Pathward Financial (NASDAQ:CASH) Posts Earnings Results, Beats Expectations By $0.19 EPS

Pathward Financial (NASDAQ:CASH) posted its earnings results on Wednesday. The savings and loans company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.37 by $0.19, Briefing.com reports. The business had revenue of $247.25 million during the quarter, compared to analysts’ expectations of $240.46 million. Pathward Financial had a return on equity of 24.97% and a net margin of 22.22%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business 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 Up 5.0 %

Shares of NASDAQ CASH traded up $2.53 during trading on Thursday, reaching $53.62. The company had a trading volume of 71,948 shares, compared to its average volume of 177,733. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.37 billion, a PE ratio of 8.82 and a beta of 0.71. Pathward Financial has a 12-month low of $40.15 and a 12-month high of $60.49. The business’s 50-day moving average is $50.00 and its 200 day moving average is $50.07.

Pathward Financial Announces Dividend

The business also recently declared 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 of this dividend was Monday, March 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.37%. Pathward Financial’s payout ratio is currently 3.28%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CASH. Piper Sandler dropped their target price on Pathward Financial from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. Keefe, Bruyette & Woods decreased 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 Activity

In other news, President Anthony M. Sharett sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $47.50, for a total transaction of $47,500.00. Following the completion of the transaction, the president now directly owns 33,146 shares of the company’s stock, valued at $1,574,435. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

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.