Pathward Financial (NASDAQ:CASH) Shares Gap Up on Strong Earnings

Pathward Financial, Inc. (NASDAQ:CASH)’s stock price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. 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.

The savings and loans company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.19. Pathward Financial had a return on equity of 24.97% and a net margin of 22.22%. The company 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 business earned $2.18 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year.

Pathward Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Monday, March 11th. Pathward Financial’s payout ratio is 3.28%.

Wall Street Analyst Weigh In

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

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 stock was sold at an average price of $47.50, for a total value of $47,500.00. Following the transaction, the president now owns 33,146 shares in the company, valued at $1,574,435. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Pathward Financial during the third quarter worth about $766,000. Adirondack Retirement Specialists Inc. increased its holdings in Pathward Financial by 3.3% during the 3rd quarter. Adirondack Retirement Specialists Inc. now owns 339,709 shares of the savings and loans company’s stock worth $15,657,000 after purchasing an additional 10,908 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in shares of Pathward Financial by 19.5% in the third quarter. Clear Harbor Asset Management LLC now owns 11,344 shares of the savings and loans company’s stock worth $523,000 after purchasing an additional 1,855 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Pathward Financial by 530.8% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 16,572 shares of the savings and loans company’s stock valued at $764,000 after purchasing an additional 13,945 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Pathward Financial by 105.0% during the third quarter. TD Asset Management Inc now owns 12,300 shares of the savings and loans company’s stock valued at $567,000 after buying an additional 6,300 shares during the last quarter. Institutional investors and hedge funds own 92.66% of the company’s stock.

Pathward Financial Price Performance

The firm has a market cap of $1.35 billion, a P/E ratio of 8.69 and a beta of 0.71. The company has a fifty day moving average of $50.03 and a 200-day moving average of $50.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.72 and a quick ratio of 0.71.

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.