Pathward Financial (NASDAQ:CASH) Sets New 12-Month High – Here’s What Happened

Shares of Pathward Financial, Inc. (NASDAQ:CASH) hit a new 52-week high on Tuesday . The stock traded as high as $74.77 and last traded at $74.44, with a volume of 35711 shares traded. The stock had previously closed at $73.74.

Wall Street Analysts Forecast Growth

CASH has been the topic of several research reports. Piper Sandler raised their price target on Pathward Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods increased their target price on shares of Pathward Financial from $58.00 to $67.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th.

Pathward Financial Stock Up 1.1 %

The business’s 50 day moving average is $66.63 and its 200 day moving average is $59.42. The company has a market cap of $1.90 billion, a P/E ratio of 11.23 and a beta of 0.68. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. Pathward Financial had a net margin of 22.10% and a return on equity of 23.59%. The business had revenue of $176.73 million during the quarter, compared to analysts’ expectations of $176.63 million. During the same quarter last year, the company posted $1.76 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities analysts anticipate that Pathward Financial, Inc. will post 6.54 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Tuesday, September 10th. Pathward Financial’s dividend payout ratio is presently 3.00%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Pathward Financial

Institutional investors have recently made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its holdings in Pathward Financial by 1.4% during the first quarter. Illinois Municipal Retirement Fund now owns 14,900 shares of the savings and loans company’s stock worth $752,000 after buying an additional 212 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of Pathward Financial by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 14,728 shares of the savings and loans company’s stock valued at $833,000 after acquiring an additional 288 shares during the period. Diversified Trust Co raised its holdings in Pathward Financial by 4.1% in the 1st 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 during the period. The Manufacturers Life Insurance Company boosted its position in Pathward Financial by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,803 shares of the savings and loans company’s stock worth $724,000 after purchasing an additional 315 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in Pathward Financial by 7.1% in the first quarter. ProShare Advisors LLC now owns 5,247 shares of the savings and loans company’s stock valued at $265,000 after purchasing an additional 346 shares during the period. 92.66% of the stock is owned by hedge funds and other institutional investors.

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.