David B. Ingram, a director at Pinnacle Financial Partners, Inc. (NASDAQ: PNFP), bought 10,000 shares of the company's common stock on October 28, 2026, according to the source. The purchase totaled $991,600, at prices from $99.04 to $99.28 per share, with a weighted average of $99.16.
After the purchase, Ingram directly holds 75,182 shares. He also has indirect holdings of 79,728 shares through the Ingram Trust, 2,000 shares held by his spouse, and 6,300 shares held by a trust for his children. He directly owns 120,000 Depositary Shares, each representing a 1/40th interest in a share of the company's 6.75% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series C.
The source reports that the stock has since risen to $101.71, a 22% gain over the past year. It cites InvestingPro analysis describing the company as undervalued at current levels, with a P/E ratio of 13.79. That assessment comes from InvestingPro, not from the source's own reporting.
Separately, the source reports that Pinnacle Financial posted third-quarter adjusted diluted earnings of $2.69 per share on revenue of $1.31 billion, above analyst expectations of $2.62 per share on $1.28 billion. Morgan Stanley raised its price target to $140 from $139 and kept an Overweight rating. DA Davidson raised its target to $115 from $112 and kept a Neutral rating.