Pathward Financial (NASDAQ:CASH) Releases FY 2023 Earnings Guidance

Pathward Financial (NASDAQ:CASH) issued an update on its FY 2023 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 6.300-6.600 for the period, compared to the consensus estimate of 6.320. The company issued revenue guidance of -. Pathward Financial also updated its FY24 guidance to $6.30-6.60 EPS.

Pathward Financial Stock Down 1.5 %

Shares of NASDAQ:CASH traded down $0.78 during midday trading on Friday, reaching $52.14. The company’s stock had a trading volume of 148,581 shares, compared to its average volume of 179,239. The firm has a 50 day moving average of $50.03 and a 200-day moving average of $50.09. The firm has a market capitalization of $1.33 billion, a P/E ratio of 7.95 and a beta of 0.71. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt-to-equity ratio of 0.05. Pathward Financial has a 12-month low of $41.34 and a 12-month high of $60.49.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings results on Wednesday, April 24th. The savings and loans company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 22.90% and a return on equity of 25.58%. Pathward Financial’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.18 EPS. On average, research analysts anticipate that Pathward Financial will post 6.32 earnings per share for the current year.

Pathward Financial Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports 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 for the company in a report on Thursday, January 25th. Keefe, Bruyette & Woods cut 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 report on Friday, April 5th.

Insider Activity

In related news, President Anthony M. Sharett sold 1,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $47.50, for a total value of $47,500.00. Following the completion of the sale, the president now directly owns 33,146 shares in the company, valued at $1,574,435. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

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.