Enova shares slide 25% after Grasshopper bank acquisition stalls. Enova World shares fell 25% to $169.15 on Tuesday after the company withdrew regulatory applications tied to its planned $369 million acquisition of Grasshopper Bancorp, effectively ending the proposed deal. The decline marked Enova's steepest single-day drop since March 18, 2020, according to Dow Jones Market Data. The company said late Monday that it had withdrawn applications submitted to the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System. Regulatory process failed to advance. Enova announced the acquisition of Grasshopper Bancorp, a digital-first commercial bank, in December 2025. The transaction had remained subject to regulatory approval, but Enova said the application process had not made sufficient progress. CEO Steve Cunningham said the decision followed an extensive review and was in the best interests of Enova and its shareholders. He also argued that regulators have not established clear requirements for nonbank companies seeking to become banks, particularly those serving customers whose credit needs are primarily met outside the traditional banking system. Enova did not identify specific objections from regulators. Analyst lowers price target. Following the announcement, analysts cut their price target for ENVA to $215 from $270 while maintaining a Market Outperform rating. The stock was down about 20% at roughly $180 in early trading before extending its losses to nearly 25%. Despite the setback, Enova's underlying business has continued to produce strong results. In the second quarter of 2026, the company reported adjusted earnings of $4.31 per share on revenue of $929 million, exceeding estimates of $3.96 per share and $909.61 million, respectively. The results represented Enova's eighth consecutive quarter of earnings-per-share growth above 30%, supported by performance in both consumer and small-business lending. Even after Tuesday's sell-off, the stock remained up 7.6% year to date and approximately 40% over the previous 12 months. Enova's market capitalization stood at about $5.64 billion, while its price-to-earnings ratio was 16.72.

Enova International has increased its secured asset-backed revolving credit facility to $900 million from $825 million, according to a filing dated October 30, 2026. The company and certain subsidiaries signed a Fourth Amendment to their Amended and Restated Credit Agreement that day. Bank of Montreal acts as administrative agent and collateral agent, alongside the lenders party to the agreement. Enova, a Chicago-based online financial services provider, uses such facilities to fund its lending. It plans to file the full amended agreement as an exhibit to its annual report for the year ending December 31, 2026.

Lost money on Enova International, Inc. shares? The Law Offices of Frank R. Cruz continues investigating potential securities fraud after 23.43% stock decline. Investigation centers on the September 14, 2026 news about Enova International, Inc.; investors with losses may have potential claims to recover them. LOS ANGELES, Oct. 29, 2026 (GLOBE NEWSWIRE) - Enova International, Inc. ("Enova" or the "Company") investors who lost money may have claims to recover their losses. The Law Offices of Frank R. Cruz continues investigating potential securities fraud claims on behalf of investors in Enova International, Inc. (NYSE: ENVA), examining whether the Company may have violated the federal securities laws. The investigation centers on the disclosure about Enova International, Inc. on September 14, 2026. If you lost money on Enova International, Inc. securities, share your Enova International, Inc. loss information with the firm to learn about potentially pursuing a claim to recover your losses. Enova International, Inc. investigation at a glance * Date of disclosure: September 14, 2026 * Share price decline: $53.11 per share, or 23.43% * Closing price: $173.61 on September 15, 2026 What happened? On September 14, 2026, Enova announced it had withdrawn its Comptroller of the Currency and Federal Reserve applications for its proposed acquisition of Grasshopper Bancorp, a deal that would have made Enova a bank holding company. The Company stated, among other things that "Bank regulatory guidelines and attitudes have not kept pace with the realities of" consumers and "Regulators do not have clear standards for nonbanks that want to become banks and that serve customers whose credit needs today are met mostly outside of the banking system. Without clearly articulated standards, the process is susceptible to political pressure and outside advocacy, rather than being guided strictly by the statutory factors that should govern it." On this news, Enova shares are down as much as $53.11 or 23.43%, to close at $173.61 on September 15, 2026, thereby injuring investors. "Enova International, Inc. shares dropped 23.43% after it was disclosed on September 14, 2026 that Enova had withdrawn its applications to acquire Grasshopper Bancorp and become a bank holding company. Our investigation will look at whether investors had complete and accurate information before that disclosure," said Frank R. Cruz of The Law Offices of Frank R. Cruz. What should Enova International, Inc. investors do now? The Law Offices of Frank R. Cruz is investigating potential claims on behalf of Enova International, Inc. investors. Investors who lost money can visit the Enova International, Inc. investigation page, email [email protected], or call 310-914-5007. If you inquire by email, please include your mailing address, telephone number, and number of shares purchased. Questions and answers about the Enova International, Inc. investigation Who is eligible? Investors who purchased Enova International, Inc. securities and suffered losses may have claims, and can contact the firm to find out whether the Enova International, Inc. investigation affects them. What does a securities fraud investigation involve? In the Enova International, Inc. investigation, The Law Offices of Frank R. Cruz is examining whether the Company or its executives may have made false or misleading statements to investors in violation of the federal securities laws. Is there a lawsuit? This release announces an investigation by The Law Offices of Frank R. Cruz, not a lawsuit. If a securities class action is later filed against Enova International, Inc., investors may be able to seek appointment as lead plaintiff. How are attorneys' fees handled? The Law Offices of Frank R. Cruz works on contingency, so Enova International, Inc. investors pay no attorneys' fees up front. Any attorneys' fees and litigation expenses come only from a recovery, if there is one, and require court approval. Information for whistleblowers Anyone with non-public information about Enova International, Inc. should consider their options to assist the investigation or participate in the SEC Whistleblower Program. The program allows whistleblowers who provide original information leading to a successful SEC enforcement action to receive awards of 10 to 30 percent of the sanctions collected, when those sanctions exceed $1 million. For more information, contact Frank R. Cruz at 310-914-5007 or email [email protected]. About The Law Offices of Frank R. Cruz The Law Offices of Frank R. Cruz investigates and prosecutes securities fraud and corporate malfeasance class actions. With nearly 20 years of litigation experience, the firm focuses on complex securities class actions and gives each client personal, one-on-one attention throughout the legal process. Prior results do not guarantee a similar outcome. The Law Offices of Frank R. Cruz Los Angeles, CA Email: [email protected] Telephone: 310-914-5007 Follow The Law Offices of Frank R. Cruz for updates on Twitter: twitter.com/FRC_LAW