5,289 Shares in Pinnacle Financial Partners (PNFP) Purchased by Sigma Planning Corp

5,289 Shares in Pinnacle Financial Partners (PNFP) Purchased by Sigma Planning Corp

Sigma Planning Corp purchased a new position in shares of Pinnacle Financial Partners (NASDAQ:PNFP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,289 shares of the financial services provider’s stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HL Financial Services LLC raised its stake in shares of Pinnacle Financial Partners by 11.6% in the first quarter. HL Financial Services LLC now owns 15,292 shares of the financial services provider’s stock worth $836,000 after purchasing an additional 1,585 shares during the last quarter. Alps Advisors Inc. purchased a new position in shares of Pinnacle Financial Partners in the first quarter worth about $385,000. Patriot Investment Management Inc. purchased a new position in shares of Pinnacle Financial Partners in the first quarter worth about $1,522,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Pinnacle Financial Partners in the first quarter worth about $35,000. Finally, First Republic Investment Management Inc. raised its stake in shares of Pinnacle Financial Partners by 4.2% in the first quarter. First Republic Investment Management Inc. now owns 6,917 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 277 shares during the last quarter. 82.32% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners stock opened at $55.52 on Thursday. The stock has a market cap of $4.24 billion, a P/E ratio of 11.71, a P/E/G ratio of 0.77 and a beta of 1.39. Pinnacle Financial Partners has a 52 week low of $43.23 and a 52 week high of $68.70. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.64.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Monday, April 15th. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.21 by $0.03. The firm had revenue of $238.30 million for the quarter, compared to analyst estimates of $246.03 million. Pinnacle Financial Partners had a return on equity of 9.53% and a net margin of 30.80%. Pinnacle Financial Partners’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $1.13 earnings per share. Research analysts anticipate that Pinnacle Financial Partners will post 5.08 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.15%. The ex-dividend date is Thursday, May 2nd. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 13.50%.

In related news, Chairman Richard D. Callicutt II sold 4,035 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $59.01, for a total transaction of $238,105.35. Following the sale, the chairman now directly owns 129,269 shares of the company’s stock, valued at $7,628,163.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $56.74, for a total value of $90,784.00. Following the sale, the insider now directly owns 24,253 shares in the company, valued at $1,376,115.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,223 shares of company stock worth $2,808,137. 2.97% of the stock is owned by corporate insiders.

Several brokerages have recently issued reports on PNFP. BidaskClub cut Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. Raymond James cut Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 17th. They noted that the move was a valuation call. TheStreet upgraded Pinnacle Financial Partners from a “c+” rating to a “b-” rating in a research note on Wednesday, February 13th. Zacks Investment Research cut Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Finally, Stephens restated a “buy” rating and issued a $65.00 price objective on shares of Pinnacle Financial Partners in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Pinnacle Financial Partners presently has an average rating of “Hold” and a consensus target price of $64.14.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.

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