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 guidance of $6.30-6.60 for the period, compared to the consensus earnings per share estimate of $6.32.

Pathward Financial Stock Performance

CASH traded up $0.34 during midday trading on Wednesday, reaching $51.09. The company had a trading volume of 130,639 shares, compared to its average volume of 179,122. 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 market cap of $1.30 billion, a PE ratio of 8.33 and a beta of 0.71. Pathward Financial has a 12-month low of $39.90 and a 12-month high of $60.49. The business has a 50-day moving average price of $50.01 and a two-hundred day moving average price of $50.06.

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 analysts’ consensus estimates of $1.23 by ($0.17). The company had revenue of $162.80 million during the quarter, compared to analysts’ expectations of $166.45 million. Pathward Financial had a net margin of 22.22% and a return on equity of 24.97%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 earnings per share. On average, sell-side analysts expect that Pathward Financial will post 6.32 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were given 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 dividend payout ratio (DPR) is currently 3.28%.

Wall Street Analyst Weigh In

CASH has been the topic of a number of analyst reports. 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 report 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 report on Friday, April 5th.

Insider Activity

In other Pathward Financial news, President Anthony M. Sharett sold 1,000 shares of the stock in a transaction 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 completion of the sale, the president now owns 33,146 shares of the company’s stock, valued at approximately $1,574,435. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by corporate insiders.

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.