Lmcg Investments LLC Invests $229,000 in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Lmcg Investments LLC acquired a new stake in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,000 shares of the financial services provider’s stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Pinnacle Financial Partners by 2.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 250,832 shares of the financial services provider’s stock valued at $20,077,000 after buying an additional 4,853 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Pinnacle Financial Partners by 9.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,046 shares of the financial services provider’s stock valued at $804,000 after acquiring an additional 875 shares during the last quarter. Hsbc Holdings PLC grew its position in Pinnacle Financial Partners by 14.6% in the second quarter. Hsbc Holdings PLC now owns 4,818 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 613 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Pinnacle Financial Partners during the 2nd quarter worth $368,000. Finally, Sei Investments Co. raised its holdings in shares of Pinnacle Financial Partners by 15.8% during the 2nd quarter. Sei Investments Co. now owns 268,208 shares of the financial services provider’s stock valued at $21,467,000 after purchasing an additional 36,604 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Performance

NASDAQ PNFP opened at $120.22 on Wednesday. The company’s fifty day moving average is $119.52 and its two-hundred day moving average is $104.47. Pinnacle Financial Partners, Inc. has a 52-week low of $73.62 and a 52-week high of $131.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of 22.86 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. The business had revenue of $475.34 million for the quarter, compared to the consensus estimate of $470,334.57 billion. Pinnacle Financial Partners had a return on equity of 8.89% and a net margin of 13.97%. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period last year, the business earned $1.68 earnings per share. Equities research analysts forecast that Pinnacle Financial Partners, Inc. will post 6.8 EPS for the current year.

Wall Street Analysts Forecast Growth

PNFP has been the topic of several analyst reports. Stephens increased their target price on shares of Pinnacle Financial Partners from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their price objective on Pinnacle Financial Partners from $104.00 to $120.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. decreased their target price on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. UBS Group started coverage on shares of Pinnacle Financial Partners in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price target on the stock. Finally, Truist Financial upped their price objective on shares of Pinnacle Financial Partners from $113.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $122.73.

Insider Transactions at Pinnacle Financial Partners

In other news, CFO Harold R. Carpenter sold 3,051 shares of Pinnacle Financial Partners stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $125.57, for a total transaction of $383,114.07. Following the sale, the chief financial officer now directly owns 60,805 shares in the company, valued at approximately $7,635,283.85. The trade was a 4.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Ingram sold 3,610 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $126.07, for a total transaction of $455,112.70. Following the completion of the sale, the director now directly owns 139,489 shares in the company, valued at approximately $17,585,378.23. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,661 shares of company stock valued at $9,563,127. 1.87% of the stock is owned by corporate insiders.

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.