Piper Sandler Issues Positive Forecast for Pathward Financial (NASDAQ:CASH) Stock Price

Pathward Financial (NASDAQ:CASH) had its target price increased by Piper Sandler from $82.00 to $94.00 in a report released on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the savings and loans company’s stock.

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Pathward Financial from $76.00 to $90.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Pathward Financial Stock Up 0.6 %

CASH stock opened at $74.08 on Monday. The firm has a market capitalization of $1.79 billion, a PE ratio of 11.17 and a beta of 0.69. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.04. Pathward Financial has a twelve month low of $46.68 and a twelve month high of $86.00. The stock’s 50 day moving average is $78.10 and its 200-day moving average is $68.32.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.08. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The business had revenue of $167.90 million for the quarter, compared to analyst estimates of $167.20 million. During the same period last year, the company posted $1.36 earnings per share. Pathward Financial’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts expect that Pathward Financial will post 7.05 EPS for the current fiscal year.

Pathward Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Tuesday, December 10th. Pathward Financial’s dividend payout ratio (DPR) is currently 3.02%.

Insider Activity at Pathward Financial

In other Pathward Financial news, CFO Greg Sigrist sold 2,250 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $80.60, for a total value of $181,350.00. Following the sale, the chief financial officer now directly owns 9,644 shares in the company, valued at $777,306.40. This represents a 18.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pathward Financial

Several large investors have recently added to or reduced their stakes in CASH. Los Angeles Capital Management LLC purchased a new stake in Pathward Financial in the third quarter valued at approximately $476,000. Foundry Partners LLC increased its stake in Pathward Financial by 59.3% in the third quarter. Foundry Partners LLC now owns 131,458 shares of the savings and loans company’s stock valued at $8,678,000 after acquiring an additional 48,917 shares during the last quarter. Algert Global LLC lifted its stake in Pathward Financial by 83.1% during the second 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 last quarter. Tidal Investments LLC purchased a new position in shares of Pathward Financial in the 3rd quarter worth about $725,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Pathward Financial by 65.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 44,047 shares of the savings and loans company’s stock worth $2,908,000 after purchasing an additional 17,431 shares in the last quarter. Institutional investors own 92.66% of the company’s stock.

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.