Piper Sandler Raises Pathward Financial (NASDAQ:CASH) Price Target to $82.00

by · The Cerbat Gem

Pathward Financial (NASDAQ:CASH – Free Report) had its price objective raised by Piper Sandler from $75.00 to $82.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the savings and loans company’s stock.

Separately, Keefe, Bruyette & Woods raised their price objective on shares of Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th.

Read Our Latest Research Report on CASH

Pathward Financial Trading Down 2.4 %

Shares of CASH stock opened at $68.46 on Thursday. Pathward Financial has a 1 year low of $44.39 and a 1 year high of $75.20. The firm has a market capitalization of $1.73 billion, a PE ratio of 10.28 and a beta of 0.68. The stock has a fifty day moving average of $68.02 and a two-hundred day moving average of $60.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.73.

Pathward Financial (NASDAQ:CASH – Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.08. The business had revenue of $167.90 million during the quarter, compared to the consensus estimate of $167.20 million. Pathward Financial had a net margin of 22.10% and a return on equity of 23.59%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 earnings per share. As a group, research analysts expect that Pathward Financial will post 6.54 EPS for the current year.

Pathward Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.20 annualized dividend and a yield of 0.29%. Pathward Financial’s dividend payout ratio is currently 3.00%.

Insider Buying and Selling

In other news, President Anthony M. Sharett sold 3,100 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $66.40, for a total transaction of $205,840.00. Following the completion of the transaction, the president now owns 30,046 shares in the company, valued at approximately $1,995,054.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, President Anthony M. Sharett sold 3,100 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $66.40, for a total transaction of $205,840.00. Following the completion of the sale, the president now directly owns 30,046 shares of the company’s stock, valued at $1,995,054.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas J. Hajek sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $64.91, for a total transaction of $129,820.00. Following the sale, the director now owns 19,531 shares of the company’s stock, valued at $1,267,757.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pathward Financial

Hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP increased its stake in Pathward Financial by 108.5% in the 1st quarter. GSA Capital Partners LLP now owns 32,878 shares of the savings and loans company’s stock worth $1,660,000 after purchasing an additional 17,111 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of Pathward Financial by 7.8% in the first quarter. Epoch Investment Partners Inc. now owns 269,425 shares of the savings and loans company’s stock worth $13,601,000 after acquiring an additional 19,539 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Pathward Financial by 103.3% during the second quarter. Assenagon Asset Management S.A. now owns 149,143 shares of the savings and loans company’s stock valued at $8,437,000 after acquiring an additional 75,792 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Pathward Financial by 116.9% in the 1st quarter. BNP Paribas Financial Markets now owns 26,317 shares of the savings and loans company’s stock valued at $1,328,000 after acquiring an additional 14,181 shares in the last quarter. Finally, Algert Global LLC boosted its stake in Pathward Financial by 83.1% in the 2nd quarter. Algert Global LLC now owns 80,376 shares of the savings and loans company’s stock worth $4,547,000 after purchasing an additional 36,475 shares during the period. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Pathward Financial Company Profile

(Get Free Report)

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.

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