Pathward Financial (NASDAQ:CASH) Reaches New 12-Month High – Here’s What Happened

Shares of Pathward Financial, Inc. (NASDAQ:CASH) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $84.93 and last traded at $84.61, with a volume of 11404 shares changing hands. The stock had previously closed at $82.90.

Analyst Ratings Changes

Separately, Piper Sandler boosted their target price on Pathward Financial from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th.

Pathward Financial Stock Performance

The firm has a market cap of $2.09 billion, a P/E ratio of 12.59 and a beta of 0.67. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. The business’s 50-day simple moving average is $72.88 and its 200 day simple moving average is $64.69.

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

Pathward Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.20 annualized dividend and a yield of 0.24%. Pathward Financial’s dividend payout ratio (DPR) is presently 3.02%.

Insiders Place Their Bets

In related news, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $66.40, for a total value of $205,840.00. Following the completion of the transaction, the president now owns 30,046 shares of the company’s stock, valued at approximately $1,995,054.40. This represents a 9.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Greg Sigrist sold 2,250 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $80.60, for a total value of $181,350.00. Following the sale, the chief financial officer now directly owns 9,644 shares in the company, valued at approximately $777,306.40. This represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,350 shares of company stock worth $517,010 over the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its stake in Pathward Financial by 103.3% during the second quarter. Assenagon Asset Management S.A. now owns 149,143 shares of the savings and loans company’s stock valued at $8,437,000 after acquiring an additional 75,792 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Pathward Financial in the third quarter worth about $476,000. Foundry Partners LLC lifted its position in shares of Pathward Financial by 59.3% in the third quarter. Foundry Partners LLC now owns 131,458 shares of the savings and loans company’s stock worth $8,678,000 after buying an additional 48,917 shares in the last quarter. Algert Global LLC boosted its stake in Pathward Financial by 83.1% during the second quarter. Algert Global LLC now owns 80,376 shares of the savings and loans company’s stock valued at $4,547,000 after buying an additional 36,475 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Pathward Financial by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,803 shares of the savings and loans company’s stock valued at $724,000 after buying an additional 315 shares in the last quarter. 92.66% of the stock is currently owned by institutional investors.

Pathward Financial Company Profile

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.