Pathward Financial (NASDAQ:CASH) Hits New 12-Month High – Time to Buy?

Pathward Financial, Inc. (NASDAQ:CASH) reached a new 52-week high during trading on Wednesday . The stock traded as high as $79.05 and last traded at $79.05, with a volume of 9330 shares trading hands. The stock had previously closed at $72.11.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CASH. Piper Sandler upped their price target on shares of Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods upped their price target on Pathward Financial from $58.00 to $67.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th.

Pathward Financial Stock Performance

The business has a 50-day moving average of $68.80 and a two-hundred day moving average of $61.68. The company has a market cap of $1.99 billion, a P/E ratio of 10.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.74 and a quick ratio of 0.63.

Pathward Financial (NASDAQ:CASH) last issued its earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.08. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The firm had revenue of $167.90 million for the quarter, compared to analyst estimates of $167.20 million. During the same quarter in the prior year, the firm earned $1.36 earnings per share. Pathward Financial’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts predict that Pathward Financial, Inc. will post 7.05 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.25%. The ex-dividend date was Tuesday, September 10th. Pathward Financial’s payout ratio is currently 3.02%.

Insider Buying and Selling at Pathward Financial

In other Pathward Financial news, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $66.40, for a total value of $205,840.00. Following the completion of the sale, the president now directly owns 30,046 shares in the company, valued at $1,995,054.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Douglas J. Hajek sold 2,000 shares of the stock in a transaction on Thursday, September 12th. The stock was 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 directly owns 19,531 shares in the company, valued at approximately $1,267,757.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Anthony M. Sharett sold 3,100 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $66.40, for a total value of $205,840.00. Following the transaction, the president now owns 30,046 shares of the company’s stock, valued at approximately $1,995,054.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pathward Financial

A number of hedge funds have recently modified their holdings of CASH. Allspring Global Investments Holdings LLC grew its holdings in shares of Pathward Financial by 11.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,498 shares of the savings and loans company’s stock worth $278,000 after purchasing an additional 556 shares during the period. BNP Paribas Financial Markets lifted its stake in Pathward Financial by 116.9% during the 1st quarter. BNP Paribas Financial Markets now owns 26,317 shares of the savings and loans company’s stock worth $1,328,000 after acquiring an additional 14,181 shares in the last quarter. Gallacher Capital Management LLC acquired a new position in Pathward Financial during the 1st quarter worth about $410,000. Quantbot Technologies LP lifted its stake in Pathward Financial by 2,493.2% during the 1st quarter. Quantbot Technologies LP now owns 15,196 shares of the savings and loans company’s stock worth $767,000 after acquiring an additional 14,610 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in Pathward Financial by 1.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 14,900 shares of the savings and loans company’s stock worth $752,000 after acquiring an additional 212 shares in the last quarter. 92.66% of the stock is currently 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.