Pathward Financial (NASDAQ:CASH) Hits New 52-Week High – Here’s Why

Pathward Financial, Inc. (NASDAQ:CASH) hit a new 52-week high on Wednesday . The company traded as high as $70.04 and last traded at $69.91, with a volume of 36211 shares trading hands. The stock had previously closed at $68.14.

Analyst Ratings Changes

CASH has been the subject of a number of research reports. Piper Sandler boosted their price objective 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 boosted their price objective on Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th.

Pathward Financial Stock Performance

The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 10.53 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. The stock has a fifty day moving average price of $65.52 and a 200-day moving average price of $58.51.

Pathward Financial (NASDAQ:CASH) last released its earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The business had revenue of $176.73 million for the quarter, compared to analyst estimates of $176.63 million. Pathward Financial had a return on equity of 23.59% and a net margin of 22.10%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.76 earnings per share. On average, analysts expect that Pathward Financial, Inc. will post 6.87 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently announced 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 0.28%. The ex-dividend date was Tuesday, September 10th. Pathward Financial’s payout ratio is currently 3.00%.

Insider Activity

In related news, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $66.40, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Pathward Financial news, Director Douglas J. Hajek sold 2,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $64.91, for a total value of $129,820.00. Following the sale, the director now owns 19,531 shares of the company’s stock, valued at approximately $1,267,757.21. 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 accessible through the SEC website. Also, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $66.40, for a total value of $205,840.00. Following the completion of the sale, the president now directly owns 30,046 shares in the company, valued at $1,995,054.40. This trade represents 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.

Institutional Trading of Pathward Financial

Large investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Pathward Financial in the second quarter valued at $25,000. Quarry LP lifted its position in shares of Pathward Financial by 419.0% in the second quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock valued at $29,000 after acquiring an additional 419 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of Pathward Financial in the second quarter valued at $31,000. USA Financial Formulas purchased a new stake in shares of Pathward Financial in the third quarter valued at $56,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Pathward Financial in the first quarter valued at $59,000. Institutional investors and hedge funds 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.