Following these transactions, Ingram holds 92,565 shares directly and 139,489 shares indirectly through the Ingram Trust. Additionally, there are 2,000 shares held indirectly by his spouse and 120,000 depositary shares held directly. InvestingPro analysis shows PNFP currently trades near its Fair Value, with a consistent 12-year track record of dividend payments. For deeper insights into PNFP's valuation and performance metrics, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers. InvestingPro analysis shows PNFP currently trades near its Fair Value, with a consistent 12-year track record of dividend payments. For deeper insights into PNFP's valuation and performance metrics, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
Following these transactions, Ingram holds 92,565 shares directly and 139,489 shares indirectly through the Ingram Trust. Additionally, there are 2,000 shares held indirectly by his spouse and 120,000 depositary shares held directly.
In other recent news, Pinnacle Financial Partners (NASDAQ:PNFP) has been in the spotlight for a couple of significant developments. The company has recently received a price target increase from Citi, raising it to $123.00 from $113.00, reflecting Citi's confidence in the bank's growth prospects. This adjustment was influenced by the recent hiring of a strong team of relationship managers at Pinnacle Financial, which is expected to contribute to robust loan growth into 2025 and 2026.
On the earnings front, Pinnacle Financial reported strong third-quarter results, with loans increasing by 6.4% annualized and deposits growing by $887 million. The company has adjusted its 2024 loan growth expectation to 7%-8% and raised fee revenue expectations to 23%-26%. Despite a slight decrease in the Net Interest Margin (NIM) outlook, Pinnacle Financial's net interest margin improved to 3.22%, indicating a positive trajectory.
These recent developments highlight Pinnacle Financial's strong performance and future growth potential. The company's strategic initiatives and robust financial health, as evidenced by the recent earnings report and Citi's price target increase, suggest a positive outlook for the bank's growth trajectory.
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