Amid Wild Wall Street, Fintech Outperforms Market

canstockphoto0629670Wall Street has given investors a wild ride in recent days. That is, with the exception of fintech investors.

The Bank Innovation portfolio of stocks, which includes 25 fintech companies, has dropped in value 2.24% since July 20. That compares to a loss of 9.83% for the Nasdaq since that date.

The Dow industrials average broke a six-day losing streak yesterday, gaining 3.95%. Stocks were trading about 1.8% higher at 10:57 am ET today.

It helps that the fintech companies are performing well. For example, Jack Henry & Associates announced today that its second quarter revenue jumped 7% to nearly $1.3 billion, compared to the same period in 2014. Net income at JKHY, meanwhile, climbed 13% to $211.2 million.

JKHY is down 1.59% today, but only 5% since Aug. 21.

Among the fintech stocks that are particularly holding their value during the market turmoil, which started last Friday, are OnDeck Capital Inc., Q2 Holdings Inc., Fidelity National Information Services, known as FIS, and Bottomline Technologies. LendingClub Corp. and Blackhawk Network Holdings Inc. have not fared well, however. LC, for example, is down 10% over the last five trading days.

The Bank Innovation portfolio has a market capitalization of about $128.7 billion today.

The following companies are in the Bank Innovation portfolio:

  • Company – Ticker
  • ACI Worldwide Inc – ACIW
  • Blackhawk Network Holdings Inc – HAWK
  • Bottomline Technologies – EPAY
  • Diebold Inc – DBD
  • Envestnet Inc – ENV
  • Fidelity National Information Services – FIS
  • FIDOR Bank AG – FRA: F5R
  • First Internet Bancorp – INBK
  • Fiserv Inc – FISV
  • Green Dot Corporation – GDOT
  • Heartland Payment Systems Inc – HPY
  • Jack Henry & Associates Inc – JKHY
  • LendingClub Corp – LC
  • Lendingtree Inc – TREE
  • Mitek Systems, Inc. – MITK
  • NCR Corporation – NCR
  • NetSol Technologies Inc. – NTWK
  • On Deck Capital Inc – ONDK
  • Paypal Holdings Inc – PYPL
  • Q2 Holdings Inc – QTWO
  • TEMENOS Group AG – TMNSF
  • Top Image Systems Ltd. – TISA
  • Total System Services Inc – TSS
  • Vantiv Inc – VNTV
  • Virtual Piggy Inc – VPIG
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