Short Interest in Pathward Financial, Inc. (NASDAQ:CASH) Declines By 7.0%

Pathward Financial, Inc. (NASDAQ:CASH) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,720,000 shares, a decline of 7.0% from the October 15th total of 1,850,000 shares. Currently, 7.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 176,600 shares, the short-interest ratio is currently 9.7 days.

Insider Activity

In other Pathward Financial news, President Anthony M. Sharett sold 3,100 shares of the 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 sale, the president now directly owns 30,046 shares in the company, valued at $1,995,054.40. This represents a 9.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $80.60, for a total transaction of $181,350.00. Following the completion of the transaction, the chief financial officer now owns 9,644 shares of the company’s stock, valued at $777,306.40. The trade was a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,350 shares of company stock worth $517,010. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Pathward Financial

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of Pathward Financial by 6.9% in the 3rd quarter. FMR LLC now owns 2,052,287 shares of the savings and loans company’s stock valued at $135,471,000 after purchasing an additional 132,067 shares during the period. State Street Corp boosted its position in shares of Pathward Financial by 1.4% during the third quarter. State Street Corp now owns 1,274,851 shares of the savings and loans company’s stock valued at $84,218,000 after buying an additional 17,004 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Pathward Financial by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 699,884 shares of the savings and loans company’s stock worth $46,206,000 after acquiring an additional 18,936 shares during the last quarter. American Century Companies Inc. grew its position in Pathward Financial by 20.4% in the 2nd quarter. American Century Companies Inc. now owns 504,708 shares of the savings and loans company’s stock worth $28,551,000 after purchasing an additional 85,566 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Pathward Financial by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 328,413 shares of the savings and loans company’s stock valued at $21,679,000 after acquiring an additional 1,733 shares in the last quarter. Institutional investors and hedge funds own 92.66% of the company’s stock.

Pathward Financial Stock Down 0.5 %

Shares of NASDAQ CASH opened at $79.20 on Tuesday. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 11.95 and a beta of 0.67. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 0.04. Pathward Financial has a 12 month low of $46.68 and a 12 month high of $83.83. The stock has a 50-day moving average price of $70.83 and a two-hundred day moving average price of $63.32.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.08. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The business had revenue of $167.90 million during the quarter, compared to analysts’ expectations of $167.20 million. During the same period in the prior year, the company earned $1.36 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, analysts forecast that Pathward Financial will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were given a $0.05 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. Pathward Financial’s dividend payout ratio (DPR) is presently 3.02%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CASH shares. Keefe, Bruyette & Woods lifted 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. Piper Sandler lifted their price target on Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th.

Pathward Financial Company Profile

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.