Pathward Financial (NASDAQ:CASH) Shares Gap Down – Here’s What Happened

Pathward Financial, Inc. (NASDAQ:CASH)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $67.55, but opened at $64.60. Pathward Financial shares last traded at $66.91, with a volume of 36,211 shares.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their target price on Pathward Financial from $94.00 to $91.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd.

Pathward Financial Trading Up 0.9 %

The firm’s 50 day moving average price is $74.79 and its 200-day moving average price is $75.54. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76. The stock has a market cap of $1.62 billion, a P/E ratio of 9.88 and a beta of 0.44.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings data on Tuesday, January 21st. The savings and loans company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. The business had revenue of $173.51 million for the quarter, compared to analysts’ expectations of $173.27 million. During the same period in the prior year, the firm posted $1.06 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts forecast that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 13th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.30%. Pathward Financial’s payout ratio is 2.92%.

Hedge Funds Weigh In On Pathward Financial

Several hedge funds and other institutional investors have recently bought and sold shares of CASH. Geode Capital Management LLC raised its holdings in shares of Pathward Financial by 2.8% during the third quarter. Geode Capital Management LLC now owns 699,884 shares of the savings and loans company’s stock valued at $46,206,000 after purchasing an additional 18,936 shares during the last quarter. Meritage Portfolio Management purchased a new stake in Pathward Financial during the 4th quarter valued at $435,000. Assenagon Asset Management S.A. bought a new position in shares of Pathward Financial during the 4th quarter valued at $10,865,000. RMR Wealth Builders boosted its stake in shares of Pathward Financial by 88.3% in the 4th quarter. RMR Wealth Builders now owns 40,406 shares of the savings and loans company’s stock worth $2,973,000 after buying an additional 18,947 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Pathward Financial in the 4th quarter worth $3,734,999,000. Institutional investors own 92.66% of the company’s stock.

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.