Pathward Financial (NASDAQ:CASH) Shares Gap Up After Better-Than-Expected Earnings

Pathward Financial, Inc. (NASDAQ:CASH - Get Free Report) shares gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $51.09, but opened at $53.36. Pathward Financial shares last traded at $53.12, with a volume of 45,028 shares changing hands.

The savings and loans company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.19. Pathward Financial had a net margin of 22.22% and a return on equity of 24.97%. The company had revenue of $247.25 million for the quarter, compared to analysts' expectations of $240.46 million. During the same quarter last year, the company posted $2.18 earnings per share. The firm's quarterly revenue was up 8.2% on a year-over-year basis.

Pathward Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Monday, March 11th. Pathward Financial's dividend payout ratio is presently 3.28%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Piper Sandler dropped their price target 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 target price on shares of Pathward Financial from $60.00 to $58.00 and set a "market perform" rating on the stock in a research note on Friday, April 5th.

Insider Transactions at Pathward Financial

In other Pathward Financial news, President Anthony M. Sharett sold 1,000 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $47.50, for a total value of $47,500.00. Following the completion of the sale, the president now directly owns 33,146 shares of the company's stock, valued at approximately $1,574,435. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.72% of the company's stock.

Institutional Investors Weigh In On Pathward Financial

Several institutional investors have recently bought and sold shares of CASH. Charles Schwab Investment Management Inc. raised its holdings in shares of Pathward Financial by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 303,798 shares of the savings and loans company's stock worth $14,002,000 after buying an additional 3,733 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Pathward Financial during the third quarter worth $968,000. Stifel Financial Corp raised its holdings in shares of Pathward Financial by 981.5% during the third quarter. Stifel Financial Corp now owns 98,040 shares of the savings and loans company's stock worth $4,519,000 after purchasing an additional 88,975 shares during the last quarter. Vinva Investment Management Ltd raised its holdings in shares of Pathward Financial by 1.4% during the third quarter. Vinva Investment Management Ltd now owns 70,819 shares of the savings and loans company's stock worth $3,264,000 after purchasing an additional 953 shares during the last quarter. Finally, Moody Aldrich Partners LLC purchased a new position in shares of Pathward Financial during the third quarter worth $4,157,000. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Pathward Financial Trading Up 3.6 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.72 and a quick ratio of 0.71. The company's fifty day moving average is $50.03 and its 200-day moving average is $50.09. The stock has a market cap of $1.35 billion, a PE ratio of 8.69 and a beta of 0.71.

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.