Pathward Financial (NASDAQ:CASH) Issues Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Key Points

• Pathward Financial reported earnings of $1.81 EPS, exceeding analyst expectations by $0.17. The company also reported a net margin of 22.69%.
• The stock price of Pathward Financial rose by 0.1% to $80.27, with a market capitalization of $1.91 billion.
• Pathward Financial's quarterly dividend was disclosed at $0.05, with a current yield of 0.25% and a low dividend payout ratio of 2.70%.

Pathward Financial (NASDAQ:CASH - Get Free Report) announced its earnings results on Monday. The savings and loans company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.57 by $0.24, Zacks reports. The business had revenue of $195.80 million for the quarter, compared to analysts' expectations of $184.80 million. Pathward Financial had a return on equity of 22.50% and a net margin of 22.69%. The firm's revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 earnings per share.

Pathward Financial Stock Performance

NASDAQ CASH opened at $80.27 on Tuesday. Pathward Financial has a 1 year low of $60.42 and a 1 year high of $86.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76. The stock has a market capitalization of $1.91 billion, a PE ratio of 10.83 and a beta of 0.62. The company's 50 day simple moving average is $78.87 and its two-hundred day simple moving average is $77.17.

Pathward Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.25%. The ex-dividend date was Friday, June 13th. Pathward Financial's dividend payout ratio is presently 2.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Revolve Wealth Partners LLC purchased a new position in shares of Pathward Financial during the fourth quarter worth about $267,437,000. Millennium Management LLC boosted its stake in Pathward Financial by 264.1% in the first quarter. Millennium Management LLC now owns 128,645 shares of the savings and loans company's stock worth $9,385,000 after buying an additional 93,308 shares in the last quarter. AQR Capital Management LLC boosted its stake in Pathward Financial by 61.3% in the first quarter. AQR Capital Management LLC now owns 9,152 shares of the savings and loans company's stock worth $668,000 after buying an additional 3,479 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Pathward Financial by 21.2% in the first quarter. Royal Bank of Canada now owns 5,057 shares of the savings and loans company's stock worth $369,000 after buying an additional 886 shares in the last quarter. Hedge funds and other institutional investors own 92.66% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CASH shares. Piper Sandler increased their price target on Pathward Financial from $91.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods increased their target price on Pathward Financial from $86.00 to $88.00 and gave the stock a "market perform" rating in a report on Friday, July 11th.

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.