Pathward Financial (NASDAQ:CASH) Issues FY23 Earnings Guidance

Pathward Financial (NASDAQ:CASHGet Rating) issued an update on its FY23 earnings guidance on Wednesday morning. The company provided EPS guidance of $5.40-5.80 for the period, compared to the consensus EPS estimate of $5.48.

Pathward Financial Price Performance

Shares of Pathward Financial stock traded up $0.23 during trading on Wednesday, reaching $45.73. The company’s stock had a trading volume of 144,569 shares, compared to its average volume of 217,179. The stock has a 50-day moving average price of $43.86 and a two-hundred day moving average price of $39.27. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. Pathward Financial has a one year low of $31.16 and a one year high of $61.63. The stock has a market capitalization of $1.29 billion, a P/E ratio of 8.74 and a beta of 0.86.

Pathward Financial (NASDAQ:CASHGet Rating) last released its quarterly earnings results on Thursday, October 27th. The savings and loans company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.31. Pathward Financial had a return on equity of 17.78% and a net margin of 25.61%. The business had revenue of $123.22 million during the quarter, compared to analysts’ expectations of $123.55 million. As a group, sell-side analysts anticipate that Pathward Financial will post 5.51 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 2nd. Shareholders of record on Thursday, December 8th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, December 7th. This represents a $0.20 annualized dividend and a yield of 0.44%. Pathward Financial’s dividend payout ratio is currently 3.82%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CASH shares. Piper Sandler dropped their price objective on Pathward Financial from $55.00 to $54.00 and set an overweight rating for the company in a report on Wednesday, October 12th. TheStreet raised Pathward Financial from a c+ rating to a b- rating in a report on Monday, November 7th. Finally, StockNews.com began coverage on Pathward Financial in a report on Wednesday, October 12th. They set a hold rating for the company. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $48.25.

Insider Transactions at Pathward Financial

In other news, President Anthony M. Sharett sold 2,500 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $46.60, for a total transaction of $116,500.00. Following the completion of the transaction, the president now directly owns 30,486 shares in the company, valued at approximately $1,420,647.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Pathward Financial

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp boosted its position in Pathward Financial by 9.1% during the 1st quarter. State Street Corp now owns 1,619,290 shares of the savings and loans company’s stock worth $89,010,000 after acquiring an additional 134,591 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Pathward Financial by 243.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 110,013 shares of the savings and loans company’s stock worth $3,626,000 after acquiring an additional 77,966 shares during the last quarter. Vanguard Group Inc. boosted its position in Pathward Financial by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,995,538 shares of the savings and loans company’s stock worth $65,772,000 after acquiring an additional 54,842 shares during the last quarter. Citadel Advisors LLC boosted its position in Pathward Financial by 425.9% during the 3rd quarter. Citadel Advisors LLC now owns 57,077 shares of the savings and loans company’s stock worth $1,881,000 after acquiring an additional 46,224 shares during the last quarter. Finally, Ergoteles LLC acquired a new position in Pathward Financial during the 1st quarter worth approximately $2,405,000. 89.63% of the stock is currently owned by institutional investors and hedge funds.

Pathward Financial Company Profile

(Get Rating)

Pathward Financial, Inc operates as the 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, money market savings accounts, and certificate accounts.

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