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LINCOLN, NE – Nelnet Inc . (NYSE:NNI), a $4.02 billion market cap company specializing in education financial services, disclosed on Thursday that Nelnet Bank, its fully-owned subsidiary, has submitted its quarterly financial report to the Federal Deposit Insurance Corporation (FDIC).
The company, which has maintained dividend payments for 18 consecutive years according to InvestingPro data, demonstrates strong financial health with a current ratio of 7.37.
The financial statements, known as the Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only and Total (EPA:TTEF) Assets Less than $5 Billion – FFIEC 051, cover the quarter ending December 31, 2024.
These reports are required for banks with domestic offices and total assets under $5 billion and provide a snapshot of the bank’s financial condition at the end of the quarter. InvestingPro analysis reveals the company maintains a healthy gross profit margin of 80.44% and has shown revenue growth of 3.6% over the last twelve months.
The Call Report is publicly available on the FDIC’s website, offering transparency into the subsidiary’s financial performance. It is important to note that the information on the FDIC’s website is not incorporated by reference into Nelnet’s report, nor is it considered a part of this disclosure for regulatory purposes.
The filing of this document complies with Regulation FD, which aims to ensure that all investors have equal access to material financial information. Nelnet’s adherence to this regulation reinforces its commitment to fair disclosure practices.
Nelnet, headquartered in Lincoln, Nebraska, operates within the personal credit institutions sector and has a fiscal year-end on December 31. The company’s business address and principal executive offices are located at 121 South 13th Street, Suite 100, Lincoln, Nebraska.
This financial reporting event follows standard procedure and does not necessarily indicate any significant changes or developments within the company. Investors and stakeholders can access the Call Report for detailed financial information about Nelnet Bank’s performance in the last quarter of 2024. For comprehensive financial analysis and additional insights, including 7 more exclusive ProTips and detailed metrics, visit InvestingPro.
The information provided in this article is based on a press release statement and does not include any analysis or commentary on the reported facts.
In other recent news, Nelnet Inc. has been making significant strides in its financial operations. The company recently announced a quarterly cash dividend of $0.28 per share, continuing its 18-year streak of consistent dividend payments.
In addition, Nelnet disclosed its second-quarter 2024 earnings report, surpassing TD Cowen’s estimate with earnings per share of $1.44, a performance that prompted TD Cowen to upgrade Nelnet’s price target from $96.00 to $98.00 while maintaining a Hold rating.
Nelnet has also been active in strategic partnerships and investments. The company made a strategic equity investment in fintech firm Edge Focus, aiming to enhance its technology for underwriting and investing in consumer loans. Furthermore, Nelnet’s subsidiary, Nelnet Bank, submitted its Q3 financial report to the Federal Deposit Insurance Corporation (FDIC), adhering to federal reporting requirements.
In other developments, Boston Omaha Corporation has expanded its board with the appointment of a new director, Graff, who has previously contributed to Nelnet, Inc. His experience in business development and acquisitions is expected to support Boston Omaha’s strategic initiatives.
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