Pinnacle Financial Partners (NASDAQ:PNFP) Shares Sold by Mountain Pacific Investment Advisers Inc. ID
Mountain Pacific Investment Advisers Inc. ID trimmed its holdings in Pinnacle Financial Partners (NASDAQ:PNFP) by 8.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 219,780 shares of the financial services provider’s stock after selling 19,847 shares during the period. Mountain Pacific Investment Advisers Inc. ID owned 0.29% of Pinnacle Financial Partners worth $12,633,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of PNFP. Davy Asset Management Ltd acquired a new position in shares of Pinnacle Financial Partners in the 2nd quarter worth approximately $1,057,000. Bessemer Group Inc. grew its position in shares of Pinnacle Financial Partners by 9,140.0% in the 2nd quarter. Bessemer Group Inc. now owns 4,158 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 4,113 shares in the last quarter. Capital Impact Advisors LLC grew its position in shares of Pinnacle Financial Partners by 4.3% in the 2nd quarter. Capital Impact Advisors LLC now owns 30,717 shares of the financial services provider’s stock worth $1,741,000 after acquiring an additional 1,269 shares in the last quarter. Lbmc Investment Advisors LLC grew its position in shares of Pinnacle Financial Partners by 9.6% in the 2nd quarter. Lbmc Investment Advisors LLC now owns 22,826 shares of the financial services provider’s stock worth $1,312,000 after acquiring an additional 2,006 shares in the last quarter. Finally, Fenimore Asset Management Inc. grew its position in shares of Pinnacle Financial Partners by 3.0% in the 2nd quarter. Fenimore Asset Management Inc. now owns 551,833 shares of the financial services provider’s stock worth $31,719,000 after acquiring an additional 16,146 shares in the last quarter. 80.55% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Vice Chairman Ronald L. Samuel sold 500 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $56.61, for a total transaction of $28,305.00. Following the completion of the transaction, the insider now owns 22,675 shares in the company, valued at approximately $1,283,631.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles E. Brock sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $56.05, for a total value of $112,100.00. Following the transaction, the director now owns 36,304 shares of the company’s stock, valued at approximately $2,034,839.20. The disclosure for this sale can be found here. Insiders have sold a total of 3,000 shares of company stock valued at $170,645 in the last 90 days. Insiders own 2.97% of the company’s stock.
NASDAQ:PNFP traded down $0.12 during midday trading on Monday, reaching $61.02. 5,299 shares of the company traded hands, compared to its average volume of 485,715. Pinnacle Financial Partners has a twelve month low of $43.23 and a twelve month high of $66.54. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 0.84 and a beta of 1.36. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $57.05.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.14. Pinnacle Financial Partners had a return on equity of 9.82% and a net margin of 30.46%. The business had revenue of $259.60 million during the quarter, compared to analyst estimates of $252.44 million. During the same quarter in the previous year, the firm posted $1.15 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, sell-side analysts predict that Pinnacle Financial Partners will post 5.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, August 1st. This represents a $0.64 dividend on an annualized basis and a yield of 1.05%. Pinnacle Financial Partners’s dividend payout ratio is currently 13.50%.
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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