Pathward Financial (NASDAQ:CASH) Shares Up 6.1% on Earnings Beat

Pathward Financial, Inc. (NASDAQ:CASH) shares shot up 6.1% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $69.00 and last traded at $68.69. 28,138 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 177,264 shares. The stock had previously closed at $64.73.

The savings and loans company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.16. Pathward Financial had a return on equity of 25.09% and a net margin of 22.90%. The company had revenue of $176.73 million during the quarter, compared to analyst estimates of $176.63 million. During the same quarter last year, the company earned $1.76 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis.

Pathward Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Tuesday, June 11th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Tuesday, June 11th. Pathward Financial’s dividend payout ratio (DPR) is presently 3.00%.

Analyst Ratings Changes

A number of research firms recently weighed in on CASH. Keefe, Bruyette & Woods raised their price objective on Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a research report on Thursday. Piper Sandler increased their price objective on Pathward Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday.

Insider Activity at Pathward Financial

In other Pathward Financial news, Director Kendall E. Stork sold 2,000 shares of Pathward Financial stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $53.53, for a total value of $107,060.00. Following the completion of the sale, the director now owns 11,213 shares of the company’s stock, valued at approximately $600,231.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Pathward Financial

Several institutional investors have recently made changes to their positions in CASH. Cottage Street Advisors LLC increased its holdings in Pathward Financial by 60.9% during the fourth quarter. Cottage Street Advisors LLC now owns 2,114 shares of the savings and loans company’s stock valued at $112,000 after buying an additional 800 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Pathward Financial by 70.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 5,646 shares of the savings and loans company’s stock worth $303,000 after purchasing an additional 2,330 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Pathward Financial by 24.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,535 shares of the savings and loans company’s stock valued at $134,000 after purchasing an additional 500 shares in the last quarter. Moody Aldrich Partners LLC grew its holdings in Pathward Financial by 41.1% during the fourth quarter. Moody Aldrich Partners LLC now owns 127,316 shares of the savings and loans company’s stock valued at $6,739,000 after purchasing an additional 37,116 shares during the period. Finally, Louisiana State Employees Retirement System bought a new stake in Pathward Financial during the fourth quarter valued at about $693,000. Institutional investors own 92.66% of the company’s stock.

Pathward Financial Price Performance

The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.74 billion, a P/E ratio of 9.72 and a beta of 0.68. The firm has a 50 day moving average price of $56.50 and a 200 day moving average price of $52.85.

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.