75,799 Shares in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Acquired by Sage Investment Counsel LLC

Sage Investment Counsel LLC purchased a new position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 75,799 shares of the financial services provider’s stock, valued at approximately $8,671,000. Pinnacle Financial Partners accounts for approximately 11.3% of Sage Investment Counsel LLC’s investment portfolio, making the stock its biggest holding. Sage Investment Counsel LLC owned approximately 0.10% of Pinnacle Financial Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in PNFP. Ashton Thomas Securities LLC acquired a new stake in shares of Pinnacle Financial Partners during the third quarter worth approximately $30,000. Brooklyn Investment Group bought a new position in Pinnacle Financial Partners during the third quarter valued at approximately $70,000. UMB Bank n.a. raised its position in Pinnacle Financial Partners by 48.1% during the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 239 shares in the last quarter. Principal Securities Inc. raised its position in Pinnacle Financial Partners by 12.7% during the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 91 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in Pinnacle Financial Partners during the fourth quarter valued at approximately $97,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pinnacle Financial Partners news, Director David B. Ingram sold 10,309 shares of Pinnacle Financial Partners stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $126.00, for a total transaction of $1,298,934.00. Following the sale, the director now owns 82,256 shares in the company, valued at $10,364,256. The trade was a 11.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert A. Mccabe, Jr. sold 40,000 shares of Pinnacle Financial Partners stock in a transaction on Monday, February 24th. The stock was sold at an average price of $113.81, for a total transaction of $4,552,400.00. Following the sale, the chairman now owns 83,000 shares in the company, valued at $9,446,230. This represents a 32.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 166,970 shares of company stock valued at $20,474,461. 1.87% of the stock is owned by company insiders.

Pinnacle Financial Partners Trading Up 1.1 %

Shares of PNFP stock opened at $114.26 on Friday. Pinnacle Financial Partners, Inc. has a 1 year low of $73.62 and a 1 year high of $131.91. The firm’s fifty day simple moving average is $118.49 and its 200 day simple moving average is $110.41. The firm has a market capitalization of $8.83 billion, a P/E ratio of 19.11 and a beta of 1.09. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The business had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. During the same quarter in the previous year, the firm posted $1.68 earnings per share. Pinnacle Financial Partners’s revenue was up 19.9% compared to the same quarter last year. As a group, sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 7.85 EPS for the current year.

Pinnacle Financial Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were given a dividend of $0.24 per share. The ex-dividend date was Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a yield of 0.84%. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s payout ratio is 16.05%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. UBS Group assumed coverage on shares of Pinnacle Financial Partners in a research report on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price objective on the stock. Citigroup raised their price objective on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. Barclays raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $120.00 to $135.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $135.00 price objective (up previously from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price target on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Pinnacle Financial Partners currently has a consensus rating of “Hold” and a consensus target price of $125.18.

Pinnacle Financial Partners Company 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.