Shares of Pathward Financial, Inc. (NASDAQ: CASH – Get Rating) received a consensus rating of “moderate buy” from the six analysts who cover the company, MarketBeat reports. Two analysts rated the stock with a hold recommendation and two gave the company a buy recommendation. The 12-month average price target among analysts who have rated the stock over the past year is $50.00.
Several equity research analysts have weighed in on the company. Raymond James upgraded Pathward Financial from a ‘strong buy’ rating to an ‘outperform’ rating and reduced its target price for the stock from $70.00 to $46.00 in a Thursday, July 7 research note . Piper Sandler lowered its price target on Pathward Financial from $72.00 to $61.00 and set an “overweight” rating for the company in a Monday, July 11 report. TheStreet downgraded Pathward Financial from a “b-” rating to a “c+” rating in a report released on Monday. StockNews.com upgraded Pathward Financial from a “sell” rating to a “hold” rating in a Monday, Aug. 1, report. Finally, Keefe, Bruyette & Woods downgraded Pathward Financial from an “outperforming” rating to a “market performing” rating and lowered its price target for the company from $67.00 to $45.00 in a report for Thursday 28 July.
Insider Trading at Pathward Financial
Separately, Executive Vice President Charles C. Ingram acquired 1,250 shares of the company in a transaction dated Monday, August 8. The shares were purchased at an average price of $34.25 per share, with a total value of $42,812.50. Following the transaction, the executive vice president now directly owns 22,026 shares of the company, valued at $754,390.50. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other news from Pathward Financial, Director Michael Robert Kramer sold 1,000 shares in a trade dated Tuesday, May 31. The shares were sold at an average price of $41.48, for a total value of $41,480.00. Following the completion of the sale, the administrator now owns 12,850 shares of the company, valued at approximately $533,018. The transaction was disclosed in a document filed with the SEC, which is available at this link. Additionally, Executive Vice President Charles C. Ingram acquired 1,250 shares of the company in a transaction on Monday, August 8. The shares were purchased at an average price of $34.25 per share, with a total value of $42,812.50. Following the purchase, the executive vice president now owns 22,026 shares of the company, valued at approximately $754,390.50. Disclosure of this purchase can be found here. In the past 90 days, insiders bought 12,250 shares of the company worth $436,228 and sold 2,750 shares worth $103,725. Insiders hold 2.00% of the shares of the company.
Institutional investors weigh in on Pathward Financial
Several institutional investors and hedge funds have recently increased or reduced their holdings in CASH. Quantbot Technologies LP purchased a new stake in Pathward Financial in Q1 worth approximately $34,000. Lazard Asset Management LLC increased its stake in shares of Pathward Financial by 58.2% during the 2nd quarter. Lazard Asset Management LLC now owns 2,219 shares of the savings and loan company worth $85,000 after buying 816 additional shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Pathward Financial by 19.1% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 2,507 shares of the savings and loan company worth $97,000 after buying 402 more shares in the last quarter. Advisor Group Holdings Inc. increased its stake in shares of Pathward Financial by 27.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,116 shares of the savings and loan company worth $116,000 after buying 453 additional shares in the last quarter. Finally, Rockefeller Capital Management LP increased its stake in shares of Pathward Financial by 2,079.1% during the 4th quarter. Rockefeller Capital Management LP now owns 1,983 shares of the savings and loan company worth $118,000 after buying 1,892 more shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s shares.
Pathward Financial Trading up 1.8%
Shares of CASH opened at $37.22 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt ratio of 0.02. The stock has a market capitalization of $1.08 billion, a P/E ratio of 7.57 and a beta of 0.86. The stock has a 50-day simple moving average of $38.37 and a 200-day simple moving average of $45.67. Pathward Financial has a 1-year minimum of $31.16 and a 1-year maximum of $65.96.
Pathward Financial (NASDAQ:CASH – Get Rating) last released its results on Wednesday, July 27. The savings and loan company reported earnings per share of $0.93 for the quarter, beating the consensus estimate of $0.83 by $0.10. Pathward Financial had a return on equity of 14.73% and a net margin of 24.47%. The company posted revenue of $126.15 million in the quarter, compared to $130.08 million expected by analysts. In the same period a year earlier, the company had earned earnings per share of $1.21. The company’s quarterly revenue was down 3.7% year over year. On average, research analysts predict that Pathward Financial will post earnings per share of 4.14 for the current fiscal year.
Pathward Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 1. Shareholders of record on Thursday, June 9 received a dividend of $0.05 per share. The ex-dividend date was Wednesday, June 8. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 0.54%. Pathward Financial’s dividend payout ratio (DPR) is currently 4.07%.
About Pathward Financial
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Pathward Financial, Inc operates as a holding company for Pathward, National Association which provides various banking products and services in the United States. It operates through three segments: Consumer, Commercial and Corporate Services/Other. The company offers demand deposit accounts, savings accounts, money market savings accounts and certificate accounts.
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