Pathward Financial (NASDAQ:CASH) Releases 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 also updated its FY 2023 guidance to 6.300-6.600 EPS.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CASH shares. Keefe, Bruyette & Woods cut their price objective on Pathward Financial from $60.00 to $58.00 and set a market perform rating for the company in a research report on Friday, April 5th. Piper Sandler reduced their price objective on Pathward Financial from $69.00 to $68.00 and set an overweight rating on the stock in a research note on Thursday, January 25th.

Pathward Financial Price Performance

Shares of NASDAQ:CASH traded up $0.34 on Wednesday, reaching $51.09. The company’s stock had a trading volume of 130,640 shares, compared to its average volume of 179,122. The company has a 50-day simple moving average of $50.01 and a 200 day simple moving average of $50.06. 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 company has a market cap of $1.30 billion, a P/E ratio of 8.39 and a beta of 0.71. Pathward Financial has a 52-week low of $39.90 and a 52-week high of $60.49.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings results on Wednesday, January 24th. The savings and loans company reported $1.06 EPS for the quarter, missing the consensus estimate 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 return on equity of 24.97% and a net margin of 22.22%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.81 EPS. As a group, equities research analysts anticipate that Pathward Financial will post 6.32 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

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

Insider Buying and Selling

In related news, President Anthony M. Sharett sold 1,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $47.50, for a total transaction of $47,500.00. Following the transaction, the president now directly owns 33,146 shares in the company, valued at approximately $1,574,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.