Pathward Financial (NASDAQ:CASH) Posts Quarterly Earnings Results, Misses Expectations By $0.58 EPS

Pathward Financial (NASDAQ:CASH) released its quarterly earnings results on Wednesday. The savings and loans company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.58), FiscalAI reports. The firm had revenue of $189.64 million for the quarter, compared to analysts’ expectations of $191.18 million. Pathward Financial had a return on equity of 22.35% and a net margin of 22.42%.

Pathward Financial Trading Up 0.1%

Pathward Financial stock traded up $0.07 during trading hours on Wednesday, hitting $88.67. The company had a trading volume of 220,426 shares, compared to its average volume of 241,125. The firm has a market cap of $1.87 billion, a P/E ratio of 10.53 and a beta of 0.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.80 and a current ratio of 0.81. Pathward Financial has a 1 year low of $65.87 and a 1 year high of $101.26. The company has a 50-day moving average price of $84.68 and a two-hundred day moving average price of $86.93.

Pathward Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Thursday, June 11th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.20 dividend on an annualized basis and a yield of 0.2%. Pathward Financial’s dividend payout ratio (DPR) is presently 2.38%.

Insider Buying and Selling

In other news, Director Douglas J. Hajek sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $86.37, for a total transaction of $431,850.00. Following the transaction, the director directly owned 12,281 shares of the company’s stock, valued at approximately $1,060,709.97. This trade represents a 28.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Elizabeth G. Hoople sold 4,500 shares of Pathward Financial stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $82.29, for a total transaction of $370,305.00. Following the sale, the director directly owned 28,050 shares of the company’s stock, valued at $2,308,234.50. This represents a 13.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Pathward Financial

A number of institutional investors and hedge funds have recently bought and sold shares of CASH. EverSource Wealth Advisors LLC lifted its holdings in shares of Pathward Financial by 43,200.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 433 shares of the savings and loans company’s stock worth $34,000 after buying an additional 432 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Pathward Financial by 23.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 630 shares of the savings and loans company’s stock valued at $45,000 after buying an additional 118 shares during the period. State of Wyoming bought a new stake in shares of Pathward Financial in the second quarter valued at about $46,000. Kestra Advisory Services LLC purchased a new stake in Pathward Financial in the fourth quarter worth about $88,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in Pathward Financial by 9.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,030 shares of the savings and loans company’s stock worth $215,000 after acquiring an additional 250 shares during the period. 92.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Pathward Financial from $100.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Pathward Financial in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $107.50.

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.