Short Interest in Pathward Financial, Inc. (NASDAQ:CASH) Declines By 10.4%

Pathward Financial, Inc. (NASDAQ:CASH) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,550,000 shares, a decline of 10.4% from the March 31st total of 1,730,000 shares. Based on an average daily volume of 179,200 shares, the days-to-cover ratio is currently 8.6 days. Currently, 6.2% of the shares of the stock are sold short.

Insider Buying and Selling at Pathward Financial

In other Pathward Financial news, President Anthony M. Sharett sold 1,000 shares of Pathward Financial stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $47.50, for a total transaction of $47,500.00. Following the transaction, the president now directly owns 33,146 shares of the company’s stock, valued at $1,574,435. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of Pathward Financial

Several large investors have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC boosted its holdings in Pathward Financial by 1.5% in the fourth quarter. SummerHaven Investment Management LLC now owns 14,259 shares of the savings and loans company’s stock valued at $755,000 after acquiring an additional 208 shares in the last quarter. Diversified Trust Co boosted its holdings in Pathward Financial by 4.1% in the first quarter. Diversified Trust Co now owns 7,777 shares of the savings and loans company’s stock valued at $393,000 after acquiring an additional 305 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Pathward Financial by 10.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,843 shares of the savings and loans company’s stock valued at $256,000 after acquiring an additional 441 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Pathward Financial by 24.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,535 shares of the savings and loans company’s stock valued at $134,000 after acquiring an additional 500 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Pathward Financial by 11.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,498 shares of the savings and loans company’s stock valued at $278,000 after acquiring an additional 556 shares in the last quarter. Institutional investors own 92.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Pathward Financial from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, April 5th. Piper Sandler decreased their price target on shares of Pathward Financial from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th.

Pathward Financial Stock Down 1.5 %

Shares of NASDAQ CASH opened at $52.14 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.05. Pathward Financial has a 52 week low of $41.34 and a 52 week high of $60.49. The firm’s fifty day moving average is $50.04 and its 200 day moving average is $50.14. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 7.83 and a beta of 0.71.

Pathward Financial (NASDAQ:CASH) last issued its earnings results on Wednesday, April 24th. The savings and loans company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.37 by $0.19. Pathward Financial had a net margin of 22.90% and a return on equity of 25.09%. The company had revenue of $247.25 million for the quarter, compared to the consensus estimate of $240.46 million. During the same period in the previous year, the firm earned $2.18 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities research analysts expect that Pathward Financial will post 6.43 earnings per share for the current year.

Pathward Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.38%. The ex-dividend date was Monday, March 11th. Pathward Financial’s dividend payout ratio (DPR) is currently 3.00%.

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.