Pathward Financial (NASDAQ:CASH) Price Target Raised to $88.00

Pathward Financial (NASDAQ:CASH - Free Report) had its target price lifted by Keefe, Bruyette & Woods from $86.00 to $88.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a market perform rating on the savings and loans company's stock.

Separately, Piper Sandler increased their price target on Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd.

Pathward Financial Stock Down 1.3%

NASDAQ CASH traded down $1.06 during trading hours on Friday, hitting $82.79. 221,997 shares of the company traded hands, compared to its average volume of 198,722. The business's 50-day moving average is $79.01 and its 200-day moving average is $76.58. Pathward Financial has a twelve month low of $59.25 and a twelve month high of $86.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.77. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 11.17 and a beta of 0.62.

Pathward Financial (NASDAQ:CASH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.71 by $0.40. Pathward Financial had a return on equity of 22.50% and a net margin of 22.69%. The firm had revenue of $262.90 million during the quarter, compared to analysts' expectations of $256.30 million. During the same period in the prior year, the firm posted $2.56 earnings per share. Sell-side analysts anticipate that Pathward Financial will post 7.26 earnings per share for the current year.

Pathward Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. Pathward Financial's payout ratio is 2.70%.

Insiders Place Their Bets

In other news, Director Douglas J. Hajek sold 1,850 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $79.26, for a total value of $146,631.00. Following the completion of the sale, the director directly owned 19,631 shares of the company's stock, valued at $1,555,953.06. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kendall E. Stork sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.33, for a total value of $317,320.00. Following the completion of the sale, the director directly owned 6,153 shares of the company's stock, valued at approximately $488,117.49. The trade was a 39.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,882 shares of company stock valued at $1,403,123. Corporate insiders own 1.23% of the company's stock.

Institutional Trading of Pathward Financial

Hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in Pathward Financial by 1,023.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,437 shares of the savings and loans company's stock worth $5,799,000 after purchasing an additional 71,458 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Pathward Financial by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 235,005 shares of the savings and loans company's stock worth $17,144,000 after purchasing an additional 6,305 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Pathward Financial during the 1st quarter worth approximately $572,000. GAMMA Investing LLC lifted its holdings in Pathward Financial by 8,971.9% during the 1st quarter. GAMMA Investing LLC now owns 45,813 shares of the savings and loans company's stock worth $3,342,000 after purchasing an additional 45,308 shares during the last quarter. Finally, Natixis Advisors LLC acquired a new stake in Pathward Financial during the 4th quarter worth approximately $1,739,000. 92.66% of the stock is owned by institutional investors and hedge funds.

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.