Pathward Financial (NASDAQ:CASH) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Pathward Financial (NASDAQ:CASHGet Rating) from a sell rating to a hold rating in a report published on Monday morning.

Other research analysts also recently issued reports about the company. Piper Sandler dropped their price target on Pathward Financial from $72.00 to $61.00 and set an overweight rating on the stock in a research report on Monday, July 11th. Keefe, Bruyette & Woods cut Pathward Financial from an outperform rating to a market perform rating and lowered their price objective for the company from $67.00 to $45.00 in a research report on Thursday, July 28th. Raymond James cut Pathward Financial from a strong-buy rating to an outperform rating and lowered their price objective for the company from $70.00 to $46.00 in a research report on Thursday, July 7th. Finally, B. Riley lowered their price objective on Pathward Financial from $55.00 to $48.00 in a research report on Thursday, July 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Pathward Financial has an average rating of Moderate Buy and a consensus price target of $50.00.

Pathward Financial Stock Performance

Shares of NASDAQ CASH opened at $33.28 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $39.64 and its two-hundred day moving average is $47.40. The company has a market cap of $977.27 million, a P/E ratio of 6.76 and a beta of 0.86. Pathward Financial has a 12 month low of $31.16 and a 12 month high of $65.96.

Pathward Financial (NASDAQ:CASHGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The savings and loans company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.84 by $0.09. The company had revenue of $126.15 million for the quarter, compared to the consensus estimate of $130.08 million. Pathward Financial had a return on equity of 14.73% and a net margin of 24.47%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. On average, equities analysts expect that Pathward Financial will post 4.14 EPS for the current year.

Pathward Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Thursday, June 9th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.60%. The ex-dividend date was Wednesday, June 8th. Pathward Financial’s dividend payout ratio is 4.07%.

Insider Activity at Pathward Financial

In related news, CEO Brett L. Pharr purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The shares were acquired at an average price of $37.25 per share, with a total value of $93,125.00. Following the purchase, the chief executive officer now directly owns 46,875 shares in the company, valued at $1,746,093.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Brett L. Pharr purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The shares were acquired at an average price of $37.25 per share, with a total value of $93,125.00. Following the purchase, the chief executive officer now directly owns 46,875 shares in the company, valued at $1,746,093.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Robert Kramer sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $41.48, for a total value of $41,480.00. Following the completion of the transaction, the director now directly owns 12,850 shares in the company, valued at approximately $533,018. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Pathward Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its stake in Pathward Financial by 54.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 52,178 shares of the savings and loans company’s stock worth $3,113,000 after purchasing an additional 18,372 shares in the last quarter. Sippican Capital Advisors boosted its stake in Pathward Financial by 5.0% in the first quarter. Sippican Capital Advisors now owns 17,976 shares of the savings and loans company’s stock worth $987,000 after purchasing an additional 863 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Pathward Financial by 15.4% in the fourth quarter. Public Sector Pension Investment Board now owns 503,055 shares of the savings and loans company’s stock worth $30,012,000 after purchasing an additional 67,000 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of Pathward Financial during the first quarter worth $456,000. Finally, Riverwater Partners LLC bought a new stake in shares of Pathward Financial during the first quarter worth $824,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Pathward Financial Company Profile

(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.

Read More

Want More Great Investing Ideas?

Receive News & Ratings for Pathward Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pathward Financial and related companies with MarketBeat.com's FREE daily email newsletter.