According to a recent Form 13F filing submitted to the SEC, Advisors Capital Management disclosed a noteworthy new position in Pinnacle Financial Partners, Inc. (NASDAQ: PNFP) stock. Here’s what you need to know about Pinnacle Financial Partners, Inc., as well as Advisors Capital Management’s position in shares of PNFP stock:
Advisors Capital Management
Ridgewood, New Jersey-based Advisors Capital Management, LLC offers custom-tailored investment portfolios and management solutions to keep investors on top of their money. Advisors Capital Management has over $5 billion in discretionary assets under management. You can learn more about Advisors Capital Management on their website here.
Advisors Capital Management’s New Position in PNFP Stock
According to the most recent 13F filing from Advisors Capital Management, the institutional investment manager added a meaningful position in Pinnacle Financial Partners, Inc. (NASDAQ: PNFP), with 14,780 shares, which represents approximately 0.0193% of the 76,454,798 total PNFP shares outstanding. Based on PNFP’s last closing price of $85.79 per share, Advisors Capital Management’s stake in PNFP is worth approximately $1,267,976.20, assuming no change in the position size. If you’re not very familiar with Pinnacle Financial Partners, Inc., learn more below.
Pinnacle Financial Partners, Inc. (NASDAQ: PNFP)
Pinnacle Financial Partners, Inc., together with its subsidiaries, operates as the 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, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts. Its loan products include commercial loans, such as equipment and working capital loans; commercial real estate loans comprising investment properties and business loans secured by real estate; and loans to individuals consisting of secured and unsecured installment and term loans, lines of credit, residential first mortgage loans, and home equity loans and lines of credit, as well as provides credit cards for consumers and businesses. The company also offers various securities and other financial products; investment products; brokerage and investment advisory programs; and fiduciary and investment management services, such as personal trust, endowments, foundations, individual retirement accounts, pensions, and custody. In addition, it provides insurance agency services primarily in the property and casualty area; merger and acquisition advisory services; and private debt, equity and mezzanine, and other middle-market advisory services. Further, the company offers treasury management, telephone and online banking, mobile banking, debit cards, direct deposit and remote deposit capture, mobile deposit option, automated teller machine, and cash management services. It serves individuals, small to medium-sized businesses, and professional entities. As of December 31, 2020, the company operated 114 offices, including 48 in Tennessee, 36 in North Carolina, 20 in South Carolina, 9 in Virginia, and 1 in Georgia. Pinnacle Financial Partners, Inc. was incorporated in 2000 and is headquartered in Nashville, Tennessee.
Be sure to check out more recent 13F filings here to stay up to date on the latest disclosures from institutional investment managers like Advisors Capital Management. Also be sure to check out more recent 13F filing analysis news here.