Fiserv, Inc. (NASDAQ:FISV) shares are trending overnight after a Reuters report said the payments technology company is exploring the sale of its STAR debit card network.
Fiserv closed Monday’s regular session at $51.78, down 1.05%. Shares rebounded in after-hours trading, rising 7.49% to $55.66.
Fiserv is a financial technology company that provides payment processing, digital banking, merchant acquiring and account processing solutions to financial institutions and businesses.
According to Reuters, Fiserv has held discussions with several major U.S. banks, including JPMorgan Chase & Co. (NYSE:JPM), Bank of America Corp. (NYSE:BAC), Wells Fargo & Company (NYSE:WFC) and Principal Financial Group Inc (NASDAQ:PFG), about a potential sale of its STAR Network business. Reuters, citing a source familiar with the matter, said no deal is certain and the discussions could still fall apart.
Potential STAR Network Sale In Focus
The STAR Network provides infrastructure that routes debit, ATM, e-commerce and other payment transactions between banks, merchants and consumers. The network serves more than 115 million debit cardholders through over 2,800 financial institutions.
The report said a potential divestiture comes as Fiserv pursues a turnaround plan following a difficult year marked by a sharp decline in market value and leadership changes.
Earlier Monday, Fiserv also released its June Small Business Index, which showed small business sales increased 2.4% year over year, supported by higher average transaction values and a rebound in retail spending. The report also pointed to stabilizing consumer activity despite persistent inflation.
Trading Metrics
Fiserv has a market capitalization of approximately $27.61 billion.
The stock has traded between a 52-week high of $70.40 and a 52-week low of $47.04.
Over the past 12 months, FISV shares have declined approximately 70.12%.
Benzinga Edge Stock Rankings indicate negative short-, medium- and long-term price trends.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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