Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) Short Interest Up 2,100.0% in May

Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 6,600 shares, an increase of 2,100.0% from the May 15th total of 300 shares. Based on an average trading volume of 13,200 shares, the short-interest ratio is presently 0.5 days.

Pinnacle Financial Partners Price Performance

PNFPP stock traded up $0.45 on Wednesday, reaching $23.65. The company had a trading volume of 1,918 shares, compared to its average volume of 12,960. The company’s fifty day moving average is $23.43 and its 200 day moving average is $23.42. Pinnacle Financial Partners has a 1 year low of $20.50 and a 1 year high of $24.81.

Pinnacle Financial Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 17th were paid a $0.422 dividend. This represents a $1.69 annualized dividend and a yield of 7.14%. The ex-dividend date was Thursday, May 16th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Pinnacle Financial Partners stock. Thompson Investment Management Inc. bought a new stake in Pinnacle Financial Partners, Inc. (NASDAQ:PNFPP) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,000 shares of the company’s stock, valued at approximately $47,000.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.