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

Pathward Financial, Inc. (NASDAQ:CASH) saw a significant decline in short interest in 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. Currently, 6.2% of the company’s shares are sold short. Based on an average daily trading volume, of 179,200 shares, the days-to-cover ratio is currently 8.6 days.

Pathward Financial Stock Performance

Pathward Financial stock opened at $50.37 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.71 and a quick ratio of 0.71. The company has a fifty day moving average price of $50.02 and a two-hundred day moving average price of $50.19. Pathward Financial has a 12 month low of $41.34 and a 12 month high of $60.49. The company has a market cap of $1.28 billion, a PE ratio of 7.56 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 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.19. Pathward Financial had a return on equity of 25.09% and a net margin of 22.90%. The firm had revenue of $247.25 million for the quarter, compared to analyst estimates of $240.46 million. During the same period last year, the company earned $2.18 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts expect that Pathward Financial will post 6.43 earnings per share for the current year.

Pathward Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were paid a $0.05 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.40%. Pathward Financial’s payout ratio is 3.00%.

Insiders Place Their Bets

In other Pathward Financial news, President Anthony M. Sharett sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $47.50, for a total value of $47,500.00. Following the completion of the transaction, the president now owns 33,146 shares in the company, valued at approximately $1,574,435. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Pathward Financial

Several institutional investors have recently bought and sold shares of CASH. Goldman Sachs Group Inc. grew its stake in shares of Pathward Financial by 4.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,583,602 shares of the savings and loans company’s stock worth $83,820,000 after purchasing an additional 69,374 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Pathward Financial by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,528,223 shares of the savings and loans company’s stock worth $80,890,000 after purchasing an additional 9,536 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Pathward Financial during the 1st quarter valued at $17,819,000. Adirondack Retirement Specialists Inc. boosted its position in shares of Pathward Financial by 3.3% in the third quarter. Adirondack Retirement Specialists Inc. now owns 339,709 shares of the savings and loans company’s stock worth $15,657,000 after buying an additional 10,908 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Pathward Financial by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 307,377 shares of the savings and loans company’s stock valued at $16,269,000 after acquiring an additional 3,579 shares in the last quarter. Institutional investors and hedge funds own 92.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CASH. Keefe, Bruyette & Woods cut their price target on 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 cut their price target on shares of Pathward Financial from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th.

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.