Pathward Financial (NASDAQ:CASH) Announces Earnings Results, Beats Estimates By $0.19 EPS

Pathward Financial (NASDAQ:CASH) posted its quarterly earnings results 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 business had revenue of $247.25 million during the quarter, compared to the consensus estimate of $240.46 million. Pathward Financial had a return on equity of 25.09% and a net margin of 22.90%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $2.18 earnings per share. 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

CASH stock traded down $0.78 during midday trading on Friday, reaching $52.14. The company had a trading volume of 148,987 shares, compared to its average volume of 136,266. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $50.04 and a 200 day moving average price of $50.11. Pathward Financial has a fifty-two week low of $41.34 and a fifty-two week high of $60.49. The firm has a market capitalization of $1.33 billion, a PE ratio of 7.83 and a beta of 0.71.

Pathward Financial Announces Dividend

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

Insider Buying and Selling at Pathward Financial

In other news, President Anthony M. Sharett sold 1,000 shares of Pathward Financial stock in a transaction that occurred 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 sale, the president now owns 33,146 shares of the company’s stock, valued at $1,574,435. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CASH. Keefe, Bruyette & Woods decreased their price target on Pathward Financial from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Friday, April 5th. Piper Sandler decreased their target price on Pathward Financial from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th.

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.