Pathward Financial, Inc. (NASDAQ:CASH) Short Interest Update

Pathward Financial, Inc. (NASDAQ:CASH) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 1,550,000 shares, a decline of 10.4% from the March 31st total of 1,730,000 shares. Based on an average trading volume of 179,200 shares, the days-to-cover ratio is presently 8.6 days. Currently, 6.2% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Piper Sandler dropped their price target on shares of Pathward Financial from $69.00 to $68.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Keefe, Bruyette & Woods dropped their price objective on shares of Pathward Financial from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, April 5th.

Insiders Place Their Bets

In other Pathward Financial news, President Anthony M. Sharett sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $47.50, for a total transaction of $47,500.00. Following the transaction, the president now owns 33,146 shares of the company’s stock, valued at approximately $1,574,435. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Pathward Financial

Several institutional investors have recently made changes to their positions in the stock. SummerHaven Investment Management LLC boosted its position in Pathward Financial by 1.5% in the fourth quarter. SummerHaven Investment Management LLC now owns 14,259 shares of the savings and loans company’s stock worth $755,000 after purchasing an additional 208 shares during the last quarter. Diversified Trust Co increased its stake in shares of Pathward Financial by 4.1% in the first quarter. Diversified Trust Co now owns 7,777 shares of the savings and loans company’s stock worth $393,000 after purchasing an additional 305 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Pathward Financial by 10.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,843 shares of the savings and loans company’s stock worth $256,000 after purchasing an additional 441 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Pathward Financial by 24.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,535 shares of the savings and loans company’s stock worth $134,000 after acquiring an additional 500 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Pathward Financial by 11.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,498 shares of the savings and loans company’s stock worth $278,000 after purchasing an additional 556 shares during the period. Institutional investors and hedge funds own 92.66% of the company’s stock.

Pathward Financial Price Performance

NASDAQ:CASH opened at $50.37 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $50.02 and a 200 day simple moving average of $50.19. The stock has a market capitalization of $1.28 billion, a PE ratio of 7.56 and a beta of 0.71. Pathward Financial has a 1-year low of $41.34 and a 1-year high of $60.49.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings data on Wednesday, April 24th. The savings and loans company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.19. The firm had revenue of $247.25 million for the quarter, compared to analyst estimates of $240.46 million. Pathward Financial had a return on equity of 25.09% and a net margin of 22.90%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $2.18 EPS. On average, research analysts expect that Pathward Financial will post 6.43 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, March 11th. Pathward Financial’s dividend payout ratio (DPR) is presently 3.00%.

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.