B. Riley Cuts Pathward Financial (NASDAQ:CASH) Price Target to $48.00

Pathward Financial (NASDAQ:CASHGet Rating) had its price objective reduced by B. Riley from $55.00 to $48.00 in a research note published on Thursday, The Fly reports.

CASH has been the subject of several other research reports. StockNews.com lowered shares of Pathward Financial from a hold rating to a sell rating in a research note on Wednesday, June 15th. Keefe, Bruyette & Woods downgraded shares of Pathward Financial from an outperform rating to a market perform rating and dropped their target price for the stock from $67.00 to $45.00 in a report on Thursday. Piper Sandler dropped their target price on shares of Pathward Financial from $72.00 to $61.00 and set an overweight rating on the stock in a report on Monday, July 11th. Finally, Raymond James downgraded shares of Pathward Financial from a strong-buy rating to an outperform rating and dropped their target price for the stock from $70.00 to $46.00 in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Pathward Financial presently has a consensus rating of Hold and a consensus target price of $50.00.

Pathward Financial Stock Down 0.8 %

CASH stock opened at $33.72 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.12. Pathward Financial has a 1 year low of $31.16 and a 1 year high of $65.96. The company has a fifty day simple moving average of $39.75 and a 200 day simple moving average of $47.61. The firm has a market cap of $990.19 million, a PE ratio of 6.28 and a beta of 0.96.

Pathward Financial (NASDAQ:CASHGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The savings and loans company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.09. Pathward Financial had a net margin of 26.84% and a return on equity of 15.34%. The business had revenue of $126.15 million during the quarter, compared to analyst estimates of $130.08 million. During the same quarter in the previous year, the business earned $1.21 EPS. Pathward Financial’s quarterly revenue was down 3.7% compared to the same quarter last year. Sell-side analysts anticipate that Pathward Financial will post 4.29 EPS for the current fiscal year.

Pathward Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Thursday, June 9th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.59%. Pathward Financial’s payout ratio is 3.72%.

Insider Transactions at Pathward Financial

In other news, Director Michael Robert Kramer sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $41.48, for a total transaction of $41,480.00. Following the transaction, the director now owns 12,850 shares in the company, valued at approximately $533,018. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Michael Robert Kramer sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $41.48, for a total transaction of $41,480.00. Following the transaction, the director now owns 12,850 shares in the company, valued at approximately $533,018. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Brett L. Pharr bought 2,500 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was acquired at an average cost of $40.00 per share, for a total transaction of $100,000.00. Following the purchase, the chief executive officer now owns 49,375 shares of the company’s stock, valued at $1,975,000. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

Institutional Trading of Pathward Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CASH. Quantbot Technologies LP bought a new stake in Pathward Financial in the first quarter valued at about $34,000. Advisor Group Holdings Inc. increased its stake in Pathward Financial by 27.2% in the first quarter. Advisor Group Holdings Inc. now owns 2,116 shares of the savings and loans company’s stock valued at $116,000 after acquiring an additional 453 shares during the period. Rockefeller Capital Management L.P. boosted its position in Pathward Financial by 2,079.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,983 shares of the savings and loans company’s stock valued at $118,000 after buying an additional 1,892 shares in the last quarter. USA Financial Portformulas Corp acquired a new position in Pathward Financial in the fourth quarter valued at about $121,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in Pathward Financial in the second quarter valued at about $126,000. Institutional investors own 80.28% of the company’s stock.

About Pathward Financial

(Get Rating)

Pathward Financial, Inc operates as the holding company for Pathward, National Association that 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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