Pinnacle Financial Partners director David B. Ingram bought 10,000 shares of the company's common stock on October 28, 2026, for a total of $991,600, according to a Form filing summarized by Investing.com. The shares were acquired at prices between $99.04 and $99.28, with a weighted average price of $99.16.
The source reports that the stock has since risen to $101.71, a 22% gain over the past year. It also says that Ingram directly holds 75,182 shares after the purchase. He holds additional shares indirectly through the Ingram Trust (79,728 shares), a trust for his children (6,300 shares), and his spouse (2,000 shares). He also directly owns 120,000 Depositary Shares, each representing a 1/40th interest in the company's 6.75% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series C.
The report cites InvestingPro analysis describing the stock as undervalued at current levels, with a P/E ratio of 13.79. Investing.com attributes that assessment to InvestingPro, not to independent analysis.
Separately, the source reports that Pinnacle posted third-quarter adjusted diluted earnings of $2.69 per share on revenue of $1.31 billion, above analysts' expectations of $2.62 per share on $1.28 billion. Morgan Stanley raised its price target to $140 from $139 with an Overweight rating. DA Davidson raised its target to $115 from $112 with a Neutral rating. The company also reported 12% growth in net interest income on a linked-quarter annualized basis, alongside a slight compression in net interest margin.