Payments Industry Stock Price Tracker

Navigator Edition: April 2014
By: Collin Bauer

First Annapolis monitors monthly and annual movement in stock prices and current market capitalization for companies across the payments value chain. Observations for April 2014 are reflected in Figure 1. Last month, the payments sectors that First Annapolis tracks experienced mixed results, with only the processor / acquirer sector exceeding the broader market’s 1% increase in April.

Figure 1: Monthly Stock Price Tracker
Fig-1_-April-Stock-Price-TrackerNote: Weighted Averages are based on current market caps.
Source: Yahoo Finance, First Annapolis Consulting research and analysis.

In summary:

Issuer stock prices in April were largely influenced by quarterly earnings, which were released throughout the month. In April, the issuing sector posted declines of 6% in aggregate, which underperformed overall market trends (the market experienced a 1% gain). The most significant declines in April were posted by the two largest issuers, JPMorgan Chase (-7%) and Bank of America (-12%), creating a drag on the sector’s weighted-average figure. The issuing sector, as a whole, has posted declines of 4% thus far in 2014 on a YTD basis.

The processor / acquirer sector experienced overall gains of 2% in April. Lift in the sector was largely driven off gains from two of the three largest companies tracked within the sector, Fiserv (+7%) and TSYS (+4%). Companies within this sector have posted pointedly mixed results for the year with Fiserv and Global Payments both experiencing YTD gains of 3% in 2014, and Heartland Payments, at the other end of the spectrum, posting a decline of 18% for the year after a very volatile past few months. While individual performance has varied significantly, the processor / acquirer sector as a whole has posted declines of 1% in 2014.

Largely driven off first quarter earnings releases, MasterCard and Visa posted aggregate declines of 4% in April, and have posted declines of 10% year-to-date in 2014.

For more information, please contact Collin Bauer, Senior Analyst, specializing in Credit Card Issuing,

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