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Pathward Financial, Inc.NasdaqGS:CASH Stock Report

Market Cap US$1.7b
Share Price
US$82.58
US$103.5
20.2% undervalued intrinsic discount
1Y5.6%
7D3.3%
Portfolio Value
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Pathward Financial, Inc.

NasdaqGS:CASH Stock Report

Market Cap: US$1.7b

Pathward Financial (CASH) Stock Overview

Operates as the bank holding company for Pathward, National Association that provides various banking products and services in the United States. More details

CASH fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance3/6
Financial Health4/6
Dividends0/6

Rewards

Trading at 58.1% below our estimate of its fair value

Earnings have grown 7.5% per year over the past 5 years

Trading at good value compared to peers and industry

Risk Analysis

Significant insider selling over the past 3 months


CASH Community Fair Values

Create Narrative

See what others think this stock is worth. Follow their fair value or set your own to get alerts.

Analyst Price Targets

View all narratives

Pathward Financial, Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Pathward Financial
Historical stock prices
Current Share PriceUS$82.58
52 Week HighUS$101.26
52 Week LowUS$65.87
Beta0.64
1 Month Change-17.36%
3 Month Change-12.63%
1 Year Change5.64%
3 Year Change81.22%
5 Year Change61.64%
Change since IPO2,578.27%

Recent News & Updates

Seeking Alpha • Apr 28

Pathward Financial: Credit Deterioration Is Concerning (Downgrade)

Summary Pathward Financial is downgraded to "Sell" due to deteriorating credit quality and insufficient loan loss reserves. Despite stable capital ratios and aggressive buybacks, NPLs have nearly tripled to 2.39%, with reserves now covering less than 1x NPLs. Loan growth remains robust, but underwriting standards appear lax, increasing exposure to riskier credits as government guarantees decline. At 10x earnings, valuation is seen as full; a more attractive entry would be near $70 or 8x earnings given elevated credit risk. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Apr 28

Pathward Financial: Credit Deterioration Is Concerning (Downgrade)

Summary Pathward Financial is downgraded to "Sell" due to deteriorating credit quality and insufficient loan loss reserves. Despite stable capital ratios and aggressive buybacks, NPLs have nearly tripled to 2.39%, with reserves now covering less than 1x NPLs. Loan growth remains robust, but underwriting standards appear lax, increasing exposure to riskier credits as government guarantees decline. At 10x earnings, valuation is seen as full; a more attractive entry would be near $70 or 8x earnings given elevated credit risk. Read the full article on Seeking Alpha
Narrative Update • Apr 23

CASH: Partner Wins And Tax Season Strength Will Support Fairly Valued Upside Potential

The analyst price target for Pathward Financial has shifted to $107. Analysts cite above-peer returns, a below-peer 10x 2026 P/E multiple, and potential upside from conservative estimates and additional partner wins as key drivers of this change.
Narrative Update • Apr 09

CASH: Partner Wins And Tax Season Strength Will Support Fairly Priced Returns

Analysts have kept their average price target for Pathward Financial roughly unchanged at about $103.50, with recent research pointing to above peer returns, a below peer 10x 2026 P/E, and potential upside from partner wins and a strong Q1 tax season. Analyst Commentary Recent research focuses on how Pathward Financial’s return profile, valuation, and near term catalysts fit together, with most commentary pointing to a constructive setup but also highlighting a few areas to watch.
Narrative Update • Mar 25

CASH: Partner Wins And Tax Season Strength Will Drive P E Re Rating

Narrative update The fair value estimate for Pathward Financial has been revised to $103.50 from $100.00 as analysts factor in recent Overweight and Outperform views, a $107 price target, and expectations that above peer returns and potential partner wins could support a higher future P/E multiple. Analyst Commentary Recent research updates highlight a mix of optimism around Pathward Financial’s earnings power and valuation, alongside some areas where expectations could prove too optimistic if business conditions or partner activity do not line up with forecasts.
Narrative Update • Mar 10

CASH: Buybacks And Auditor Shift Will Shape Future P E Re Rating Profile

Analysts have adjusted their price target on Pathward Financial to $100, largely reflecting updated views on its fair value, discount rate, revenue growth, profit margin, and future P/E assumptions following recent research that included an upgrade to Outperform by Keefe Bruyette analysts. Analyst Commentary Recent research behind the move to a US$100 price target reflects a mix of optimism about Pathward Financial’s positioning and some caution around execution and valuation risks.
Narrative Update • Feb 24

CASH: Buybacks And Auditor Change Will Shape Future P E Re Rating Profile

Analysts have revised their price target on Pathward Financial to reflect an updated future P/E assumption of 11.55 from 10.91, with the change supported by recent research that includes an upgrade to Outperform. Analyst Commentary Analysts updating their outlook on Pathward Financial are using the higher future P/E assumption of 11.55 to frame both the upside potential and the execution risks that could affect whether the company grows into that valuation.
Narrative Update • Feb 09

CASH: Buybacks And Auditor Change Will Shape Future Re Rating Risk Profile

Narrative Update on Pathward Financial The analyst price target for Pathward Financial has been revised to US$100.00 from US$100.00, and analysts cite updated assumptions around revenue growth, profit margins, and a slightly lower future P/E multiple as the key drivers behind this change. Analyst Commentary Bullish analysts framing the recent upgrade highlight how the updated assumptions on growth, margins, and the future P/E multiple still leave room for the stock to work if management delivers consistently on its plan.
Narrative Update • Jan 24

