Pathward Financial (NASDAQ:CASH) Sets New 52-Week High – Time to Buy?

Pathward Financial, Inc. (NASDAQ:CASH)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $82.92 and last traded at $82.79, with a volume of 11073 shares trading hands. The stock had previously closed at $81.57.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CASH shares. Keefe, Bruyette & Woods upped their price objective on Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Piper Sandler increased their price target on Pathward Financial from $75.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th.

Pathward Financial Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. The company has a market cap of $2.00 billion, a P/E ratio of 12.08 and a beta of 0.67. The firm has a 50 day moving average price of $70.32 and a two-hundred day moving average price of $62.83.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.08. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The company had revenue of $167.90 million during the quarter, compared to the consensus estimate of $167.20 million. During the same quarter in the prior year, the company earned $1.36 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that Pathward Financial, Inc. will post 7.05 EPS for the current fiscal year.

Pathward Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.20 annualized dividend and a yield of 0.25%. Pathward Financial’s dividend payout ratio is currently 3.02%.

Insiders Place Their Bets

In other Pathward Financial news, President Anthony M. Sharett sold 3,100 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $66.40, for a total value of $205,840.00. Following the sale, the president now owns 30,046 shares of the company’s stock, valued at $1,995,054.40. This trade represents a 9.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Douglas J. Hajek sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $64.91, for a total value of $129,820.00. Following the completion of the sale, the director now directly owns 19,531 shares in the company, valued at approximately $1,267,757.21. The trade was a 9.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,350 shares of company stock worth $517,010 in the last quarter. 0.72% of the stock is owned by company insiders.

Institutional Trading of Pathward Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Opal Wealth Advisors LLC purchased a new stake in shares of Pathward Financial in the 2nd quarter valued at about $25,000. Quarry LP raised its holdings in shares of Pathward Financial by 419.0% in the 2nd quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock valued at $29,000 after acquiring an additional 419 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Pathward Financial during the 3rd quarter valued at about $29,000. Gladius Capital Management LP purchased a new position in shares of Pathward Financial during the 2nd quarter valued at about $31,000. Finally, USA Financial Formulas purchased a new position in shares of Pathward Financial during the 3rd quarter valued at about $56,000. Hedge funds and other institutional investors own 92.66% of the company’s stock.

Pathward Financial Company Profile

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.