Jack Henry (JKHY) Expands Customer Base With Quail Creek Bank

Core Insights - Jack Henry's (JKHY) shares have increased by 2.9% year-to-date, contrasting with a 6.6% decline in the industry, driven by a growing clientele and strong banking solutions [1] Customer Expansion - Jack Henry has recently added Forest Park Bank to its clientele, which will utilize the Banno Digital Platform, contactless cards, and digital wallets to cater to younger customers [3] - Quail Creek Bank has selected Jack Henry to leverage its banking solutions, including real-time payments and digital account opening [2][11] - United Bank has chosen Jack Henry as its technology provider to enhance its lending capabilities and reporting for small and retail business customers [4] - First State Bank has partnered with Jack Henry to utilize its core processing solution and Banno Digital Platform for improved efficiencies [14] Banking Solutions Strength - Jack Henry's robust banking solutions portfolio is a key driver of its customer momentum, with ongoing efforts to strengthen this portfolio [5] - The Banno Business solution is designed to provide modern banking experiences for small-to-medium businesses [6] - A new Daily Dashboard has been introduced for the Financial Performance Suite, offering financial insights to help institutions analyze their financial health [15] Financial Performance Expectations - For fiscal 2024, Jack Henry anticipates GAAP revenues between $2.215 billion and$2.228 billion, with a year-over-year growth estimate of 6.8% [7] - The earnings guidance for fiscal 2024 has been raised to a range of $5.15 to$5.19 per share, indicating a 3.4% increase from the previous year [17]