DA Davidson reiterated its Neutral rating on Pinnacle Financial Partners (NASDAQ:PNFP), keeping the price target steady at $110.00. This decision follows Pinnacle’s recent quarterly report, which displayed robust momentum leading into the recently finalized merger of equals (MOE) with Synovus Financial as of January 1, 2026.
Notably, Pinnacle exhibited double-digit increases in both loan and deposit volumes alongside a stable net interest margin (NIM), signaling resilience in core banking operations. Additionally, the firm reported improvements in classified assets and a reduction in non-performing loans (NPLs), which enhances the credit profile moving forward.
Workforce stability has been another bright spot amid the transition; Pinnacle’s full-time employee retention rate remains high at 93.2%, a key factor in maintaining operational continuity during integration with Synovus.
Looking ahead, DA Davidson highlighted Pinnacle’s reaffirmed forecast of 9% to 11% loan growth for the combined entity in 2026, offering clarity and a basis for near-term performance expectations post-merger.
In parallel, Pinnacle Financial Partners has undertaken adjustments to its executive compensation structure. The Chief Banking Officer, Robert A. McCabe Jr., will maintain a total target compensation of $5,890,000. His revised base salary is set at $3,465,000, augmented by a target annual bonus opportunity of $2,426,000, reflecting alignment with company performance and merger outcomes.
The market has responded with several analysts issuing updated ratings and price targets. Keefe, Bruyette & Woods increased the price target to $100.00, attributing the upgrade to higher anticipated loan growth in 2026. Evercore ISI and RBC Capital initiated coverage with Outperform ratings, citing confidence in Pinnacle’s ability to achieve merger objectives. Moreover, Piper Sandler elevated Pinnacle to Overweight and raised the price target to $120.00 following the Synovus acquisition.