Pathward Financial (NASDAQ:CASH) Sets New 1-Year High – What’s Next?

Pathward Financial, Inc. (NASDAQ:CASH)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $74.77 and last traded at $74.44, with a volume of 35711 shares changing hands. The stock had previously closed at $73.74.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CASH shares. Piper Sandler increased their price target on Pathward Financial from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods raised their price objective on Pathward Financial from $58.00 to $67.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th.

Pathward Financial Trading Up 0.3 %

The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 11.17 and a beta of 0.68. The firm’s 50 day moving average is $66.12 and its two-hundred day moving average is $59.15. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. Pathward Financial had a net margin of 22.10% and a return on equity of 23.59%. The company had revenue of $176.73 million for the quarter, compared to the consensus estimate of $176.63 million. During the same period in the previous year, the firm earned $1.76 EPS. Pathward Financial’s revenue was up 7.0% on a year-over-year basis. Equities analysts anticipate that Pathward Financial, Inc. will post 6.54 EPS for the current year.

Pathward Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were given a $0.05 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.27%. Pathward Financial’s dividend payout ratio (DPR) is presently 3.00%.

Insiders Place Their Bets

In related news, Director Douglas J. Hajek sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 19,531 shares of the company’s stock, valued at approximately $1,267,757.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, President Anthony M. Sharett sold 3,100 shares of Pathward Financial stock in a transaction that occurred 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 sale, the president now owns 30,046 shares of the company’s stock, valued at approximately $1,995,054.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas J. Hajek sold 2,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $64.91, for a total transaction of $129,820.00. Following the completion of the transaction, 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 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

Hedge funds have recently modified their holdings of the company. Illinois Municipal Retirement Fund lifted its stake in shares of Pathward Financial by 1.4% during the first quarter. Illinois Municipal Retirement Fund now owns 14,900 shares of the savings and loans company’s stock valued at $752,000 after acquiring an additional 212 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of Pathward Financial by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 14,728 shares of the savings and loans company’s stock valued at $833,000 after purchasing an additional 288 shares in the last quarter. Diversified Trust Co boosted its position in Pathward Financial by 4.1% during the 1st quarter. Diversified Trust Co now owns 7,777 shares of the savings and loans company’s stock worth $393,000 after acquiring an additional 305 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Pathward Financial by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 12,803 shares of the savings and loans company’s stock valued at $724,000 after purchasing an additional 315 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in Pathward Financial by 7.1% during the 1st quarter. ProShare Advisors LLC now owns 5,247 shares of the savings and loans company’s stock worth $265,000 after buying an additional 346 shares in the last quarter. 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.