Pathward Financial Stock Price, News & Analysis

Pathward Financial (Nasdaq: CASH) has announced a quarterly cash dividend of $0.05 per share for the first fiscal quarter of 2025. The dividend will be paid on January 2, 2025, to shareholders of record as of December 10, 2024. The company reported total assets of $7.55 billion and shareholders' equity of $839.6 million as of September 30, 2024.

Pathward has announced an expanded strategic partnership with BridgePeak Energy Capital to implement a digital-first renewables loan platform. The collaboration aims to facilitate clean energy and rural economic development through comprehensive solutions for solar and storage projects. BridgePeak, the nation's leading renewable energy lender service provider with over $3.5 billion in closed loans, has already assisted Pathward in closing and servicing loans for more than 1.39 GW of projects totaling over $2 billion in fundings. The partnership will support flexible capital solutions up to $150 million for middle market renewable projects.

Pathward Financial (Nasdaq: CASH) has completed the sale of its commercial insurance premium finance business to AFS IBEX Financial Services, a subsidiary of Honor Capital Holdings. Honor, one of the nation's largest independent insurance premium finance companies, operates through offices in Massachusetts, New York, Florida, Texas and California. Colonnade Securities acted as the exclusive financial advisor to Pathward in this transaction.

Blackhawk Network (BHN) has launched Visa® eGift and Mastercard® eGift products nationwide, available at over 15,000 locations including Kroger, Wegmans and Weis Markets. The innovative cardless gift system features a tamper-evident carrier with QR code that, once activated, allows consumers to load funds directly to their digital wallet for immediate use in-store or online. The solution is part of BHN's fraud prevention program, BHN Protect™, and addresses growing consumer preference for QR-code and tap-to-pay technology. According to the Consumer Financial Protection Bureau, tap-to-pay digital wallet usage is projected to grow by over 150% by 2028.

Pathward Financial (Nasdaq: CASH) reported Q4 2024 net income of $33.6 million ($1.35 per share), compared to $35.9 million ($1.36 per share) in Q4 2023. For fiscal year 2024, net income reached $168.4 million ($6.62 per share), up from $163.6 million ($5.99 per share) in FY2023. Total revenue for Q4 increased 4% to $167.9 million, driven by higher net interest income. The company's net interest margin expanded to 6.66% from 6.19% year-over-year. Total gross loans and leases decreased to $4.08 billion at September 30, 2024, primarily due to the sale of its commercial insurance premium finance business, which is expected to close by October 31, 2024.

Pathward Financial, Inc. (Nasdaq: CASH) has announced it will release its fourth quarter and fiscal year 2024 financial results on Wednesday, October 23, 2024, after market close. The company will also host a conference call and earnings webcast with a corresponding presentation at 4:00 p.m. Central Time (5:00 p.m. Eastern Time) on the same day to discuss these results.

Interested parties can access the live webcast of the call from Pathward Financial's Investor Relations website at www.pathwardfinancial.com. For telephone participants, the conference call can be accessed by dialing 1-833-470-1428 approximately 10 minutes before the start time and using the access code 291724. The webcast replay will be archived on the company's website for one year.

Pathward®, N.A. has acted as agent for $146.5 million in construction loans to support the acquisition and construction of six battery energy storage system (BESS) projects in Cameron County, Texas. The North American Development Bank (NADBank) provided $73.25 million in funding as a participant. The projects will have a total capacity of 154 megawatt-hours, increasing energy storage for the Texas grid, and are expected to be fully operational by Summer 2025.

The BESS projects will participate in the Electric Reliability Council of Texas (ERCOT) market, selling electricity and grid stabilizing services. They are projected to cycle 54,925 MWh of electricity annually, equivalent to the consumption of about 4,000 U.S. households. This marks Pathward's second closed construction facility with the sponsor, following a $72.35 million construction loan for three BESS projects in Bexar County, Texas in late 2023.

NFL running back Rachaad White has partnered with Pathward, N.A. and Big Brothers Big Sisters of Tampa Bay to launch a financial literacy program for youth called Financial Fundamentals powered by Pathward. The program, aimed at students from Webb Middle School, kicked off with a check presentation of $25,000 from Pathward to Big Brothers Big Sisters of Tampa Bay.

The three-week curriculum, starting October 3, will be delivered by Pathward employees in one-hour sessions at Webb Middle School. The initiative aligns with Pathward's focus on financial inclusion and commitment to fostering financial education from a young age. White, inducted into the Big Brothers Big Sisters Hall of Fame in 2023, emphasized the importance of financial literacy in shaping a person's future.

Pathward Financial, Inc. (Nasdaq: CASH) has won the 2024 Finovate Award for Best Banking as a Service Provider through its subsidiary, Pathward, N.A. This prestigious award recognizes companies driving fintech innovation forward. Will Sowell, Pathward's Divisional President of Partner Solutions, expressed honor in receiving this national recognition and highlighted the rapid evolution of the payments ecosystem.

Pathward leverages its expertise and regulatory framework to help payments innovators scale their financial solutions across offerings such as issuing, acquiring, money movement, and lending. The company's capabilities include prepaid cards, deposit accounts, payments processing, and consumer solutions. Anthony Sharett, President of Pathward and Pathward Financial, emphasized their commitment to providing financial access for all.

This award, coinciding with Pathward's 20th year in payments, demonstrates the company's strong commitment to partnership and ability to collaborate on innovative financial solutions.