Pathward Financial (NASDAQ:CASH) Stock Price Breaks Below 50 Day Moving Average - Here's What Happened

Key Points

• Pathward Financial shares fell below their 50-day moving average of $75.74, reaching $74.34 before trading at $75.12.
• Analysts maintain a consensus Buy rating and an average price target of $101; recent target cuts included KBW lowering its target to $97 and Piper Sandler to $105.
• The company beat quarterly earnings and revenue estimates, reporting EPS of $1.85 versus $1.58 expected and revenue of $183.12 million versus $179.10 million expected.

Pathward Financial, Inc. (NASDAQ:CASH - Get Free Report)'s share price passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $75.74 and traded as low as $74.34. Pathward Financial shares last traded at $75.12, with a volume of 164,126 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CASH. Weiss Ratings restated a "buy (b)" rating on shares of Pathward Financial in a research report on Tuesday, November 3rd. Keefe, Bruyette & Woods cut their target price on Pathward Financial from $108.00 to $97.00 and set an "outperform" rating on the stock in a research note on Thursday, July 23rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $105.00 price target (down from $107.00) on shares of Pathward Financial in a report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $101.00.

Pathward Financial Stock Performance

The company has a market capitalization of $1.56 billion, a PE ratio of 9.23 and a beta of 0.64. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04. The firm's 50-day simple moving average is $75.74 and its 200-day simple moving average is $84.96.

Pathward Financial (NASDAQ:CASH - Get Free Report) last issued its earnings results on Wednesday, October 21st. The savings and loans company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.27. The business had revenue of $183.12 million for the quarter, compared to the consensus estimate of $179.10 million. Pathward Financial had a net margin of 21.11% and a return on equity of 20.82%. On average, research analysts predict that Pathward Financial, Inc. will post 9.70 earnings per share for the current year.

Pathward Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were issued a $0.05 dividend. The ex-dividend date was Thursday, September 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. Pathward Financial's payout ratio is presently 2.46%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CASH. BlackRock Inc. bought a new stake in Pathward Financial during the 2nd quarter valued at $270,275,000. Neumeier Poma Investment Counsel LLC purchased a new stake in shares of Pathward Financial in the 2nd quarter worth $30,633,802. Bank of America Corp DE purchased a new stake in shares of Pathward Financial in the 2nd quarter worth $24,342,000. Allspring Global Investments Holdings LLC grew its position in shares of Pathward Financial by 49.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 506,415 shares of the savings and loans company's stock worth $37,333,000 after buying an additional 167,122 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Pathward Financial during the 2nd quarter worth $13,918,000. Institutional investors own 92.66% of the company's stock.

Pathward Financial Company Profile

Pathward Financial, Inc. is a financial services holding company whose principal subsidiary is Pathward, National Association. Formerly known as Meta Financial Group, the company adopted the Pathward name in 2022; its bank subsidiary was also renamed as part of the rebranding. Pathward provides banking, payments and specialty finance services to consumers and businesses across the United States. Its offerings include deposit accounts, prepaid and payment solutions, and services that support tax refund disbursements.

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