Pathward Financial (NASDAQ:CASH) Given New $91.00 Price Target at Piper Sandler

Pathward Financial (NASDAQ:CASH) had its price target cut by Piper Sandler from $94.00 to $91.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the savings and loans company’s stock.

Separately, Keefe, Bruyette & Woods raised their price target on shares of Pathward Financial from $76.00 to $90.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Pathward Financial Stock Performance

NASDAQ CASH opened at $77.31 on Wednesday. The firm has a market capitalization of $1.86 billion, a P/E ratio of 11.66 and a beta of 0.72. The stock has a 50-day simple moving average of $78.52 and a two-hundred day simple moving average of $71.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. Pathward Financial has a fifty-two week low of $46.68 and a fifty-two week high of $86.00.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The company had revenue of $173.51 million during the quarter, compared to analysts’ expectations of $173,273.50 billion. During the same period last year, the business earned $1.06 earnings per share. Pathward Financial’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts forecast that Pathward Financial will post 7.29 earnings per share for the current year.

Pathward Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.26%. The ex-dividend date was Tuesday, December 10th. Pathward Financial’s payout ratio is currently 3.02%.

Insider Transactions at Pathward Financial

In related news, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $80.60, for a total value of $181,350.00. Following the completion of the sale, the chief financial officer now owns 9,644 shares of the company’s stock, valued at approximately $777,306.40. The trade was a 18.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.23% of the company’s stock.

Institutional Trading of Pathward Financial

A number of institutional investors and hedge funds have recently modified their holdings of CASH. Quarry LP boosted its holdings in Pathward Financial by 419.0% in the 2nd quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock worth $29,000 after buying an additional 419 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Pathward Financial in the third quarter valued at approximately $29,000. Point72 DIFC Ltd purchased a new position in shares of Pathward Financial in the third quarter valued at approximately $35,000. USA Financial Formulas acquired a new stake in shares of Pathward Financial in the third quarter worth approximately $56,000. Finally, nVerses Capital LLC purchased a new stake in shares of Pathward Financial during the third quarter worth approximately $79,000. Hedge funds and other institutional investors own 92.66% of the company’s stock.

About Pathward Financial

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