th, 2024

Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP – Get Free Report) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 10,300 shares, an increase of 60.9% from the September 15th total of 6,400 shares. Based on an average daily trading volume, of 16,900 shares, the days-to-cover ratio is currently 0.6 days.

Pinnacle Financial Partners Stock Down 0.1 %

Pinnacle Financial Partners stock traded down $0.02 during mid-day trading on Friday, hitting $24.53. The company’s stock had a trading volume of 4,989 shares, compared to its average volume of 14,359. Pinnacle Financial Partners has a 52-week low of $20.50 and a 52-week high of $24.81. The firm’s 50 day moving average is $24.19 and its 200 day moving average is $23.80.

Pinnacle Financial Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Saturday, August 17th were issued a dividend of $0.422 per share. The ex-dividend date was Friday, August 16th. This represents a $1.69 annualized dividend and a yield of 6.88%.

Hedge Funds Weigh In On Pinnacle Financial Partners

A hedge fund recently bought a new stake in Pinnacle Financial Partners stock. Thompson Investment Management Inc. bought a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,000 shares of the company’s stock, valued at approximately $47,000.

About Pinnacle Financial Partners

(Get Free Report)

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.