CASH: Lower Discount Rate And Buybacks Will Support Re Rating

Analysts have raised their price target on Pathward Financial from US$88 to US$100, citing updated assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E following recent research upgrades. Analyst Commentary Recent research updates highlight a shift in sentiment toward Pathward Financial, with some analysts adopting a more constructive stance on execution and valuation.
Seeking Alpha • Dec 26

Pathward Financial: Strong Growth At A Fair Price

Summary Pathward's business has an unusually heavy reliance on debit card fee income which has helped it deliver great value to shareholders by growing at a fast pace. The growth prospects overshadow the risks that are currently present and the strong past performance is likely to persist given a lower pace of rate cuts for 2025. Valuation appears to be fair within the context of Pathward's business and its growth potential and recent price developments indicate an opportunity. Read the full article on Seeking Alpha
User avatar
New Narrative • Sep 24

Innovative Banking Tech Powers Profit And Expands Market Footprint

Pathward Financial's focus on loan sourcing and underwriting optimization promises higher risk-adjusted returns, boosting profitability.
Seeking Alpha • Sep 11

Pathward Financial: A Profitable Bank Priced For A Collapse In Profitability

Summary Pathward Financial has increased its NOPAT and ROIC despite declining revenues, showcasing improved profitability and efficient capital allocation. The firm’s stable deposit portfolio and significant non-interest income make it resilient to economic volatility and lower interest rates. Pathward has generated nearly 40% of its market cap in free cash flow since 2019, highlighting strong financial health. Trading at a significant discount, Pathward offers a compelling investment opportunity with a 35% upside to its zero-growth value. Read the full article on Seeking Alpha
Seeking Alpha • Jul 14

Pathward Financial: After A Nice Move Higher, Shares Justify Even More Upside

Summary Pathward Financial shares have increased by 14.5% since April, outperforming the S&P 500. The company continues to show attractive growth in net interest income and non-interest income. Asset quality is high, with strong returns on assets and equity, making Pathward Financial a solid buy opportunity. Read the full article on Seeking Alpha
Analysis Article • Jun 15

Here's Why Pathward Financial (NASDAQ:CASH) Has Caught The Eye Of Investors

Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...
Seeking Alpha • Apr 08

Pathward Financial: Bullish Stance Unchanged

Summary Pathward Financial, Inc. stock has underperformed in recent months, with only a 6.4% increase compared to the S&P 500's 19% increase. Despite the underperformance, the company's financial results show positive growth in net interest income and asset value. Pathward Financial shares are undervalued, and the company's high-quality assets suggest potential for future growth. Read the full article on Seeking Alpha
Analysis Article • Mar 14

We Ran A Stock Scan For Earnings Growth And Pathward Financial (NASDAQ:CASH) Passed With Ease

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
Analysis Article • Oct 31

Here's Why We Think Pathward Financial (NASDAQ:CASH) Is Well Worth Watching

Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...

Shareholder Returns

CASHUS BanksUS Market
7D3.3%-2.0%-1.0%
1Y5.6%15.1%23.3%

Return vs Industry: CASH underperformed the US Banks industry which returned 15.1% over the past year.

Return vs Market: CASH underperformed the US Market which returned 23.3% over the past year.

Price Volatility

Is CASH's price volatile compared to industry and market?
CASH volatility
CASH Average Weekly Movement4.6%
Banks Industry Average Movement3.5%
Market Average Movement7.2%
10% most volatile stocks in US Market16.2%
10% least volatile stocks in US Market3.2%

Stable Share Price: CASH has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: CASH's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19541,182Brett Pharrwww.pathwardfinancial.com

Pathward Financial, Inc. operates as the bank holding company for Pathward, National Association that provides various banking products and services in the United States. It operates through three segments: Consumer, Commercial, and Corporate Services/Other. The company offers demand deposit accounts, savings accounts, and money market savings accounts.

Pathward Financial, Inc. Fundamentals Summary

How do Pathward Financial's earnings and revenue compare to its market cap?
CASH fundamental statistics
Market capUS$1.70b
Earnings (TTM)US$188.61m
Revenue (TTM)US$777.18m
9.2x
P/E Ratio
2.0x
P/B Ratio

Is CASH overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
CASH income statement (TTM)
RevenueUS$777.18m
Cost of RevenueUS$0
Gross ProfitUS$777.18m
Other ExpensesUS$588.57m
EarningsUS$188.61m

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

n/a

Earnings per share (EPS)8.93
Gross Margin100.00%
Net Profit Margin24.27%
Debt/Equity Ratio7.0%

How did CASH perform over the long term?

See historical performance and comparison

Dividends

0.2%
Current Dividend Yield
2%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/20 21:27
End of Day Share Price 2026/05/20 00:00
Earnings2026/03/31
Annual Earnings2025/09/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Pathward Financial, Inc. is covered by 7 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Stephen MossB. Riley Securities, Inc.
Timothy SwitzerKeefe, Bruyette, & Woods
Christopher McGrattyKeefe, Bruyette, & Woods