Equitable Trust Co. Has $1.16 Million Stock Holdings in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Equitable Trust Co. lifted its stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,798 shares of the financial services provider’s stock after acquiring an additional 417 shares during the quarter. Equitable Trust Co.’s holdings in Pinnacle Financial Partners were worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PNFP. Dimensional Fund Advisors LP increased its position in Pinnacle Financial Partners by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,094,498 shares of the financial services provider’s stock worth $247,673,000 after buying an additional 292,401 shares during the last quarter. Swedbank AB acquired a new position in Pinnacle Financial Partners during the first quarter worth $21,470,000. Principal Financial Group Inc. increased its position in Pinnacle Financial Partners by 27.0% during the third quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider’s stock worth $96,332,000 after buying an additional 208,938 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in Pinnacle Financial Partners during the second quarter worth $16,092,000. Finally, Stieven Capital Advisors L.P. acquired a new position in Pinnacle Financial Partners during the first quarter worth $6,003,000. 87.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company increased their target price on shares of Pinnacle Financial Partners from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Hovde Group upped their price target on shares of Pinnacle Financial Partners from $110.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Citigroup upped their price target on shares of Pinnacle Financial Partners from $113.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays upped their price target on shares of Pinnacle Financial Partners from $101.00 to $108.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Stephens upped their price target on shares of Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.60.

Pinnacle Financial Partners Stock Up 1.7 %

NASDAQ PNFP opened at $121.06 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a 50-day simple moving average of $100.03 and a 200 day simple moving average of $89.89. Pinnacle Financial Partners, Inc. has a twelve month low of $63.77 and a twelve month high of $122.96. The stock has a market cap of $9.35 billion, a PE ratio of 23.02 and a beta of 1.04.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.07. Pinnacle Financial Partners had a net margin of 13.97% and a return on equity of 8.89%. The firm had revenue of $810.11 million during the quarter, compared to analyst estimates of $454.18 million. During the same quarter in the prior year, the business posted $1.79 earnings per share. On average, research analysts forecast that Pinnacle Financial Partners, Inc. will post 6.8 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 1st will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.73%. The ex-dividend date is Friday, November 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 16.73%.

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.