|Bid||0.00 x 900|
|Ask||0.00 x 1800|
|Day's Range||25.83 - 26.25|
|52 Week Range||16.10 - 27.75|
|Beta (3Y Monthly)||0.77|
|PE Ratio (TTM)||9.65|
|Earnings Date||Oct 30, 2019|
|Forward Dividend & Yield||0.88 (3.37%)|
|1y Target Est||28.28|
(Bloomberg) -- Santander Consumer USA Holdings Inc., one of the biggest U.S. subprime auto finance companies, verified income on less than 3% of borrowers whose loans it bundled into more than $1 billion of bonds it sold this year, according to Moody’s Investors Service.That’s down from as high as 17% of loans verified for some asset-backed securities Santander issued in 2017, Moody’s analysts including Gary Lampert said in a Sept. 4 report. By comparison, GM Financial’s AmeriCredit, also a major subprime auto ABS issuer, verified income on about 68% of loans for a subprime auto ABS it priced this past June and 66% for a March deal.A Santander deep-subprime ABS that priced in June had 2.6% of loans verified for income, while the transaction before that had 3.2% checked, the Moody’s analysts said in an interview. A transaction currently marketed by Santander will likely be in the 3% range as well, or possibly lower, though that data won’t be released until the transaction closes, they said.This steady decline in Santander’s income verification levels in recent pools of loans means “that there is a higher chance of borrowers having weaker credit profiles than they have stated,” the Moody’s team wrote in their presale report, which rates certain tranches of the deal as high as Aaa, the highest investment-grade level.While a spokeswoman for Santander didn’t have any immediate comment on the Moody’s report, she pointed to information provided on the bank’s earnings calls and elsewhere saying that the percentage of income verification in ABS has declined as the company continues to refine its processes of screening high risk dealers and borrowers from its securitizations. Moreover, despite the lower percent of proof-of-income in more recent transactions, the performance of those transactions has been consistent or better than the historical deals that had a higher percentage of income-verified loans.Ratings firms have demanded higher levels of credit protection in deals over recent years to mitigate increasing delinquencies in the underlying loans.“Income verification is only one part of the entire underwriting process for the loans,” Moody’s analyst Nicky Dang said in the interview. “It’s only one factor that is baked into the historical deal performance we’ve seen, which has generally been consistent and stable.”However, it could be a contributing reason as to why expected losses on Santander subprime auto bonds are higher than bonds from its peers, Dang said. Moody’s expects average losses as high as 17% for loans underlying the bonds from Santander’s typical subprime series of transactions, although it forecasts losses of 24% for the deal currently marketing, which is from a deeper subprime series. In comparison, expected losses are at about 10% for similar subprime auto ABS from GM Financial.Borrowers in the bond currently marketing have an average FICO score of 581, and are paying average annual percentage rates of 18.9%, according to the Moody’s presale report.(Updates with FICO scores for borrowers in current Santander bond. A previous version of this story was corrected to clarify Moody’s loss forecast for Santander’s bonds in second-to-last paragraph)\--With assistance from Kristina D'Alessio.To contact the reporter on this story: Adam Tempkin in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Christopher DeReza at email@example.com, Christopher Maloney, Nikolaj GammeltoftFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
DALLAS, Aug. 21, 2019 /PRNewswire/ -- Santander Consumer USA (SC) and Chrysler Capital each awarded a $10,000 grand prize and five $500 prizes to customers who signed up for paperless statements prior to April 1. "We are excited to announce our winners of the paperless sweepstakes," said Lori Millard, SC executive vice president of customer service and operations.
Santander Consumer (SC) stock is a solid investment pick on the back of earnings strength, solid balance sheet position and favorable operating backdrop.
Not only will conservative investors seek them out, growth-oriented investors will also try to gain from the price surge in high-yield stocks.
The bank is launching a 12-week program for mid-career professionals — primarily women — who have been out of the workforce for years and want to make a return.
Joanna Ridgway spoke with the Dallas Business Journal about her role with Santander's Commercial Banking unit in the southwest U.S.
Santander Consumer (SC) delivered earnings and revenue surprises of 16.67% and -0.76%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
NEW YORK, NY / ACCESSWIRE / July 24, 2019 / Santander Consumer USA Holdings, Inc. (NYSE: SC ) will be discussing their earnings results in their 2019 Second Quarter Earnings to be held on July 24, 2019 ...
Santander US Appoints Timothy Wennes as President and CEO of Santander Bank, N.A., and Juan Carlos Alvarez as Santander US and SBNA CFO Santander Consumer Appoints Fahmi Karam as CFO, and Shawn Allgood ...
Net Income of $368 million and Total Auto Originations of $8.4 billion SC Appoints Fahmi Karam as CFO and Shawn Allgood as Head of Chrysler Capital and Auto Relationships Juan Carlos Alvarez Appointed ...
Santander Consumer (SC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Santander Consumer USA Holdings Inc NYSE:SCView full report here! Summary * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is low for SC with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $3.89 billion over the last one-month into ETFs that hold SC are not among the highest of the last year and have been slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Amendment Solidifies the Chrysler Capital Relationship and Positions SC to Build on Recent Success DALLAS , July 1, 2019 /PRNewswire/ -- Santander Consumer USA Holdings Inc. (NYSE: SC) ("SC" ...
Today, Santander Consumer USA Holdings lnc. (NYSE: SC ) (the "Company") announced its planned capital actions for the third quarter of 2019 through the second quarter of 2020, which are included ...
DALLAS , June 28, 2019 /PRNewswire/ -- Today, Santander Consumer USA Holdings lnc. (NYSE: SC) (the "Company") announced its planned capital actions for the third quarter of 2019 through the second ...