Pathward Financial (NASDAQ:CASH) Issues Earnings Results

Key Points

• Pathward Financial reported quarterly earnings of $1.37 per share, missing the consensus estimate of $1.95 by $0.58. Revenue also came in slightly below expectations at $189.64 million versus the $191.18 million forecast.
• The stock traded around $88.67 after the report, with a market cap of $1.87 billion and a low-debt balance sheet. It has a 52-week range of $65.87 to $101.26 and currently sports a P/E ratio of 10.53.
• Pathward also recently paid a quarterly dividend of $0.05 per share, while analysts remain broadly positive with a Buy consensus and an average target price of $107.50.

Pathward Financial (NASDAQ:CASH - Get Free Report) issued its quarterly earnings results on Wednesday. The savings and loans company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.58), FiscalAI reports. The firm had revenue of $189.64 million for the quarter, compared to analysts' expectations of $191.18 million. Pathward Financial had a net margin of 22.42% and a return on equity of 22.35%.

Pathward Financial Price Performance

Shares of NASDAQ CASH traded up $0.07 during midday trading on Wednesday, reaching $88.67. 220,426 shares of the stock traded hands, compared to its average volume of 241,125. The company's 50 day moving average is $84.68 and its 200 day moving average is $86.93. Pathward Financial has a one year low of $65.87 and a one year high of $101.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market capitalization of $1.87 billion, a PE ratio of 10.53 and a beta of 0.60.

Pathward Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, June 11th. Pathward Financial's dividend payout ratio is 2.38%.

Insiders Place Their Bets

In other news, Director Elizabeth G. Hoople sold 4,500 shares of the business's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $82.29, for a total value of $370,305.00. Following the sale, the director directly owned 28,050 shares in the company, valued at $2,308,234.50. The trade was a 13.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Douglas J. Hajek sold 5,000 shares of the company's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $86.37, for a total transaction of $431,850.00. Following the sale, the director owned 12,281 shares in the company, valued at $1,060,709.97. This represents a 28.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Seros Financial LLC purchased a new stake in Pathward Financial during the third quarter valued at approximately $481,003,000. Revolve Wealth Partners LLC bought a new position in shares of Pathward Financial during the 4th quarter valued at approximately $267,437,000. Goldman Sachs Group Inc. increased its position in shares of Pathward Financial by 30.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 247,832 shares of the savings and loans company's stock valued at $17,596,000 after purchasing an additional 58,510 shares during the last quarter. Invesco Ltd. raised its holdings in Pathward Financial by 2.9% during the 4th quarter. Invesco Ltd. now owns 215,833 shares of the savings and loans company's stock valued at $15,324,000 after buying an additional 6,162 shares during the period. Finally, Millennium Management LLC lifted its position in Pathward Financial by 181.6% in the fourth quarter. Millennium Management LLC now owns 204,437 shares of the savings and loans company's stock worth $14,515,000 after buying an additional 131,847 shares during the last quarter. Hedge funds and other institutional investors own 92.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CASH shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pathward Financial in a report on Friday, May 8th. Keefe, Bruyette & Woods raised their price target on Pathward Financial from $100.00 to $108.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, Pathward Financial has a consensus rating of "Buy" and an average target price of $107.50.

Pathward Financial Company Profile

Pathward Financial NASDAQ: CASH is a U.S.-based financial services company that operates through its wholly owned subsidiary, Pathward Bank. The company provides a range of banking and payment solutions designed for consumers, small businesses, community banks and fintech partners. Core offerings include deposit accounts, consumer and commercial lending, debit and prepaid card programs, digital banking platforms and treasury management services.

Through its banking charter, Pathward Financial delivers customizable payment solutions, including prepaid cards, payroll cards and benefit disbursement programs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.