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

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

Separately, Keefe, Bruyette & Woods decreased 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 Stock Performance

NASDAQ:CASH opened at $68.69 on Thursday. The stock has a 50-day moving average price of $57.07 and a 200 day moving average price of $53.10. The company has a current ratio of 0.73, a quick ratio of 0.71 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 stock has a market capitalization of $1.74 billion, a P/E ratio of 10.31 and a beta of 0.68.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings data on Wednesday, July 24th. The savings and loans company reported $1.66 earnings per share (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 analysts’ expectations of $176.63 million. During the same quarter last year, the business posted $1.76 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts forecast that Pathward Financial will post 6.6 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Tuesday, June 11th were given a dividend of $0.05 per share. 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 dividend payout ratio is currently 3.00%.

Insider Activity at Pathward Financial

In related news, Director Kendall E. Stork sold 2,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $53.53, for a total value of $107,060.00. Following the completion of the transaction, the director now directly owns 11,213 shares of the company’s stock, valued at $600,231.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. SummerHaven Investment Management LLC grew its holdings in shares of Pathward Financial by 1.5% in the fourth quarter. SummerHaven Investment Management LLC now owns 14,259 shares of the savings and loans company’s stock valued at $755,000 after purchasing an additional 208 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Pathward Financial by 1.4% in 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 purchasing an additional 212 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Pathward Financial by 4.1% in the first quarter. Diversified Trust Co now owns 7,777 shares of the savings and loans company’s stock valued at $393,000 after purchasing an additional 305 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Pathward Financial by 7.1% in the first quarter. ProShare Advisors LLC now owns 5,247 shares of the savings and loans company’s stock valued at $265,000 after purchasing an additional 346 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Pathward Financial by 5.7% in the second quarter. Harbor Capital Advisors Inc. now owns 7,419 shares of the savings and loans company’s stock worth $420,000 after buying an additional 397 shares during the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.

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.