Pathward Financial (NASDAQ:CASH) Issues Earnings Results

Pathward Financial (NASDAQ:CASH - Get Free Report) posted its quarterly earnings data on Wednesday. The savings and loans company reported $2.56 EPS for the quarter, topping analysts' consensus estimates of $2.37 by $0.19, Briefing.com reports. The company had revenue of $247.25 million during the quarter, compared to the consensus estimate of $240.46 million. Pathward Financial had a net margin of 22.22% and a return on equity of 24.97%. The company's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.18 EPS. 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 Performance

Pathward Financial stock traded up $1.83 during midday trading on Thursday, reaching $52.92. 219,128 shares of the company's stock were exchanged, compared to its average volume of 179,623. The stock's 50-day simple moving average is $50.03 and its 200 day simple moving average is $50.09. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 8.69 and a beta of 0.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.71 and a current ratio of 0.72. Pathward Financial has a 52 week low of $40.15 and a 52 week high of $60.49.

Pathward Financial Dividend Announcement

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

Insider Buying and Selling at Pathward Financial

In other Pathward Financial news, President Anthony M. Sharett sold 1,000 shares of the firm's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $47.50, for a total transaction of $47,500.00. Following the completion of the sale, the president now owns 33,146 shares of the company's stock, valued at approximately $1,574,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on CASH shares. Piper Sandler reduced their price target on Pathward Financial from $69.00 to $68.00 and set an "overweight" rating for the company in a research report on Thursday, January 25th. Keefe, Bruyette & Woods cut their price objective on Pathward Financial from $60.00 to $58.00 and set a "market perform" rating for the company in a report on Friday, April 5th.

Pathward Financial Company Profile

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.