Quick SummaryENVA shares plummeted 25% to $169.15 on Tuesday, marking the steepest single-session decline since mid-March 2020.Enova pulled its regulatory filings with the OCC and Federal Reserve concerning the Grasshopper Bancorp transaction.The acquisition, unveiled in December 2025, carried a $369 million price tag.Chief Executive Steve Cunningham blamed ambiguous regulatory frameworks for nonbanking institutions attempting bank acquisitions.Citizens lowered ENVA’s price objective from $270 to $215 while keeping its Market Outperform recommendation.Enova International (ENVA) suffered a brutal trading session on Tuesday. Shares collapsed 25% to $169.15, setting the stage for the company’s most severe one-day loss since March 18, 2020, based on Dow Jones Market Data.vEnova International, Inc., ENVAThe sharp decline followed Monday evening’s disclosure that Enova had terminated its regulatory submissions to both the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System.These filings were directly connected to the company’s proposed $369 million takeover of Grasshopper Bancorp, a digitally-focused commercial banking institution. The withdrawal effectively terminates the transaction.Enova originally unveiled its intent to acquire Grasshopper in December 2025. Since that announcement, the transaction had remained in regulatory limbo awaiting government approval.Chief Executive Steve Cunningham provided clarity on the strategic reversal. “Following extensive analysis, we believe withdrawing our regulatory applications represents the optimal path forward for Enova and those who hold our shares,” he stated in an official company announcement.Cunningham further highlighted regulatory challenges as a decisive element. “Federal regulators have not established transparent criteria for nonbank financial institutions seeking to transition into chartered banks, particularly those serving consumers whose financing requirements are predominantly addressed beyond traditional banking channels,” he explained.The organization refrained from identifying particular regulatory objections. Instead, it attributed the withdrawal to insufficient advancement throughout the approval pipeline.Analyst Reduces Price ForecastA Citizens analyst revised the price forecast for ENVA downward to $215 from the previous $270 target in response to the development, though maintained a Market Outperform designation.The firm observed that ENVA shares were trading down approximately 20% near $180 during pre-market activity immediately following the disclosure. The ultimate decline expanded closer to 25% by session’s end.Citizens highlighted that the equity appears overvalued when measured against Fair Value according to InvestingPro metrics, although its PEG ratio of 0.36 suggests attractive valuation when factoring in growth expectations.Robust Financial Performance ContinuesNotwithstanding the collapsed acquisition, Enova’s core operations have delivered impressive results. The firm posted adjusted earnings of $4.31 per share on revenues totaling $929 million during the second quarter of 2026.These figures surpassed analyst consensus projections of $3.96 per share and $909.61 million in total revenue.The results also represented the eighth consecutive quarter delivering earnings per share growth exceeding 30%, with Citizens previously highlighting momentum across both consumer credit and small-business lending segments.Despite Tuesday’s substantial setback, ENVA shares remain up 7.6% since the start of the year and have appreciated roughly 40% over the trailing twelve-month period.The company’s market capitalization currently hovers around $5.64 billion, with shares trading at a P/E multiple of 16.72.Citizens preserved its Market Outperform stance despite trimming the price target, pointing to the firm’s expansion trajectory as justification.The post Enova International (ENVA) Stock Plummets 25% After Abandoning $369M Grasshopper Bank Acquisition appeared first on Blockonomi.