Pinnacle Financial Partners, Inc. (NYSE:PNFP) announced Monday that it has completed its previously announced merger with Synovus Financial Corp. The transaction became effective January 1, 2026, following the terms set forth in the Agreement and Plan of Merger dated July 24, 2025. The combined entity now commands a market capitalization of $14 billion and trades at a P/E ratio of 11.5, with analysts projecting earnings of $10.35 per share for fiscal 2026. According to InvestingPro analysis, which offers comprehensive insights on over 1,400 US stocks, 10 analysts have recently revised their earnings estimates upward for the upcoming period.
The merger involved Pinnacle Financial Partners, Inc., a Georgia corporation and the successor entity, Synovus Financial Corp., also a Georgia corporation, and Pinnacle Financial Partners, Inc., a Tennessee corporation. As part of the process, Pinnacle Financial Partners, Inc. (formerly Steel Newco Inc.) has now filed the Annual Report on Form 10-K for the fiscal year ended December 31, 2025, for the legacy Pinnacle entity. In addition, the company is filing the Annual Report on Form 10-K for the fiscal year ended December 31, 2025, for legacy Synovus as an exhibit to its current report.
The filing, made with the U.S. Securities and Exchange Commission, formalizes the completion of the merger and the transition of financial reporting for both legacy companies under the new corporate structure.
This information is based on a press release statement included in the company's SEC filing.
In other recent news, Pinnacle Financial Partners reported its fourth-quarter 2025 earnings, showing a notable discrepancy between earnings per share (EPS) and revenue results. The company's EPS was $1.47, significantly missing the forecast of $2.25 by 34.67%. However, revenue was a bright spot, reaching $629.67 million, which surpassed expectations of $549.2 million, reflecting a 14.65% positive surprise. Following these results, Piper Sandler raised its price target for Pinnacle Financial Partners to $122, maintaining an Overweight rating, citing incremental positives in the company's forward narrative. Additionally, Truist Securities increased its price target to $119, maintaining a Buy rating, influenced by the completion of the Synovus merger and updated 2026 guidance. Raymond James reiterated a Strong Buy rating on Pinnacle Financial, with a price target of $120, noting an increase in their 2027 EPS estimate despite the EPS miss. These developments highlight the mixed but optimistic outlook from analysts regarding Pinnacle Financial's future performance.