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Synovus director Murphy buys $48,800 in company stock

Published 29/07/2025, 23:26
Synovus director Murphy buys $48,800 in company stock
SNV
1.47%

Director Diana M. Murphy of Synovus Financial Corp (NYSE:SNV) purchased 1,000 shares of common stock on July 29, 2025, according to a Form 4 filing with the Securities and Exchange Commission. This insider purchase comes as InvestingPro data shows the stock has declined over 17% in the past week, while management has been actively buying back shares. The shares were bought at a price of $48.80, totaling $48,800. Following the transaction, Murphy directly owns 40,171 shares of Synovus Financial Corp. The purchase appears well-timed, as InvestingPro analysis indicates the stock is currently undervalued, with analysts setting price targets ranging from $54 to $65. The company maintains a strong dividend track record, having paid dividends for 52 consecutive years, with a current yield of 3.18%.

In other recent news, Synovus Financial has been in the spotlight due to several key developments. The company announced a merger with Pinnacle Financial Partners (NASDAQ:PNFP), expected to finalize in the first quarter of 2026, pending necessary approvals. As a result, Fitch Ratings revised Pinnacle Financial’s outlook to negative, maintaining its issuer default ratings at ’BBB’ and ’F3’. Meanwhile, Raymond (NSE:RYMD) James downgraded Synovus Financial from Outperform to Market Perform following the merger announcement. However, Citi raised its price target for Synovus to $65, citing strong loan growth as a decisive factor. In a turnaround, Raymond James later upgraded Synovus back to Outperform, after the company reported second-quarter 2025 results that surpassed expectations. These results led Synovus to enhance its 2025 outlook significantly. Additionally, Synovus is exploring strategic merger options after attracting interest from other parties. These developments highlight a period of significant activity and change for both Synovus Financial and Pinnacle Financial.

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