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David B. Ingram, a director at Pinnacle Financial Partners Inc. (NASDAQ:PNFP), has recently sold a significant portion of his holdings in the company. According to a recent filing, Ingram sold a total of 47,071 shares of Pinnacle Financial’s common stock. The transactions, which took place on February 6, 2025, were executed at prices ranging from $126.50 to $126.55 per share, amounting to a total value of approximately $5.95 million. The sale occurred near the stock’s 52-week high of $131.91, with InvestingPro data showing a remarkable 53% return over the past year. According to InvestingPro’s Fair Value analysis, the stock appears slightly undervalued at current levels.
Post-transaction, Ingram retains direct ownership of 40,991 shares and indirect ownership of 79,728 shares through the Ingram Trust. Additionally, he holds 2,000 shares indirectly through his spouse. The filing also indicates Ingram’s ownership of 120,000 depositary shares, each representing a 1/40th interest in the company’s 6.75% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series B. With a market capitalization of $9.36 billion and a P/E ratio of 20.46, Pinnacle Financial maintains strong fundamentals. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report, offering deeper analysis of the company’s valuation and growth prospects.
In other recent news, Pinnacle Financial Partners Inc. disclosed the granting of equity awards to its key executives. The company’s Human Resources and Compensation Committee approved these awards, which include time-based restricted share units (RSUs) and performance-based restricted share units. These grants, part of the company’s long-term incentive plan, will vest over a three-year period and are contingent on the company’s performance metrics.
Furthermore, Citi analyst Benjamin Gerlinger increased the price target for Pinnacle Financial Partners to $148.00, up from the previous $132.00. Gerlinger attributed Pinnacle Financial’s success and distinctive performance in loan growth within the regional banking sector to its strategic hiring practices. He also expressed heightened confidence in the company’s earnings per share (EPS) outlook for 2026 and 2027.
In addition to this, Gerlinger updated the price target for Pinnacle Financial Partners stock earlier, raising it to $132 from $123. This revision reflects a positive outlook on the company’s growth potential over the next two to three years, particularly in terms of loan growth. Despite a slight increase in projected expenses for the years 2025 and 2026, Pinnacle Financial is anticipated to maintain its trend of adding lenders at a rate above its peers, contributing to a notable increase in loan growth.
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