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

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 changing hands.

The savings and loans company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.19. The business had revenue of $247.25 million for the quarter, compared to analysts’ expectations of $240.46 million. Pathward Financial had a net margin of 22.22% and a return on equity of 24.97%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.18 EPS.

Pathward Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CASH shares. 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 report on Thursday, January 25th. 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 report on Friday, April 5th.

Insider Buying and Selling

In other Pathward Financial news, President Anthony M. Sharett sold 1,000 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pathward Financial

Several hedge funds and other institutional investors have recently bought and sold shares of CASH. Kennicott Capital Management LLC acquired a new stake in shares of Pathward Financial during the fourth quarter valued at about $35,000. Carmel Capital Partners LLC purchased a new position in shares of Pathward Financial in the third quarter valued at approximately $36,000. Harvest Fund Management Co. Ltd boosted its stake in shares of Pathward Financial by 170.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,696 shares of the savings and loans company’s stock valued at $78,000 after purchasing an additional 1,070 shares during the period. Cottage Street Advisors LLC boosted its stake in shares of Pathward Financial by 60.9% in 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 purchasing an additional 800 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Pathward Financial by 24.6% in 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 during the period. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Pathward Financial Stock Up 4.0 %

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

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.