Boston Partners Trims Stock Position in Pinnacle Financial Partners, Inc. $PNFP

Core Viewpoint - Boston Partners reduced its holdings in Pinnacle Financial Partners by 7.8% in Q2, indicating a shift in investment strategy among institutional investors [1][2]. Institutional Holdings - Boston Partners owned 76,630 shares after selling 6,510 shares, representing 0.10% of Pinnacle Financial Partners valued at $8,458,000 [2]. - Other hedge funds have modified their positions: - Cetera Investment Advisers increased its stake by 36.1%, owning 16,725 shares worth $1,774,000 [3]. - HB Wealth Management LLC raised its position by 46.8%, now holding 4,734 shares valued at $502,000 [3]. - TD Asset Management Inc increased its holdings by 1.1%, owning 41,574 shares worth $4,409,000 [3]. - Zurcher Kantonalbank Zurich Cantonalbank lifted its stake by 2.3%, now owning 20,848 shares valued at $2,211,000 [3]. - LPL Financial LLC increased its position by 8.6%, owning 30,679 shares worth $3,253,000 [3]. - Institutional investors and hedge funds own 87.40% of the stock [3]. Analyst Ratings and Price Targets - Barclays raised its price target from $120.00 to $125.00, maintaining an "overweight" rating [4]. - Cowen initiated coverage with a "buy" rating and a target price of $122.00 [4]. - Keefe, Bruyette & Woods reduced their target price from $125.00 to $95.00, rating it as "market perform" [4]. - Wells Fargo decreased its target from $110.00 to $100.00, assigning an "equal weight" rating [4]. - The consensus rating is "Hold" with an average price target of $109.55 [4]. Insider Transactions - Chairman Robert A. McCabe, Jr. sold 6,775 shares at an average price of $93.00, totaling $630,075, reducing his ownership by 3.24% [5]. - Director G Kennedy Thompson purchased 5,000 shares at an average cost of $87.63, totaling $438,150, increasing his position by 17.62% [5]. - Company insiders currently own 1.46% of the stock [5]. Financial Performance - Pinnacle Financial Partners reported an EPS of $2.27 for the last quarter, exceeding the consensus estimate of $2.05 by $0.22 [7]. - Revenue for the quarter was $544.80 million, surpassing expectations of $526.40 million [7]. - The company had a net margin of 19.17% and a return on equity of 9.91% [7]. - Analysts expect the company to post an EPS of 7.85 for the current fiscal year [7]. Dividend Information - The company declared a quarterly dividend of $0.24, representing an annualized dividend of $0.96 and a yield of 1.0% [8]. - The payout ratio is currently 12.20% [8]. Company Overview - Pinnacle Financial Partners operates as a bank holding company providing various banking products and services in the U.S. [9].