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. (NASDAQ: CASH) is a unitary savings and loan holding company and a full-service banking subsidiary of Meta Financial. Operating under the brand name Pathward®, Pathward Financial is both a community-focused financial institution and a nationwide payments company. It serves its diverse clientele through three main segments: Consumer, Commercial, and Corporate Services/Other, with the majority of its revenue stemming from the Consumer segment.
Pathward® N.A., a national bank and a subsidiary of Pathward Financial, Inc., plays a significant role in enhancing financial inclusion across the United States. The company aims to empower both individuals and businesses by providing increased financial availability, choice, and opportunities via its strategic business lines - Banking as a Service and Commercial Finance.
Recently, Pathward Financial has bolstered its position in the financial technology sector through key partnerships. A notable collaboration includes supporting Finix, a payments technology provider, in the launch of Finix Payouts, a new product designed to streamline business-to-business payments. This partnership aims to simplify and expedite the money transfer process for businesses of all sizes by leveraging Mastercard Send™ and Visa Direct for rapid payouts.
Pathward’s collaboration with Finix showcases its commitment to innovation and financial accessibility. This initiative allows the company to offer enhanced services like real-time bank account validation, flexible payment maximums, and embedded compliance, which are crucial for businesses needing efficient payment solutions. By integrating technologies that facilitate quick, secure, and reliable money movement, Pathward Financial enhances its service offerings and strengthens its market position.
Furthermore, Pathward Financial’s strategic focus includes expanding its community-oriented services while leveraging technological advancements to meet the evolving needs of its customers. By combining traditional banking services with cutting-edge payment solutions, Pathward aims to provide comprehensive support to its customers, including individuals and businesses, thus promoting financial inclusivity and empowerment.
Jackson Hewitt Tax Service has launched nearly 3,000 in-office locations and introduced two new financial products: Early Refund Advance and No Fee Refund Advance. The Early Refund Advance allows clients to access up to $700, a $200 increase from last year. The No Fee Refund Advance offers loans between $500 and $4,000, starting on January 2, 2021. Both advances are 0% APR loans from MetaBank, ensuring clients can receive funds quickly to alleviate financial stress during the holiday season.
On December 3, 2020, Blackhawk Network and MetaBank launched the Game On card, a payment card for sports betting funding now available in New Jersey and Pennsylvania. This card allows users to easily deposit funds into accounts with major sportsbooks like FanDuel and DraftKings. Research indicates a growing interest in sports betting, with the market expected to expand significantly. The Game On card addresses consumer demand for secure, private funding options while supporting responsible spending controls. The card can be purchased at local retailers or online.
Meta Financial Group, Inc. (Nasdaq: CASH) announced a cash dividend of $0.05 per share for the first fiscal quarter of 2021. The dividend will be payable on January 4, 2021, to shareholders of record as of December 10, 2020. As of September 30, 2020, the company reported total assets of $6.09 billion and shareholders’ equity of $847.3 million.
Securus Technologies and JPay launched the paySupreme™ prepaid Mastercard®, aimed at providing affordable financial services to users, especially those supporting incarcerated individuals. The card allows transactions anywhere Mastercard® is accepted and includes beneficial features like an optional interest-bearing savings account. Users can access discounts on money transfers through JPay. Key benefits include no activation fees, free identity theft monitoring, and 24/7 customer service. The prepaid card is issued by MetaBank and aligns with the goal of enhancing financial stability for consumers.
GiftCards.com has expanded its digital gift card offerings in response to the increasing trend of online shopping, especially during the holiday season. New options include multi-store cards like Happy Cards, Giving Good, and Choice Cards, allowing recipients to choose from various retailers. A study shows 60% of consumers plan to shop online, with 52% likely purchasing more gift cards this year. The customizable egifts range from $25 to $500 with no fees or expiration dates, enabling easy online redemption.
Meta Financial Group (CASH) reported a net income of $13.2 million for the fourth quarter of 2020, down from $20.2 million year-over-year. For fiscal 2020, net income reached a record $104.7 million, representing an EPS of $2.94, an 18% increase from 2019. Average deposits surged 121% to $5.82 billion due to the Economic Impact Payment program. However, total gross loans and leases fell 9% to $3.31 billion from the previous year. Net interest margin decreased to 3.77%, reflecting excess cash from the EIP program and a lower interest rate environment.
Meta Financial Group (Nasdaq: CASH) will release its fourth quarter and fiscal year 2020 financial results on October 28, 2020, after market close. A conference call and earnings webcast will follow at 4:00 p.m. Central Time. Interested parties can access the live call by dialing (844) 461-9934. The results will be discussed in detail during the call, which is expected to provide insights into the company’s performance over the fiscal year. More information is available on Meta’s Investor Relations website.
Blackhawk Network has launched its Giving Good™ Cards, enabling consumers to purchase gift cards that support charitable organizations. Each card, available nationwide, allows users to choose from popular brands, with values ranging from $20 to $500 and no fees. For each card purchased, 3% of its loaded value is donated to charities like Feeding America and Make-A-Wish. This initiative aims to meet the rising demand for charitable giving during the pandemic, with 70% of surveyed consumers interested in supporting those in need through gift cards.
MetaBank, a subsidiary of Meta Financial Group (CASH), announced the expansion of its faster payments platform by partnering with Finix and TabaPay. This enhancement aims to offer businesses multiple options for processing faster payments via Mastercard Send and Visa Direct. As part of its commitment to innovation, MetaBank aims to grow its faster payments solution across various disbursement categories. Research indicates that 66% of payment managers believe faster payments provide a competitive advantage, with potential savings of up to $6 per replaced check.
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