Pathward Financial (NASDAQ:CASH) Shares Gap Up on Better-Than-Expected Earnings

Pathward Financial, Inc. (NASDAQ:CASH) shares gapped up before the market opened on Thursday following a better than expected earnings announcement. 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 for the quarter, beating analysts’ consensus estimates of $2.37 by $0.19. The firm had revenue of $247.25 million during the quarter, compared to analysts’ expectations of $240.46 million. Pathward Financial had a return on equity of 24.97% and a net margin of 22.22%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $2.18 EPS.

Pathward Financial Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.20 annualized dividend and a yield of 0.38%. Pathward Financial’s dividend payout ratio (DPR) is 3.28%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Piper Sandler reduced 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 report on Thursday, January 25th. Keefe, Bruyette & Woods reduced their price objective on Pathward Financial from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, April 5th.

Insiders Place Their Bets

In other news, President Anthony M. Sharett sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were 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 of the company’s stock, valued at approximately $1,574,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Pathward Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kennicott Capital Management LLC acquired a new stake in shares of Pathward Financial during the fourth quarter worth $35,000. Carmel Capital Partners LLC acquired a new position in shares of Pathward Financial during the 3rd quarter worth about $36,000. Harvest Fund Management Co. Ltd increased its stake in shares of Pathward Financial by 170.9% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,696 shares of the savings and loans company’s stock valued at $78,000 after acquiring an additional 1,070 shares during the last quarter. Cottage Street Advisors LLC increased its stake in shares of Pathward Financial by 60.9% in the 4th quarter. Cottage Street Advisors LLC now owns 2,114 shares of the savings and loans company’s stock valued at $112,000 after acquiring an additional 800 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Pathward Financial by 24.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,535 shares of the savings and loans company’s stock valued at $134,000 after acquiring an additional 500 shares during the period. Institutional investors own 92.66% of the company’s stock.

Pathward Financial Stock Up 3.6 %

The company has a current ratio of 0.72, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.35 billion, a P/E ratio of 8.69 and a beta of 0.71. The firm’s 50 day moving average is $50.03 and its two-hundred day moving average is $50.09.

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.