Hunter Perkins Capital Management LLC Increases Position in Pinnacle Financial Partners, Inc. (NASDAQ:PNFP)

Hunter Perkins Capital Management LLC raised its position in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,145 shares of the financial services provider’s stock after buying an additional 410 shares during the period. Hunter Perkins Capital Management LLC’s holdings in Pinnacle Financial Partners were worth $1,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of Pinnacle Financial Partners in the first quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new stake in Pinnacle Financial Partners during the 2nd quarter worth approximately $29,000. Versant Capital Management Inc boosted its position in Pinnacle Financial Partners by 44.5% in the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider’s stock valued at $35,000 after buying an additional 133 shares during the period. UMB Bank n.a. grew its stake in shares of Pinnacle Financial Partners by 83.4% in the third quarter. UMB Bank n.a. now owns 497 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 226 shares in the last quarter. Finally, Quarry LP grew its stake in Pinnacle Financial Partners by 3,500.0% during the 2nd quarter. Quarry LP now owns 756 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 735 shares in the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on PNFP shares. JPMorgan Chase & Co. decreased their target price on Pinnacle Financial Partners from $108.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Wells Fargo & Company downgraded shares of Pinnacle Financial Partners from an “overweight” rating to an “equal weight” rating and set a $100.00 price target for the company. in a research report on Tuesday, October 1st. Truist Financial raised their price objective on shares of Pinnacle Financial Partners from $101.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Hovde Group upped their target price 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. Finally, Piper Sandler lowered Pinnacle Financial Partners from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $95.00 to $98.00 in a report on Thursday, July 18th. Five 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.10.

Pinnacle Financial Partners Stock Performance

Shares of PNFP stock traded up $3.57 on Wednesday, hitting $104.10. 311,651 shares of the stock traded hands, compared to its average volume of 464,489. The company’s fifty day moving average is $94.86 and its 200 day moving average is $86.66. Pinnacle Financial Partners, Inc. has a 1-year low of $59.66 and a 1-year high of $104.54. The company has a market capitalization of $8.04 billion, a PE ratio of 14.92 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.07. Pinnacle Financial Partners had a return on equity of 8.97% and a net margin of 13.93%. The firm had revenue of $810.11 million for the quarter, compared to analyst estimates of $454.18 million. During the same period last year, the company earned $1.79 earnings per share. On average, equities research analysts predict that Pinnacle Financial Partners, Inc. will post 6.8 earnings per share for the current fiscal year.

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.