Latest news with #PinnacleFinancial
Yahoo
3 days ago
- Business
- Yahoo
Synovus CEO says ballpark name change coming, just not sure when that will be
COLUMBUS, Ga. () — It was announced late last week that Columbus Synovus will be merging with Pinnacle Financial Partners. One of the questions that has been repeatedly asked is what will happen to the name of the ballpark with the Double-A Columbus Clingstones play? WRBL News 3 asked Synovus Chairman, President and CEO Kevin Blair that question during an exclusive interview on Friday. He said the merger process was at the very beginning, and it was too early for a definitive answer. 'Obviously, if we are rebranding Pinnacle, we want to make that park Pinnacle Park. It is some alliteration to it,' Blair said. The merger with Nashville-based Pinnacle is expected to be finalized in the first quarter of 2026. At that time, Synovus will take the name Pinnacle Bank. Blair, who will be the CEO and president of the merged companies, says the name rebranding process could take 12-14 months, which means it will likely be completed in 2027. Synovus purchased the naming rights for what was formerly Golden Park from the Clingstones ownership group, Diamond Baseball Holdings, last year. The city of Columbus invested $50 million to overhaul the park for the Atlanta Braves affiliate. This is the Clingstones first season in Synovus Park. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
Yahoo
5 days ago
- Business
- Yahoo
Synovus (SNV) Dives 12.5% on $8.6-Billion Merger with Pinnacle
We recently published . Synovus Financial Corp. (NYSE:SNV) is one of the worst-performing stocks on Friday. Synovus Financial fell by 12.54 percent on Friday to close at $49.61 apiece, its third consecutive day, as investors turned cautious over its planned $8.6-billion all-stock merger with Pinnacle Financial Partners, Inc. (NASDAQ:PNFP). Under the transaction, shares of Synovus and Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) will be converted into shares of a new Pinnacle parent company based on a fixed exchange ratio of 0.5237 Synovus shares per Pinnacle share. Source: Unsplash Synovus Financial Corp. (NYSE:SNV) Chairman, CEO and President Kevin Blair will serve as the combined entity's president and CEO; while Terry Turner, president and CEO of Pinnacle, will serve as the chairman of the combined entity's board of directors. The companies said they expect the transaction to close in the first quarter of 2026, subject to regulatory and both companies' shareholders' approvals. While we acknowledge the potential of SNV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
Yahoo
5 days ago
- Business
- Yahoo
Pinnacle shares tumble as $8.6 billion deal for Synovus raises fears of stricter oversight
By Ateev Bhandari and Pritam Biswas (Reuters) -Shares of U.S. regional banks Pinnacle Financial Partners and Synovus Financial fell on Friday as investors balked at the possibility of stricter regulatory requirements due to their merger, which would significantly increase their combined assets. The combined entity, with more than $115 billion in assets, would cross the threshold to be classified as a "large financial institution," subject to much stricter regulations. Analysts said that surpassing the $100 billion threshold often negatively affects bank profitability. "The broader balance sheet impact may not be fully captured in the company's current projections and that it could represent an incremental headwind to profitability," Jefferies analysts wrote in a note. "It necessitates growth in high-quality liquid asset securities, which typically yield less than loans." Shares of Synovus, which has more assets than Pinnacle, tumbled 12.7% in morning trading, while Pinnacle, which has a larger market capitalization, also declined, according to LSEG data. Expectations of lower interest rates and positive economic data have improved executive sentiment, a marked reversal from early April when U.S. tariff policy put dealmaking on hold. Analysts remain cautious about the timing of Pinnacle's decision. 'Pinnacle's organic growth model was strong enough not to require a deal that could disrupt the existing strategy,' J.P. Morgan analysts said. Some analysts said that crossing the asset mark could provide a buffer for a stronger balance sheet and enhance operational efficiency. "The combination includes two growth-oriented companies with a long history in large, growing Southeast markets giving a solid start out of the gate," analysts at Raymond James said in a note. U.S. bank M&A activity is expected to accelerate in the second half of the year, supported by a more accommodating regulatory environment and a new merger review process.
Reuters
5 days ago
- Business
- Reuters
Pinnacle shares tumble as $8.6 billion deal for Synovus raises fears of stricter oversight
July 25 (Reuters) - Shares of U.S. regional banks Pinnacle Financial Partners (PNFP.O), opens new tab and Synovus Financial (SNV.N), opens new tab fell on Friday as investors balked at the possibility of stricter regulatory requirements due to their merger, which would significantly increase their combined assets. The combined entity, with more than $115 billion in assets, would cross the threshold to be classified as a "large financial institution," subject to much stricter regulations. Analysts said that surpassing the $100 billion threshold often negatively affects bank profitability. "The broader balance sheet impact may not be fully captured in the company's current projections and that it could represent an incremental headwind to profitability," Jefferies analysts wrote in a note. "It necessitates growth in high-quality liquid asset securities, which typically yield less than loans." Shares of Synovus, which has more assets than Pinnacle, tumbled 12.7% in morning trading, while Pinnacle, which has a larger market capitalization, also declined, according to LSEG data. Expectations of lower interest rates and positive economic data have improved executive sentiment, a marked reversal from early April when U.S. tariff policy put dealmaking on hold. Analysts remain cautious about the timing of Pinnacle's decision. 'Pinnacle's organic growth model was strong enough not to require a deal that could disrupt the existing strategy,' J.P. Morgan analysts said. Some analysts said that crossing the asset mark could provide a buffer for a stronger balance sheet and enhance operational efficiency. "The combination includes two growth-oriented companies with a long history in large, growing Southeast markets giving a solid start out of the gate," analysts at Raymond James said in a note. U.S. bank M&A activity is expected to accelerate in the second half of the year, supported by a more accommodating regulatory environment and a new merger review process.
Yahoo
16-07-2025
- Business
- Yahoo
Compared to Estimates, Pinnacle Financial (PNFP) Q2 Earnings: A Look at Key Metrics
Pinnacle Financial (PNFP) reported $504.99 million in revenue for the quarter ended June 2025, representing a year-over-year increase of 37.8%. EPS of $2.00 for the same period compares to $1.63 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $492.81 million, representing a surprise of +2.47%. The company delivered an EPS surprise of +4.17%, with the consensus EPS estimate being $1.92. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Pinnacle Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net Interest Margin: 3.2% versus 3.2% estimated by six analysts on average. Efficiency Ratio: 56.7% versus 55.4% estimated by six analysts on average. Annualized net loan charge-offs to avg. loans: 0.2% versus the five-analyst average estimate of 0.2%. Average balances - Total interest-earning assets: $49.1 billion versus $48.7 billion estimated by four analysts on average. Nonaccrual loans: $157.17 million versus $180.33 million estimated by three analysts on average. Total nonperforming assets: $162.01 million compared to the $184.79 million average estimate based on three analysts. Total noninterest income: $125.46 million versus the six-analyst average estimate of $116.7 million. Net Interest Income: $379.53 million versus $376.81 million estimated by five analysts on average. Gains on mortgage loans sold, net: $1.97 million versus $3 million estimated by four analysts on average. Service charges on deposit accounts: $17.09 million versus $17.5 million estimated by three analysts on average. Insurance sales commissions: $3.69 million compared to the $4.41 million average estimate based on three analysts. Trust fees: $9.28 million versus the three-analyst average estimate of $9.4 million. View all Key Company Metrics for Pinnacle Financial here>>> Shares of Pinnacle Financial have returned +15% over the past month versus the Zacks S&P 500 composite's +5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pinnacle Financial Partners, Inc. (PNFP) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
