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

Pathward Financial, Inc. (NASDAQ:CASH) gapped up prior to trading 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.

The savings and loans company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.19. The company had revenue of $247.25 million for 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%. Pathward Financial’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.18 earnings per share.

Pathward Financial Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods decreased their target price on 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. Piper Sandler cut their price objective on Pathward Financial from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Thursday, January 25th.

Insider Transactions at Pathward Financial

In related news, President Anthony M. Sharett sold 1,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $47.50, for a total transaction of $47,500.00. Following the completion of the sale, the president now directly owns 33,146 shares in the company, valued at approximately $1,574,435. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in Pathward Financial by 232.7% in the first quarter. Assenagon Asset Management S.A. now owns 73,351 shares of the savings and loans company’s stock valued at $3,703,000 after acquiring an additional 51,304 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Pathward Financial by 11.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,498 shares of the savings and loans company’s stock valued at $278,000 after buying an additional 556 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Pathward Financial by 4.1% during the 1st quarter. Diversified Trust Co now owns 7,777 shares of the savings and loans company’s stock valued at $393,000 after buying an additional 305 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Pathward Financial during the 1st quarter valued at $17,819,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Pathward Financial by 4.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,583,602 shares of the savings and loans company’s stock valued at $83,820,000 after buying an additional 69,374 shares in the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.

Pathward Financial Trading Up 4.0 %

The company has a market cap of $1.35 billion, a P/E ratio of 8.39 and a beta of 0.71. The stock’s 50 day moving average is $50.00 and its 200-day moving average is $50.07. The company has a current ratio of 0.72, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05.

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.