Pathward Financial (NASDAQ:CASH) Issues FY24 Earnings Guidance

Pathward Financial (NASDAQ:CASH) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $6.30-6.60 for the period, compared to the consensus earnings per share estimate of $6.32. Pathward Financial also updated its FY 2023 guidance to 6.300-6.600 EPS.

Pathward Financial Trading Down 1.5 %

NASDAQ:CASH traded down $0.78 during midday trading on Friday, reaching $52.14. 148,987 shares of the stock traded hands, compared to its average volume of 136,266. The company has a fifty day moving average of $50.04 and a 200 day moving average of $50.11. Pathward Financial has a 12 month low of $41.34 and a 12 month high of $60.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $1.33 billion, a P/E ratio of 7.83 and a beta of 0.71.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings results on Wednesday, April 24th. The savings and loans company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.19. Pathward Financial had a net margin of 22.90% and a return on equity of 25.09%. The company had revenue of $247.25 million during the quarter, compared to analyst estimates of $240.46 million. During the same period in the prior year, the business posted $2.18 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, research analysts predict that Pathward Financial will post 6.43 EPS for the current year.

Pathward Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Monday, March 11th. Pathward Financial’s payout ratio is currently 3.00%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Pathward Financial from $69.00 to $68.00 and set an overweight rating on the stock in a research report on Thursday, January 25th. Keefe, Bruyette & Woods cut 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 research report on Friday, April 5th.

Insider Buying and Selling

In related news, President Anthony M. Sharett sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $47.50, for a total value of $47,500.00. Following the transaction, the president now owns 33,146 shares of the company’s stock, valued at $1,574,435. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

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.