ENOVA INTL INC. DL-,01

Enova International’s stock fell about 17.5% in after-hours trading after the company withdrew its applications with the Office of the Comptroller of the Currency and the Federal Reserve to acquire Grasshopper Bancorp. CEO Steve Cunningham cited a lack of standards for nonbanks and an approval process vulnerable to political influence as reasons. The planned deal—which would have given Enova a bank charter, cheaper deposit-based funding and access to more customers—has effectively failed. Enova said it will redirect the capital earmarked for the acquisition into an accelerated share buyback program and confirmed its 2026 full-year guidance. » More on de.investing.com

Enova International shares rose to a record high of $265.60 after gaining 145.84% year to date and reaching a market capitalization of $6.55 billion. The company reported Q2 adjusted EPS of $4.31 per share on $929 million in revenue, beating expectations; this marks the eighth consecutive quarter with EPS growth above 30%. Three analysts recently raised their earnings estimates, the stock trades at a PEG of 0.42, while a fair-value analysis points to possible overvaluation. Citizens confirmed its "Market Outperform" rating and left the price target at $270.00. » More on de.investing.com

Enova has appointed Maria Veltre to its board of directors with immediate effect. William M. Goodyear and Mark McGowan are relinquishing their seats as part of a planned transition; the company says the departures are not due to disagreements. Veltre joins from Lightyear Capital and brings leadership experience from Santander US, Fifth Third Bank and Citi to support Enova’s growth and the announced acquisition of Grasshopper Bank. Enova’s shares have recently risen sharply and are trading near their 52-week high. » More on de.investing.com