Latest news with #Synovus
Business Insider
15 hours ago
- Business
- Business Insider
Barclays Keeps Their Buy Rating on Synovus (SNV)
In a report released on July 25, Jared Shaw from Barclays maintained a Buy rating on Synovus, with a price target of $65.00. The company's shares closed last Friday at $49.61. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Shaw is a 3-star analyst with an average return of 1.1% and a 53.28% success rate. Shaw covers the Financial sector, focusing on stocks such as UMB Financial, Cadence Bank, and BankUnited. In addition to Barclays, Synovus also received a Buy from TR | OpenAI – 4o's Wes Branchor in a report issued on July 26. However, on July 25, Wells Fargo downgraded Synovus (NYSE: SNV) to a Hold. The company has a one-year high of $61.06 and a one-year low of $35.94. Currently, Synovus has an average volume of 1.47M.
Yahoo
a day 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 This material may not be published, broadcast, rewritten, or redistributed.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
Business Upturn
2 days ago
- Business
- Business Upturn
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ITOS, CIO, SNV on Behalf of Shareholders
NEW YORK, July 26, 2025 (GLOBE NEWSWIRE) — Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: iTeos Therapeutics, Inc. (NASDAQ: ITOS)'s sale to Concentra Biosciences, LLC. Under the terms of the proposed transaction, Concentra will acquire iTeos for $10.047 in cash per share, plus one non-transferable contingent value right, representing the right to receive: (i) 100% of the closing net cash of iTeos in excess of $475 million; and (ii) 80% of any net proceeds received from any disposition of certain of iTeos' product candidates that occurs within six months following the closing. If you are an iTeos shareholder, click here to learn more about your rights and options. City Office REIT, Inc. (NYSE: CIO)'s sale to MCME Carell Holdings, LP and MCME Carell Holdings, LLC for $7.00 per share in cash. If you are a City Office shareholder, click here to learn more about your legal rights and options. Synovus Financial Corp. (NYSE: SNV)'s merger with Pinnacle Financial Partners. Under the terms of the proposed transaction, the shares of Synovus and Pinnacle shareholders 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. Upon closing of the proposed transaction, Synovus shareholders will own approximately 48.5% of the combined company. If you are a Synovus shareholder, click here to learn more about your legal rights and options. Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected]. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information:Halper Sadeh LLCDaniel Sadeh, Halper, World Trade Center85th FloorNew York, NY 10007(212) 763-0060 [email protected] [email protected]
Yahoo
3 days ago
- Business
- Yahoo
Pinnacle, Synovus to combine in $8.6B deal
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Nashville, Tennessee-based Pinnacle Bank and Columbus, Georgia-based Synovus will combine in an all-stock, $8.6 billion deal that's expected to close in the first quarter of 2026, the companies announced Thursday. The transaction marks, by far, the largest bank combination announced since the second Trump administration has taken office – and the highest-profile example of a bank primed to cross the $100 billion-asset threshold amid expected regulatory easing. The combined entity will operate under the Pinnacle name once the transaction closes, and the Pinnacle holding company will move its headquarters to Atlanta, the banks said Thursday. Synovus CEO Kevin Blair will serve as president and CEO of the combined company, while Pinnacle CEO Terry Turner will be chair of the board of directors. That board will comprise 15 directors – eight from Pinnacle and seven from Synovus. Among other anticipated C-suite moves, Pinnacle Chair Rob McCabe will become vice chair and chief banking officer of the combined company. Meanwhile, Synovus CFO Jamie Gregory will serve as CFO of the combined company. Under the deal, Pinnacle will add Synovus' roughly $61 billion in assets to its current $54.8 billion total, and embrace the Georgia bank's 244-branch presence that spans five states. 'This is a strategic expansion, not a market consolidation,' Blair said on a call discussing the transaction. 'The merger creates a complementary footprint that fits together like puzzle pieces.' Market reaction, however, could be dismissed as underwhelming, as shares for Pinnacle and Synovus fell after the announcement. Jeff Davis, managing director of financial advisory firm Mercer Capital, credited the fact that none of the U.S.'s super-regionals were involved as an acquirer. 