Pathward Financial (NASDAQ:CASH) Updates FY24 Earnings Guidance

Pathward Financial (NASDAQ:CASH) updated its FY24 earnings guidance on Wednesday. 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 Trading Up 0.7 %

Shares of CASH traded up $0.34 during midday trading on Wednesday, hitting $51.09. 130,640 shares of the stock were exchanged, compared to its average volume of 179,122. Pathward Financial has a 52-week low of $39.90 and a 52-week high of $60.49. 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 stock has a fifty day simple moving average of $50.01 and a 200 day simple moving average of $50.06. The firm has a market cap of $1.30 billion, a P/E ratio of 8.39 and a beta of 0.71.

Pathward Financial (NASDAQ:CASH) last released its earnings results on Wednesday, January 24th. The savings and loans company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.17). The firm had revenue of $162.80 million during the quarter, compared to analyst estimates of $166.45 million. Pathward Financial had a net margin of 22.22% and a return on equity of 24.97%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. On average, research analysts anticipate that Pathward Financial will post 6.32 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Monday, March 11th. Pathward Financial’s payout ratio is 3.28%.

Analyst Upgrades and Downgrades

CASH has been the subject of several recent research reports. Piper Sandler decreased their price target on shares of Pathward Financial from $69.00 to $68.00 and set an overweight rating for the company in a research report on Thursday, January 25th. Keefe, Bruyette & Woods reduced their price objective on 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 Buying and Selling

In other Pathward Financial news, President Anthony M. Sharett sold 1,000 shares of the 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 sale, the president now directly owns 33,146 shares of the company’s stock, valued at approximately $1,574,435. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

Pathward Financial Company Profile

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.