Piper Sandler Raises Pathward Financial (NASDAQ:CASH) Price Target to $75.00

Pathward Financial (NASDAQ:CASH) had its target price hoisted by Piper Sandler from $68.00 to $75.00 in a research note issued to investors on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the savings and loans company’s stock.

Separately, Keefe, Bruyette & Woods reduced their price target on shares of Pathward Financial from $60.00 to $58.00 and set a market perform rating on the stock in a research note on Friday, April 5th.

Pathward Financial Price Performance

CASH stock opened at $68.69 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 0.04. Pathward Financial has a 12 month low of $41.79 and a 12 month high of $69.63. The firm has a market cap of $1.74 billion, a P/E ratio of 10.31 and a beta of 0.68. The company’s 50-day moving average price is $57.07 and its two-hundred day moving average price is $53.10.

Pathward Financial (NASDAQ:CASH) last released its earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.55 by $0.11. Pathward Financial had a net margin of 22.10% and a return on equity of 23.59%. The firm had revenue of $176.73 million for the quarter, compared to analyst estimates of $176.63 million. During the same period last year, the firm earned $1.76 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts anticipate that Pathward Financial will post 6.6 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Tuesday, June 11th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.29%. Pathward Financial’s payout ratio is currently 3.00%.

Insider Activity

In related news, Director Kendall E. Stork sold 2,000 shares of Pathward Financial stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $53.53, for a total transaction of $107,060.00. Following the sale, the director now directly owns 11,213 shares in the company, valued at approximately $600,231.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pathward Financial

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in Pathward Financial by 36.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,480 shares of the savings and loans company’s stock worth $423,000 after buying an additional 1,982 shares during the period. SummerHaven Investment Management LLC lifted its position in shares of Pathward Financial by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 14,728 shares of the savings and loans company’s stock worth $833,000 after purchasing an additional 288 shares during the period. RMR Wealth Builders acquired a new position in shares of Pathward Financial in the 2nd quarter worth approximately $758,000. Gladius Capital Management LP acquired a new position in shares of Pathward Financial in the 2nd quarter worth approximately $31,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Pathward Financial by 103.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 149,143 shares of the savings and loans company’s stock worth $8,437,000 after purchasing an additional 75,792 shares during the period. 92.66% of the stock is currently owned by institutional investors and hedge funds.

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.