Piper Sandler Cuts Pathward Financial (NASDAQ:CASH) Price Target to $91.00

Pathward Financial (NASDAQ:CASH) had its price objective reduced by Piper Sandler from $94.00 to $91.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the savings and loans company’s stock.

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

Pathward Financial Price Performance

CASH stock opened at $79.77 on Wednesday. The firm has a 50 day moving average of $78.42 and a 200-day moving average of $71.50. The firm has a market capitalization of $1.92 billion, a P/E ratio of 11.63 and a beta of 0.72. Pathward Financial has a 12 month low of $46.68 and a 12 month high of $86.00. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.24 by $0.05. The firm had revenue of $173.51 million during the quarter, compared to the consensus estimate of $173,273.50 billion. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $1.06 EPS. As a group, sell-side analysts predict that Pathward Financial will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

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

Insiders Place Their Bets

In other Pathward Financial news, CFO Greg Sigrist sold 2,250 shares of Pathward Financial stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $80.60, for a total transaction of $181,350.00. Following the transaction, the chief financial officer now directly owns 9,644 shares of the company’s stock, valued at approximately $777,306.40. This trade represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Pathward Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP boosted its position in Pathward Financial by 419.0% during the second quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock valued at $29,000 after buying an additional 419 shares during the period. Financial Management Professionals Inc. bought a new stake in shares of Pathward Financial in the 3rd quarter valued at about $29,000. Point72 DIFC Ltd purchased a new stake in Pathward Financial during the 3rd quarter valued at about $35,000. USA Financial Formulas bought a new position in Pathward Financial during the 3rd quarter worth approximately $56,000. Finally, nVerses Capital LLC purchased a new position in Pathward Financial in the 3rd quarter worth approximately $79,000. Institutional investors 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.