Welcome to our dedicated page for Pathward Financial news (Ticker: CASH), a resource for investors and traders seeking the latest updates and insights on Pathward Financial stock.
Pathward Financial, Inc. (CASH) stands as a dedicated financial services firm reaching underserved communities through its national banking subsidiary, Pathward, N.A. The company offers a host of financial products including deposit accounts, lending solutions, and innovative fintech services. This news page collates essential updates ranging from SEC filings and insider trading reports to annual and quarterly disclosures, painting a clear picture of their operational milestones and regulatory engagements.
Delve into articles that detail material events and procedural developments, such as 8-K and 10-K filings, that reflect the company’s ongoing efforts in promoting financial inclusion. The coverage is tailored to offer both novice and experienced investors insights into operational trends, product updates, and strategic moves within the financial services sector. The information provided enables readers to appreciate how Pathward’s initiatives align with broader shifts in the market and evolving financial practices.
Each piece is designed to provide concise, fact-based reporting without speculation, ensuring clarity in a highly regulated space. Whether you are interested in regulatory actions, service enhancements, or fintech progress, this resource serves as a valuable archive of detailed news that highlights the company’s commitment to transparency and community outreach.
Bookmark this page and return frequently for consistent updates and in-depth analysis on Pathward Financial, Inc. news, allowing you to stay well-informed about significant business developments that impact a crucial segment of the financial industry.
Breach Inlet Capital, a top 10 shareholder of Daktronics (DAKT) with nearly 2% ownership, has issued a public letter expressing concerns about the company's board and supporting fellow shareholder Alta Fox. The letter criticizes several issues including: delayed CFO search announcement following a going concern notice, late disclosure of consultant hiring, and vague financial targets. The firm points out that management and board members have sold approximately $19 million in stock (35% of holdings) in the past six months.
Breach Inlet Capital proposes immediate changes including board declassification, appointment of four shareholder-nominated directors, separation of CEO and Chairman roles, and restructuring of executive compensation. The letter also highlights the board's rejection of Glen Herrick, a qualified candidate for both board and CFO positions, suggesting potential entrenchment issues.
Pathward Financial (Nasdaq: CASH) has been ranked #29 on Monitor's Bank 50 list, moving up from #31 in 2023. This marks the third consecutive year the company has been recognized among the top U.S. banks in equipment leasing and finance. The advancement reflects Pathward's Commercial Finance business line's commitment to providing diverse equipment financing products and services. The recognition highlights the company's expertise in delivering flexible, personalized financing solutions to support business growth.
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.
FAQ
What is the current stock price of Pathward Financial (CASH)?
What is the market cap of Pathward Financial (CASH)?
