Pathward Financial (CASH) Set to Announce Earnings on Wednesday

Pathward Financial (NASDAQ:CASH) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Pathward Financial to post earnings of $2.37 per share for the quarter. Pathward Financial has set its FY24 guidance at $6.20-6.70 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Pathward Financial (NASDAQ:CASH) last announced its earnings results on Wednesday, January 24th. The savings and loans company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.17). Pathward Financial had a net margin of 22.22% and a return on equity of 24.97%. The firm had revenue of $162.80 million for the quarter, compared to analyst estimates of $166.45 million. During the same period in the previous year, the company earned $0.81 EPS. Pathward Financial’s revenue was up 8.7% compared to the same quarter last year. On average, analysts expect Pathward Financial to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Pathward Financial Price Performance

Shares of Pathward Financial stock opened at $48.53 on Wednesday. The business has a 50 day simple moving average of $50.13 and a two-hundred day simple moving average of $49.96. Pathward Financial has a 12 month low of $39.90 and a 12 month high of $60.49. The stock has a market capitalization of $1.24 billion, a P/E ratio of 7.97 and a beta of 0.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.72 and a quick ratio of 0.71.

Pathward Financial Announces Dividend

The company 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 of this dividend was Monday, March 11th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.41%. Pathward Financial’s payout ratio is currently 3.28%.

Insider Activity at Pathward Financial

In related news, President Anthony M. Sharett sold 1,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was 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 owns 33,146 shares of the company’s stock, valued at $1,574,435. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Pathward Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Advisors LLC purchased a new position in shares of Pathward Financial during the second quarter worth $81,000. JPMorgan Chase & Co. boosted its position in shares of Pathward Financial by 619.8% during the second quarter. JPMorgan Chase & Co. now owns 325,905 shares of the savings and loans company’s stock worth $15,109,000 after buying an additional 280,627 shares during the period. State Street Corp boosted its position in shares of Pathward Financial by 9.1% during the first quarter. State Street Corp now owns 1,619,290 shares of the savings and loans company’s stock worth $89,010,000 after buying an additional 134,591 shares during the period. Deutsche Bank AG boosted its position in shares of Pathward Financial by 191.9% during the first quarter. Deutsche Bank AG now owns 132,923 shares of the savings and loans company’s stock worth $5,515,000 after buying an additional 87,387 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of Pathward Financial by 243.3% during the third quarter. Thrivent Financial for Lutherans now owns 110,013 shares of the savings and loans company’s stock worth $3,626,000 after buying an additional 77,966 shares during the period. Institutional investors and hedge funds own 92.66% of the company’s stock.

Analyst Ratings Changes

CASH has been the subject of several recent research reports. Keefe, Bruyette & Woods cut their price target on Pathward Financial from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, April 5th. Piper Sandler cut their price target on Pathward Financial from $69.00 to $68.00 and set an “overweight” rating for the company in a report 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.