Pathward Financial
Provides partner banking infrastructure and specialty commercial finance through a national bank charter.
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Profile
Provides partner banking programs for payments, tax services, consumer credit, and financial institutions alongside working-capital, equipment, and structured finance. Program fees generate revenue while partner-sourced deposits fund a federally chartered bank balance sheet, linking earnings to partner activity, deposit flows, and commercial credit performance.
Runs nationwide financial-services businesses through a federally chartered bank. Partner Solutions supplies issuing, acquiring, digital-payment, financial-institution, consumer-credit, and professional-tax programs to fintechs and other partners; these programs generate fee revenue and deposits that help fund the broader balance sheet.
Commercial Finance provides working-capital, equipment, and structured financing, including asset-based loans, factoring, leases, term loans, and government-guaranteed lending. The model combines payment-program operations and compliance infrastructure with collateral-focused commercial underwriting, while the completed sale of commercial insurance premium finance narrowed the lending mix. Operations are centered in the United States, with a Canadian commercial-finance office. Revenue and funding depend on partner programs, transaction activity, deposit flows, credit performance, and continued compliance with banking and payments regulation.
Company facts
Categories
Key statistics
Year to date +13.3% · Average volume (30d) 202.8K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior target | Target |
|---|---|---|---|---|
| Jul 23, 2026 | Piper Sandler | Target | $82 | $105 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q3 FY26 | $1.95 | $1.37 | −29.7% | $191.2M | $189.6M | −0.8% | −6.26% |
| Apr 22, 2026Q2 FY26 | $3.35 | $3.35 | 0.0% | $272.0M | $276.3M | +1.6% | −11.01% |
| Jan 22, 2026Q1 FY26 | $1.38 | $1.57 | +13.8% | $185.8M | $173.1M | −6.8% | +7.28% |
| Oct 21, 2025Q4 FY25 | $1.38 | $1.69 | +22.5% | $195.0M | $155.4M | −20.3% | −0.01% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $235.9M | $158.1M | $155.4M | $175.0M | $282.1M | $190.8M | |
| Gross profit | $194.9M | $147.5M | $160.3M | $169.9M | $230.7M | $161.3M | |
| Operating income | $91.4M | $47.2M | $48.4M | $42.7M | $87.2M | $32.2M | |
| Net income | $75.0M | $42.1M | $38.8M | $35.1M | $72.8M | $29.0M | |
| Diluted EPS | $3.14 | $1.81 | $1.69 | $1.57 | $3.35 | $1.37 | |
| Gross margin | 82.6% | 93.3% | 103.2% | 97.1% | 81.8% | 84.6% | |
| Operating margin | 38.7% | 29.8% | 31.1% | 24.4% | 30.9% | 16.9% |
Fiscal years (4-quarter sums)FY21 $515.1M · FY22 $506.2M · FY23 $588.3M · FY24 $648.4M · FY25 $685.2M
Revenue by product · Q3 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.37B · Total debt $201.0M · Total assets $7.31B · Shareholders' equity $850.9M
Dividends
Raised for 30 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 11, 2026 | Jun 11 | Jul 1 | $0.05 | |
| Mar 12, 2026 | Mar 12 | Apr 1 | $0.05 | |
| Dec 10, 2025 | Dec 10 | Jan 2 | $0.05 | |
| Sep 10, 2025 | Sep 10 | Oct 1 | $0.05 | |
| Jun 13, 2025 | Jun 13 | Jul 1 | $0.05 | |
| Mar 13, 2025 | Mar 13 | Apr 1 | $0.05 | |
| Dec 10, 2024 | Dec 10 | Jan 2 | $0.05 | |
| Sep 10, 2024 | Sep 10 | Oct 1 | $0.05 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 21.11M · Float 20.79M · 98.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 3.10M | 14.71% | 13F | Aug 7, 2026 |
| FMR LLC | 1.80M | 8.54% | 13F | Aug 13, 2026 |
| State Street Corporation | 1.44M | 6.80% | 13G | Aug 7, 2026 |
| American Century Companies Inc | 1.27M | 6.02% | 13F | Aug 12, 2026 |
| Dimensional Fund Advisors LP | 1.06M | 5.04% | 13F | Aug 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 29, 2026 | Elizabeth G. Hoople | director | −4,500 | $82.29 |
| Apr 29, 2026 | Douglas J. Hajek | director | −5,000 | $86.37 |
| Feb 23, 2026 | Brett L. Pharr | director, officer: Chief Executive Officer | −15,641 | $93.88 |
| Feb 9, 2026 | Kendall E. Stork | director | −3,000 | $94.15 |
| Jan 30, 2026 | Christopher Perretta | director | −1,450 | $89.94 |
Peers
- The Bancorp
Pioneer fintech sponsor bank; #1 US prepaid card issuer by transaction volume
- Green Dot
Dual threat: BaaS sponsor bank and SBTPG tax refund transfer franchise
- Republic Bancorp
Kentucky bank with a 25-year tax refund transfer and advance loan franchise
- Triumph Financial
Transportation-focused factoring and freight payment network for US trucking
- MVB Financial
Fintech-enabled sponsor bank for payments, BaaS, and digital gaming nationally
- NewtekOne
Tech-enabled bank holding company specializing in SBA 7(a) and SMB lending
- Live Oak Bancshares
Nation's #1 SBA 7(a) lender expanding non-guaranteed ABL and sponsor finance
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Pathward Financial | $81.50 | +0.12% | $1.72B | 10.2 | 8.7 | 2.1 | −3.1% |
| The Bancorp | $65.70 | −0.05% | $2.74B | 12.3 | 9.5 | 3.6 | −24.0% |
| Green Dot | $13.34 | −0.07% | $756.1M | — | 8.3 | 0.3 | +17.3% |
| Republic Bancorp | $94.90 | −0.15% | $1.66B | 14.7 | 13.9 | 3.3 | +9.7% |
| Triumph Financial | $71.86 | −0.14% | $1.72B | 48.7 | 27.2 | 3.6 | +11.3% |
| MVB Financial | $30.43 | +0.20% | $391.0M | 10.3 | 14.6 | 1.8 | +25.4% |
| NewtekOne | $11.92 | +0.17% | $344.1M | 5.0 | 5.3 | 1.0 | −15.0% |
| Live Oak Bancshares | $40.13 | −0.04% | $1.86B | 14.1 | 11.1 | 1.7 | +10.0% |
| Median | 13.2 | 11.1 | 1.8 | +10.0% |