Pathward Financial (NASDAQ:CASH) Price Target Increased to $67.00 by Analysts at Keefe, Bruyette & Woods

Pathward Financial (NASDAQ:CASH) had its target price hoisted by Keefe, Bruyette & Woods from $58.00 to $67.00 in a research note published on Thursday morning, Benzinga reports. They currently have a market perform rating on the savings and loans company’s stock.

Separately, Piper Sandler upped their price target on Pathward Financial from $68.00 to $75.00 and gave the stock an overweight rating in a report on Thursday.

Pathward Financial Price Performance

CASH stock opened at $68.21 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.72 billion, a PE ratio of 10.24 and a beta of 0.68. Pathward Financial has a 12-month low of $41.79 and a 12-month high of $69.63. The business’s fifty day moving average price is $56.78 and its 200 day moving average price is $52.96.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. Pathward Financial had a return on equity of 24.08% and a net margin of 22.10%. The company had revenue of $176.73 million for the quarter, compared to the consensus estimate of $176.63 million. During the same quarter in the prior year, the business earned $1.76 EPS. Pathward Financial’s revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts anticipate that Pathward Financial will post 6.47 EPS for the current year.

Pathward Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Tuesday, June 11th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 11th. This represents a $0.20 annualized dividend and a yield of 0.29%. Pathward Financial’s dividend payout ratio (DPR) is 3.00%.

Insider Transactions at Pathward Financial

In other news, Director Kendall E. Stork sold 2,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $53.53, for a total value of $107,060.00. Following the transaction, the director now owns 11,213 shares in the company, valued at approximately $600,231.89. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC increased its holdings in shares of Pathward Financial by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 14,728 shares of the savings and loans company’s stock valued at $833,000 after acquiring an additional 288 shares during the last quarter. RMR Wealth Builders purchased a new position in shares of Pathward Financial in the 2nd quarter valued at about $758,000. Gladius Capital Management LP purchased a new position in Pathward Financial during the 2nd quarter worth approximately $31,000. Assenagon Asset Management S.A. grew its stake in Pathward Financial by 103.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 149,143 shares of the savings and loans company’s stock worth $8,437,000 after buying an additional 75,792 shares during the last quarter. Finally, Diversified Trust Co grew its stake in Pathward Financial by 5.0% during the 2nd quarter. Diversified Trust Co now owns 8,167 shares of the savings and loans company’s stock worth $462,000 after buying an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 92.66% of the company’s stock.

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.