Pinnacle Financial Partners has recruited eight-year banking veteran Nathan Matheson to be a senior vice president and business banker at its West Baddour office in Lebanon. Matheson, who is working on his master's in finance and economics at Middle Tennessee State University, had been a VP at SunTrust.
Pinnacle also has hired Liz Thomas in Lebanon as service specialist. She has 11 years of experience and joins Pinnacle from First Tennessee Bank, where she was an operations manager. Before that, she worked at Carolyn Miller State Farm Insurance and Wilson Bank & Trust.
Pinnacle runs four offices in Wilson and ranked second in deposit share as of mid-2013 with 13 percent of the market.
Pinnacle Financial Partners Chairman Rob McCabe this week sold almost 10 percent of his shares in the downtown-based bank holding company for about $1.7 million. McCabe, who helped launch Pinnacle in 2000, also exercised a batch of options that would have expired in January for about $470,000 and said he is holding on to those. He still owns more than $16 million worth of Pinnacle stock.
Separately, Pinnacle CAO Hugh Queener on Tuesday sold about $110,000 worth of shares.
SEE ALSO: Other notable recent insider trades from execs at Brookdale and the area's largest hospital companies
The 2014 edition of the Invest Tennessee Equity Conference is about six weeks away and the preliminary list of companies that will present includes five based in the Nashville area. They are Corrections Corp. of America, Delek US Holdings, Healthcare Realty Trust, Pinnacle Financial Partners and Tractor Supply. The latter is one of two members of the Fortune 500 to present. The other ships a lot of stuff out of Memphis.
Analyst Stephen Scouten at Sandler O'Neill has raised his rating on shares of Pinnacle Financial Partners to 'buy' from 'hold' after the bank holding company reported its second-quarter numbers. The move by Scouten is based on the valuation of Pinnacle, which is off about 10 percent from its recent highs (Ticker: PNFP) but is still up about 15 percent so far in 2014.
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