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

Pathward Financial (NASDAQ:CASHFree Report) had its target price trimmed by Piper Sandler from $94.00 to $91.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the savings and loans company’s stock.

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

Get Our Latest Research Report on CASH

Pathward Financial Stock Up 1.1 %

NASDAQ CASH opened at $79.77 on Wednesday. Pathward Financial has a 1 year low of $46.68 and a 1 year high of $86.00. The stock has a market capitalization of $1.92 billion, a PE ratio of 11.63 and a beta of 0.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.63. The business’s 50-day moving average is $78.42 and its 200 day moving average is $71.50.

Pathward Financial (NASDAQ:CASHGet Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The savings and loans company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The firm had revenue of $173.51 million for the quarter, compared to analyst estimates of $173,273.50 billion. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $1.06 EPS. Sell-side analysts forecast that Pathward Financial will post 7.26 earnings per share for the current year.

Pathward Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend was Tuesday, December 10th. Pathward Financial’s payout ratio is presently 2.92%.

Insider Activity at Pathward Financial

In related news, CFO Greg Sigrist sold 2,250 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $80.60, for a total value of $181,350.00. Following the completion of the transaction, the chief financial officer now directly owns 9,644 shares in the company, valued at $777,306.40. This trade represents a 18.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pathward Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of CASH. Revolve Wealth Partners LLC bought a new stake in shares of Pathward Financial in the 4th quarter worth approximately $267,437,000. FMR LLC raised its stake in Pathward Financial by 6.9% during the third quarter. FMR LLC now owns 2,052,287 shares of the savings and loans company’s stock valued at $135,471,000 after buying an additional 132,067 shares during the last quarter. State Street Corp boosted its holdings in Pathward Financial by 1.4% in the third quarter. State Street Corp now owns 1,274,851 shares of the savings and loans company’s stock worth $84,218,000 after acquiring an additional 17,004 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Pathward Financial by 2.8% in the third 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. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Pathward Financial by 0.5% during 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. Hedge funds and other institutional investors own 92.66% of the company’s stock.

About Pathward Financial

(Get Free Report)

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.

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