Pinnacle Financial Director Burns Sells $124,500 In Company Stock By Investing.com | Old North State Wealth News
Connect with us

US News

Pinnacle financial director Burns sells $124,500 in company stock By Investing.com

Published

on

In a recent transaction on May 9th, Gregory L. Burns, a director of Pinnacle Financial Partners Inc. (NASDAQ:), sold 1,500 shares of the company stock at an average price of $83.00 per share, totaling $124,500. This sale was disclosed in a filing with the Securities and Exchange Commission.

The transaction has adjusted Burns’ stake in the Nashville-based financial institution to a total of 20,091 shares of Pinnacle Financial Partners Inc. following the sale. The deal took place under the ticker NASDAQ:PNFP, which represents the company’s common stock on the stock exchange.

Pinnacle Financial Partners Inc., categorized under National Commercial Banks with an SIC code of 6021, is a recognized player in the financial sector. The company’s headquarters are also located in Nashville, Tennessee, where Burns serves as a director.

The sale by Burns is part of the regular financial disclosures that directors and certain officers of publicly traded companies are required to make. These disclosures provide transparency to the market and ensure that all stakeholders have access to the same information regarding the trading activities of insiders.

Investors often monitor such transactions as they can provide insights into an insider’s perspective on the company’s current valuation and future prospects. However, it is important to note that insider transactions can be motivated by a variety of personal financial considerations and do not always indicate a change in company fundamentals.

The transaction comes amidst the broader market environment, where insider trades are often looked upon for cues about a company’s health and the confidence level of its top executives and board members. Pinnacle Financial Partners Inc. remains a significant entity within the financial services industry, and movements in its stock ownership are closely watched by investors seeking to understand the company’s internal dynamics and potential future performance.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.

InvestingPro Insights

Following the recent insider transaction at Pinnacle Financial Partners Inc. (NASDAQ:PNFP), where director Gregory L. Burns sold shares, the market is keen to understand the company’s financial health and future prospects. According to InvestingPro data, Pinnacle Financial Partners Inc. has a market capitalization of approximately $6.4 billion and a P/E ratio of 11.93, which adjusts to 11.99 for the last twelve months as of Q1 2024. This indicates a valuation that could be seen as reasonable in the context of the financial industry.

InvestingPro Tips suggest that the company has maintained dividend payments for 12 consecutive years, which reflects a commitment to returning value to shareholders. Additionally, analysts predict the company will be profitable this year, which is supported by a high return over the last year, with a 75.64% one-year price total return as of the latest data point. This performance is also echoed in the large price uptick over the last six months, at 28.71%, showcasing the company’s strong share price momentum.

For investors looking for more nuanced insights and additional InvestingPro Tips, there are 6 more tips available on the company’s profile, which can be accessed at https://www.investing.com/pro/PNFP. For those interested in a deeper dive into Pinnacle Financial Partners Inc.’s financials and forecasts, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.



Read the full article here

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Copyright © 2022 ONSWM News. Content posted on the Old North State Wealth News page was developed and produced by a third party news aggregation service. Old North State Wealth Management is not affiliated with the news aggregation service. The information presented is believed to be current. It should not be viewed as personalized investment advice. All expressions of opinion reflect the judgment of the authors on the date the articles were published. The information presented is not an offer to buy or sell, or a solicitation of any offer to buy or sell, any of the securities discussed.