Pathward Financial (NASDAQ:CASH) Releases FY24 Earnings Guidance

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

Pathward Financial Stock Performance

Shares of NASDAQ CASH traded down $0.73 during trading on Friday, reaching $52.19. 62,159 shares of the company traded hands, compared to its average volume of 178,121. The firm’s fifty day simple moving average is $50.03 and its 200 day simple moving average is $50.09. The stock has a market cap of $1.33 billion, a P/E ratio of 7.95 and a beta of 0.71. Pathward Financial has a 12-month low of $41.34 and a 12-month high of $60.49. The company has a current ratio of 0.72, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings data on Wednesday, April 24th. The savings and loans company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.19. Pathward Financial had a return on equity of 25.58% and a net margin of 22.90%. The company had revenue of $247.25 million for the quarter, compared to analysts’ expectations of $240.46 million. During the same period in the previous year, the firm posted $2.18 EPS. Pathward Financial’s revenue was up 8.2% compared to the same quarter last year. As a group, research analysts anticipate that Pathward Financial will post 6.32 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.38%. The ex-dividend date was Monday, March 11th. Pathward Financial’s payout ratio is 3.00%.

Analyst Ratings Changes

A number of research analysts have weighed in on CASH shares. Piper Sandler decreased their target price on shares of Pathward Financial from $69.00 to $68.00 and set an overweight rating on the stock in a research note 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 Pathward Financial 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 sale, the president now owns 33,146 shares of the company’s stock, valued at approximately $1,574,435. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

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.