Pathward Financial Stock Price, News & Analysis

Freedom Financial Network announced the successful closing of a $323.55 million securitization of FreedomPlus personal loans, rated AAA by DBRS and Kroll. This is the third securitization in 2022 to achieve AAA ratings and the 13th by the Freedom Consumer Credit Fund. The successful underwriting, based on innovative algorithms, demonstrates the company's strong position in personal finance. With total securitization issuance now exceeding $3.8 billion, the deal showcases Freedom's commitment to providing financial solutions that help consumers consolidate debt and improve financial accessibility.

Meta Financial Group, Inc. (CASH) has declared a cash dividend of $0.05 per share for the third fiscal quarter of 2022. This dividend will be paid on July 1, 2022, to shareholders on record as of June 9, 2022. As of March 31, 2022, the company reported total assets of $6.89 billion and shareholders' equity of $763.4 million. Notably, the company is in the process of rebranding, changing its name to Pathward Financial, Inc. by the end of the year.

Meta Financial Group (Nasdaq: CASH) reported a net income of $49.3 million ($1.66 per diluted share) for Q2 2022, down from $59.1 million ($1.84 per share) in Q2 2021. Adjusted net income was $51.4 million ($1.73 per share) after $2.8 million in rebranding expenses. Total revenue increased 3% to $193.6 million. Notably, net interest income rose 13% to $83.8 million, and net interest margin increased to 4.80%. The company originated $1.83 billion in refund advance loans, a slight increase from last year.

Meta Financial Group (Nasdaq: CASH) released its 2021 ESG Report, emphasizing its mission to enhance financial inclusion. Key initiatives include originating $101.1 million in renewable energy financing, achieving 23% employee participation in resource groups, and receiving an Outstanding Community Reinvestment Act rating. The company also formed an ESG Committee to ensure governance and launched a Community Impact Program to foster positive community change. These efforts align with its commitment to economic mobility for underserved communities.

Meta Financial Group, Inc. (Nasdaq: CASH) will release its financial results for Q2 FY 2022 on April 28, 2022, after market close. A conference call and earnings webcast will take place at 4:00 p.m. CT to discuss these results. Interested participants can call 1-844-200-6205 or join via webcast from the company’s Investor Relations website. Additionally, the company is transitioning its name to Pathward Financial, Inc. by the end of the calendar year, enhancing its focus on financial inclusion.

Kora, a fintech serving college students, has launched the Kora Rewards program in partnership with Cardlytics. Users can earn up to 10% cash back when shopping with the KoraCard at various brands. This feature aims to enhance financial management for students, who have limited options for financial rewards. The Kora app also includes KoraCoach for financial education and KoraCash for flexible financing between $25 and $2000. This initiative aligns with Kora's mission to improve financial literacy among students.

Advantage Payment Services (APS) has secured a strategic investment from MetaBank, enhancing its dispute management solutions for the fintech sector. APS, a leader in financial data management, aims to integrate advanced AI and Machine Learning into its Dispute Advantage platform, improving compliance and operational efficiency. This partnership is expected to elevate industry standards in dispute case management. With over two decades of experience, APS is set to leverage MetaBank's expertise to streamline technology development for evolving regulatory demands.

MetaBank, a financial empowerment company, is rebranding to Pathward, aiming to enhance financial inclusion. This change follows strategic acquisitions and a comprehensive brand strategy review. The transition will occur by the end of the year, including a new brand identity and website. Meta Financial Group, the holding company for MetaBank, will also adopt the name Pathward Financial. CEO Brett Pharr emphasized the company’s commitment to removing barriers for the unbanked and underserved, reinforcing the mission to provide economic mobility.

ACE Cash Express, part of Populus Financial Group, has successfully raised over $53,000 for the nonprofit Homes For Our Troops (HFOT) through its "Chip in for Charity" program. This initiative, launched in August 2020, allows customers to donate automatically via their ACE Flare® Account by MetaBank® debit cards. In the first year, customers raised $39,490 for HFOT, and ACE contributed an additional $5,000. The funds support building specially adapted homes for injured veterans. The Give A Little Campaign raised $9,508 more, showcasing ACE's commitment to community support.