Pathward Financial (NASDAQ:CASH) Shares Gap Up Following Earnings Beat

Pathward Financial, Inc. (NASDAQ:CASH) shares gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $51.09, but opened at $53.36. Pathward Financial shares last traded at $53.12, with a volume of 45,028 shares trading hands.

The savings and loans company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.19. Pathward Financial had a net margin of 22.90% and a return on equity of 25.58%. The firm had revenue of $247.25 million for the quarter, compared to the consensus estimate of $240.46 million. During the same period in the previous year, the firm posted $2.18 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis.

Pathward Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Pathward Financial from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, April 5th. Piper Sandler decreased their target price 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.

Insiders Place Their Bets

In other Pathward Financial news, President Anthony M. Sharett sold 1,000 shares of the business’s 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 completion of the sale, the president now directly owns 33,146 shares of the company’s stock, valued at $1,574,435. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

Institutional Trading of Pathward Financial

A number of institutional investors and hedge funds have recently modified their holdings of CASH. Kennicott Capital Management LLC acquired a new stake in shares of Pathward Financial in the fourth quarter worth $35,000. Carmel Capital Partners LLC acquired a new stake in shares of Pathward Financial in the third quarter worth $36,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Pathward Financial by 170.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,696 shares of the savings and loans company’s stock worth $78,000 after buying an additional 1,070 shares during the last quarter. Cottage Street Advisors LLC lifted its stake in shares of Pathward Financial by 60.9% in the fourth quarter. Cottage Street Advisors LLC now owns 2,114 shares of the savings and loans company’s stock worth $112,000 after buying an additional 800 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Pathward Financial by 24.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,535 shares of the savings and loans company’s stock worth $134,000 after buying an additional 500 shares during the last quarter. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Pathward Financial Price Performance

The stock’s 50 day moving average price is $50.04 and its two-hundred day moving average price is $50.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.72 and a quick ratio of 0.71. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 7.83 and a beta of 0.71.

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.