Pathward Financial (NASDAQ:CASH) Updates FY24 Earnings Guidance

Pathward Financial (NASDAQ:CASH) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $6.30-6.60 for the period, compared to the consensus earnings per share estimate of $6.32. Pathward Financial also updated its FY 2023 guidance to 6.300-6.600 EPS.

Pathward Financial Price Performance

NASDAQ:CASH traded up $1.95 during mid-day trading on Thursday, hitting $53.04. 88,988 shares of the company’s stock traded hands, compared to its average volume of 177,968. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.71 and a current ratio of 0.72. The firm’s 50 day simple moving average is $50.00 and its 200 day simple moving average is $50.07. Pathward Financial has a 1 year low of $40.15 and a 1 year high of $60.49. The company has a market cap of $1.35 billion, a PE ratio of 8.82 and a beta of 0.71.

Pathward Financial (NASDAQ:CASH) last posted its earnings results on Wednesday, April 24th. The savings and loans company reported $2.56 earnings per share for the quarter, beating 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 firm had revenue of $247.25 million during the quarter, compared to the consensus estimate of $240.46 million. During the same period last year, the firm posted $2.18 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts expect that Pathward Financial will post 6.32 EPS for the current year.

Pathward Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, March 11th. This represents a $0.20 annualized dividend and a yield of 0.38%. Pathward Financial’s dividend payout ratio (DPR) is currently 3.28%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CASH shares. Piper Sandler dropped their target price on shares of 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 lowered their price target on shares of Pathward Financial from $60.00 to $58.00 and set a market perform rating for the company in a report on Friday, April 5th.

Insider Activity at Pathward Financial

In related 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 value of $47,500.00. Following the completion of the sale, the president now directly owns 33,146 shares in the company, valued at $1,574,435. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.72% of the stock is owned by insiders.

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.