Pathward Financial (NASDAQ:CASH) Issues Earnings Results

Pathward Financial (NASDAQ:CASH) posted its earnings results on Wednesday. The savings and loans company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.19, Briefing.com reports. Pathward Financial had a net margin of 22.22% and a return on equity of 24.97%. The firm had revenue of $247.25 million for the quarter, compared to analyst estimates of $240.46 million. During the same period in the previous year, the firm posted $2.18 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Pathward Financial updated its FY24 guidance to $6.30-6.60 EPS and its FY 2023 guidance to 6.300-6.600 EPS.

Pathward Financial Stock Up 4.3 %

Shares of CASH stock traded up $2.20 on Thursday, hitting $53.29. The stock had a trading volume of 78,520 shares, compared to its average volume of 177,823. The business has a 50 day moving average of $50.00 and a 200 day moving average of $50.07. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 8.82 and a beta of 0.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.72 and a quick ratio of 0.71. Pathward Financial has a 12-month low of $40.15 and a 12-month high of $60.49.

Pathward Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were issued a $0.05 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.38%. Pathward Financial’s dividend payout ratio is currently 3.28%.

Insider Activity at Pathward Financial

In related news, President Anthony M. Sharett sold 1,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $47.50, for a total transaction of $47,500.00. Following the completion of the transaction, the president now owns 33,146 shares in the company, valued at $1,574,435. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CASH. Piper Sandler reduced their price objective on shares of Pathward Financial from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. Keefe, Bruyette & Woods lowered their price objective on shares of Pathward Financial from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, April 5th.

About Pathward Financial

Pathward Financial, Inc operates as the bank holding company for Pathward, National Association that provides various banking products and services in the United States. The company operates through three segments: Consumer, Commercial, and Corporate Services/Other. It offers demand deposit accounts, savings accounts, and money market savings accounts.