PagSeguro founder steps down as chairman; company sees mixed financial results but remains attractively valued.

PagSeguro Digital Ltd.'s founder Luis Frias has stepped down as chairman but control remains with UOL and Frias. The company experienced a return to growth in payment volume and a surge in banking revenue, though payments revenue declined and credit losses rose due to a riskier credit mix. Gross profit growth is below full-year guidance, with management expecting to be near the lower end of the 6–9% growth range. Despite rising non-performing loans and competitive pressures, the stock is considered attractively valued at 5 times 2026 earnings and a 13.4% shareholder yield, maintaining a Buy rating.