Fiserv Inc Stock Price, News & Analysis

Fiserv reports strong consumer spending growth during the 2024 Thanksgiving shopping week (Nov 27-Dec 2). Analysis of nearly 800 million transactions shows total retail same-store sales increased 5.7% with transactions up 6.7%. Small businesses outperformed with sales growth of 11.9% and transaction growth of 9.3%.

Brick-and-mortar purchases represented 58% of retail sales, growing 4.6%. Credit cards accounted for 64% of spending, though debit spending growth (+8.9%) outpaced credit (+4.1%). General Merchandise led category growth with sales up 13.5%, while Building Materials/DIY saw significant Black Friday gains (+17.4%).

Fiserv (NYSE: FI) announced that its Chairman, President and CEO Frank Bisignano has been nominated by President-elect Donald J. Trump as Commissioner of the Social Security Administration. The appointment requires U.S. Senate confirmation, during which Bisignano will maintain his current roles at Fiserv.

The Fiserv Board of Directors has confirmed they will follow their established succession plan to select Bisignano's replacement. Lead Director Doyle R. Simons emphasized that succession planning has been a priority and expressed confidence in selecting a new CEO to maintain the company's momentum in advancing finance, technology, and payments innovations.

Fiserv (NYSE: FI), a global leader in payments and financial services technology solutions, has announced a conference call scheduled for Thursday, December 5, 2024. The call will feature CEO Frank Bisignano, CFO Bob Hau, and Head of Investor Relations Julie Chariell.

The company will host a live webcast at 7:30 a.m. CT. Investors and interested parties can access the webcast through the investor relations section of Fiserv's website at investors.fiserv.com. A replay of the webcast will be made available approximately one hour after its conclusion.

The Fiserv Small Business Index for November 2024 reported significant growth in small business performance. The national index stood at 144, showing year-over-year increases in both sales (+4.8%) and transactions (+9.1%). Restaurant sector showed strong performance with sales up 8.1% and foot traffic up 8.7% year-over-year. Retail maintained positive momentum with 5.6% sales growth and 9.5% transaction growth compared to 2023. Regionally, Nebraska led state-wise growth at 13.1%, followed by Florida at 11.5%. Among major cities, Miami (+11.4%) and Atlanta (+7.5%) showed the strongest small business sales growth year-over-year.

Fiserv (NYSE: FI) and ADP (Nasdaq: ADP) announced a strategic partnership to integrate their small business solutions. The collaboration will combine ADP's RUN payroll and HR platform with Fiserv's Clover management system and CashFlow Central platform. 87 percent of small business owners expressed interest in a unified business management system, according to Fiserv research. The integrated solution will offer U.S.-based small businesses comprehensive capabilities across payroll, cash management, and payments. The partnership will begin this quarter with services launching in early 2025.

Fiserv (NYSE: FI) has announced its participation in two upcoming investor conferences. Chief Financial Officer Bob Hau will present at the UBS Global Technology Conference on December 4 at 4:15 p.m. ET. Additionally, Chairman, President, and CEO Frank Bisignano will present at the Raymond James TMT & Consumer Conference on December 10 at 11:20 a.m. ET. Both presentations will be available via live webcasts and archived replays on the company's investor relations website at investors.fiserv.com.

Genesis Bank, through its Genesis for Good Foundation, announced its first round of grant awards to five small businesses through the Catalyst Empowerment Grant Program. The program provides grants up to $10,000 to eligible small businesses, focusing on historically marginalized and underinvested entrepreneurs across Southern California. The initiative received support from Fiserv, Inc., Federal Home Loan Bank of San Francisco, and CVB Financial Corp. Grant recipients include Gutierrez Chiropractic, Prisma Communications, San & Wolves Bakeshop, Spark Studios, and Vinos Unidos, each receiving funds for specific business expansion and improvement projects.

Genesis for Good Foundation (GFG) has been awarded a $100,000 grant from the Federal Home Loan Bank of San Francisco's AHEAD Program, in partnership with Citizens Business Bank. The grant will support GFG's Catalyst Empowerment Grant Program, which provides up to $10,000 to eligible small businesses in Southern California's low to moderate-income communities. The program focuses on supporting historically marginalized and underinvested entrepreneurs by providing essential resources, capacity building, networking opportunities, education, and capital. Genesis Bank, as one of only five diverse, multiracial Minority Depository Institutions among approximately 4,600 U.S. banks, collaborated with Citizens Business Bank to secure this competitive grant.

The Fiserv Small Business Index rose to 147 in October 2024, marking one of the highest values since January 2019. Small business performance showed strong growth with sales increasing 7.1% year-over-year and 3.7% month-over-month, while transactions grew 8.8% year-over-year and 3.0% month-over-month. Retail trade performed particularly well, with the index reaching 150. Notable retail growth was seen in General Merchandise (+11.4%), Food and Beverage (+8.4%), and Furniture (+7.8%). Restaurants showed positive trends with 5.9% sales growth and 7.6% increased foot traffic year-over-year. Service-based businesses grew 7.4% compared to 2023, with Professional Services leading at 13.7% growth.