Pathward Financial (NASDAQ:CASH) Announces Earnings Results

Pathward Financial (NASDAQ:CASH) announced its quarterly earnings data on Thursday. The savings and loans company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.29, FiscalAI reports. Pathward Financial had a return on equity of 22.97% and a net margin of 22.45%.The business had revenue of $173.10 million during the quarter, compared to analysts’ expectations of $185.80 million.

Pathward Financial Stock Up 3.4%

CASH stock traded up $2.62 during midday trading on Thursday, reaching $79.87. 301,143 shares of the company were exchanged, compared to its average volume of 212,607. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 10.11 and a beta of 0.74. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.79. Pathward Financial has a 1-year low of $64.45 and a 1-year high of $86.00. The stock’s 50-day simple moving average is $72.83 and its 200 day simple moving average is $74.59.

Pathward Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Wednesday, December 10th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, December 10th. Pathward Financial’s dividend payout ratio is currently 2.53%.

Insider Activity

In other Pathward Financial news, President Anthony M. Sharett sold 11,500 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $71.55, for a total value of $822,825.00. Following the completion of the transaction, the president owned 25,155 shares in the company, valued at $1,799,840.25. This represents a 31.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Douglas J. Hajek sold 3,000 shares of Pathward Financial stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $68.11, for a total value of $204,330.00. Following the sale, the director owned 16,631 shares in the company, valued at $1,132,737.41. This trade represents a 15.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 19,500 shares of company stock worth $1,384,455. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in Pathward Financial by 43,200.0% during the second quarter. EverSource Wealth Advisors LLC now owns 433 shares of the savings and loans company’s stock worth $34,000 after purchasing an additional 432 shares in the last quarter. State of Wyoming purchased a new position in shares of Pathward Financial during the 2nd quarter worth approximately $46,000. Brevan Howard Capital Management LP purchased a new position in shares of Pathward Financial during the 3rd quarter worth approximately $220,000. Tower Research Capital LLC TRC lifted its holdings in shares of Pathward Financial by 344.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,868 shares of the savings and loans company’s stock valued at $306,000 after buying an additional 2,998 shares during the period. Finally, Freestone Grove Partners LP purchased a new stake in shares of Pathward Financial in the third quarter valued at approximately $320,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Pathward Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Pathward Financial currently has an average rating of “Hold” and an average target price of $91.00.

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.