Pathward Financial (NASDAQ:CASH) Issues 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.

Analysts Set New Price Targets

Several research firms have commented on CASH. Piper Sandler lowered their target price on shares of Pathward Financial from $69.00 to $68.00 and set an overweight rating on the stock in a research note on Thursday, January 25th. Keefe, Bruyette & Woods lowered 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 research note on Friday, April 5th.

Pathward Financial Price Performance

Shares of NASDAQ:CASH traded down $0.78 during trading hours on Friday, hitting $52.14. 148,987 shares of the company’s stock traded hands, compared to its average volume of 136,266. Pathward Financial has a 52 week low of $41.34 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 0.71. The company’s fifty day simple moving average is $50.04 and its two-hundred day simple moving average is $50.11. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 7.83 and a beta of 0.71.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings data on Wednesday, April 24th. The savings and loans company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.19. Pathward Financial had a net margin of 22.90% and a return on equity of 25.09%. The company had revenue of $247.25 million during the quarter, compared to analyst estimates of $240.46 million. During the same quarter last year, the firm posted $2.18 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities analysts anticipate that Pathward Financial will post 6.43 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Monday, March 11th. Pathward Financial’s payout ratio is 3.00%.

Insider Transactions at Pathward Financial

In related 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 transaction of $47,500.00. Following the transaction, the president now directly owns 33,146 shares of the company’s stock, valued at $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 currently owned by 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.