'Wall Street loves acquisitions that entail a premium for a seller, and Wall Street will have a much more nuanced view to mergers of equals,' Davis told Bloomberg. As it stands, Pinnacle and Synovus shares will be converted into shares of a new Pinnacle parent company at a ratio of 0.5237 Synovus shares per Pinnacle share, representing a value of $61.18 for Synovus shares, or roughly a 10% premium. The deal, though, validates speculation that circulated this week indicating Synovus had drawn interest as a takeover target – a complication Turner noted Thursday. 'We've been through a long few days having to stand on the sidelines while rumors swirled and stocks traded wildly,' Turner said, according to The Atlanta Journal-Constitution. Once the transaction closes, Pinnacle shareholders will own roughly 51.5% of the combined company, and Synovus shareholders will own the remaining 48.5%. 'We are two high-performing institutions with one powerful future,' Blair said in a statement Thursday. 'Our belief in the success of this merger is grounded in a decade of strong results and proven execution from both companies. … Together with Terry and the Pinnacle team, we are primed for continued outperformance, as we are not just combining forces – we are multiplying our impact.' 'First domino' Critically, the deal may represent 'the first domino in a new round of 'rack 'em and stack 'em,'' Michael Ashley Schulman, partner at Running Point Capital Advisors, told Reuters. 'A friendlier regulatory environment may help mint several new trillion‑dollar megabanks over the next decade, figuratively making Wall Street even more competitive,' he said. Indeed, early in President Donald Trump's second term, the $35.3 billion combination of Capital One and Discover had been marked as the go-to test case for what banks could expect from regulators amid a business deal. While banks have proposed perhaps a couple dozen deals since regulators signed off on Capital One-Discover, few transactions surpassed the $1 billion threshold. Notable exceptions include Columbia Banking System's roughly $2 billion acquisition of Pacific Premier, proposed in April, and Huntington Bank's $1.9 billion pending purchase of Veritex, announced last week. In the Pinnacle-Synovus deal, the banking space now has a multibillion-dollar potential template it can observe from start to finish under Trump-era regulators and supervisors. While Biden-era holdovers such as Federal Reserve Gov. Michael Barr have warned policymakers to 'resist the pressure' to deregulate, his successor as the central bank's vice chair for supervision, Michelle Bowman, ran point this week on a conference that gauged expectations on banks' capital framework. Meanwhile, regulators like Federal Deposit Insurance Corp. Acting Chair Travis Hill have long bemoaned the lengthy approval timelines for proposed deals. Indeed, where a combination like Capital One-Discover took 14 months for the Fed and Office of the Comptroller of the Currency to approve, Pinnacle and Synovus are hedging their bets on an eight-month timeline. Then there's the hotly contested Sun Belt in which the combination will play out. Synovus had already stated its intention to hire roughly 85 relationship managers by 2027 in markets such as Atlanta; Miami, Orlando and Tampa, Florida; Birmingham, Alabama; and Charleston and Columbia, South Carolina. Add to that the pressure cooker into which Fifth Third, PNC, Huntington, Citizens and Bank of America are vying to expand. Turner on Thursday said he expects the deal will 'extend our legacy of building share in the most attractive markets nationally.' Executives added they are making "significant employment commitments" in Nashville, Atlanta and Columbus, Georgia. Local market leadership, meanwhile, will remain intact, Blair said. "To me, this is so much more compelling than continuing to grow the bank organically," Blair said, according to American Banker. The companies said they expect to realize $250 million in cost savings from the deal, which is estimated to be roughly 21% accretive to Pinnacle's operating earnings per share in 2027. The bank expects to earn back its tangible book value per share in 2.6 years. Recommended Reading TD, BMO adjust their timelines for First Horizon, Bank of the West deals
Business Wire
3 days ago
- Business
- Business Wire
SYNOVUS FINANCIAL INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Merger of Synovus Financial Corp.
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ('KSF') are investigating the proposed merger of Synovus Financial Corp. (NYSE: SNV) and Pinnacle Financial Partners (NasdaqGS: PNFP). Upon completion of the proposed transaction, Synovus shareholders will own approximately 48.5% of the combined company. KSF is seeking to determine whether the merger and the process that led to it are adequate, or whether the merger is fair to Synovus shareholders. If you would like to discuss your legal rights regarding the proposed transaction, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ( toll free at any time at 855-768-1857, or visit to learn more. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit
