Pinnacle Financial Partners (PNFP) Chairman Richard D. Callicutt II Sells 20,000 Shares

Pinnacle Financial Partners (NASDAQ:PNFP) Chairman Richard D. Callicutt II sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $65.56, for a total value of $1,311,200.00. Following the transaction, the chairman now owns 168,741 shares in the company, valued at $11,062,659.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Pinnacle Financial Partners opened at $66.85 on Friday, Marketbeat reports. Pinnacle Financial Partners has a twelve month low of $65.45 and a twelve month high of $66.15. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.01. The firm has a market cap of $5.13 billion, a PE ratio of 18.73, a P/E/G ratio of 0.87 and a beta of 1.04.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Monday, April 16th. The financial services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Pinnacle Financial Partners had a return on equity of 7.52% and a net margin of 24.09%. The business had revenue of $218.60 million for the quarter, compared to analyst estimates of $220.48 million. During the same quarter in the prior year, the company earned $0.83 earnings per share. The company’s revenue was up 83.5% on a year-over-year basis. analysts predict that Pinnacle Financial Partners will post 4.72 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 4th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, May 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.84%. Pinnacle Financial Partners’s payout ratio is currently 15.69%.

A number of research firms recently commented on PNFP. UBS began coverage on Pinnacle Financial Partners in a report on Wednesday, March 21st. They issued a “sell” rating and a $56.00 price objective on the stock. BidaskClub upgraded Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a report on Friday, April 27th. SunTrust Banks decreased their price objective on Pinnacle Financial Partners to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Zacks Investment Research cut Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a report on Thursday, April 5th. Finally, Sandler O’Neill set a $76.00 price objective on Pinnacle Financial Partners and gave the company a “buy” rating in a report on Thursday, January 18th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Pinnacle Financial Partners presently has an average rating of “Buy” and an average price target of $72.22.

Several hedge funds have recently modified their holdings of PNFP. Bank of Montreal Can grew its stake in shares of Pinnacle Financial Partners by 104.6% during the fourth quarter. Bank of Montreal Can now owns 6,393 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 3,268 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Pinnacle Financial Partners by 130.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,300 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 1,300 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Pinnacle Financial Partners by 7.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 320,836 shares of the financial services provider’s stock worth $21,272,000 after purchasing an additional 20,866 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Pinnacle Financial Partners during the fourth quarter worth $350,000. Finally, GW&K Investment Management LLC grew its stake in shares of Pinnacle Financial Partners by 7.0% during the fourth quarter. GW&K Investment Management LLC now owns 311,132 shares of the financial services provider’s stock worth $20,628,000 after purchasing an additional 20,486 shares in the last quarter. Hedge funds and other institutional investors own 73.26% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Pinnacle Financial Partners (NASDAQ:PNFP)

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