Pathward Financial (NASDAQ:CASH) Hits New 52-Week High – Should You Buy?

Pathward Financial, Inc. (NASDAQ:CASH) shares reached a new 52-week high during trading on Monday . The stock traded as high as $84.93 and last traded at $84.61, with a volume of 11404 shares. The stock had previously closed at $82.90.

Analysts Set New Price Targets

Separately, Piper Sandler boosted their target price on shares of Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, October 24th.

Pathward Financial Stock Performance

The business’s fifty day moving average price is $72.88 and its 200-day moving average price is $64.69. The stock has a market capitalization of $2.09 billion, a PE ratio of 12.59 and a beta of 0.67. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.74 and a quick ratio of 0.63.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.08. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The firm had revenue of $167.90 million during the quarter, compared to analyst estimates of $167.20 million. During the same period in the previous year, the business earned $1.36 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities research analysts expect that Pathward Financial, Inc. will post 7.05 EPS for the current year.

Pathward Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.20 annualized dividend and a yield of 0.24%. Pathward Financial’s payout ratio is presently 3.02%.

Insiders Place Their Bets

In other news, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $66.40, for a total value of $205,840.00. Following the completion of the sale, the president now owns 30,046 shares of the company’s stock, valued at approximately $1,995,054.40. This represents a 9.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Greg Sigrist sold 2,250 shares of Pathward Financial stock in a transaction on Friday, November 8th. The stock was sold at an average price of $80.60, for a total transaction of $181,350.00. Following the completion of the transaction, the chief financial officer now owns 9,644 shares in the company, valued at approximately $777,306.40. The trade was a 18.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,350 shares of company stock valued at $517,010 in the last quarter. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Pathward Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC lifted its position in Pathward Financial by 6.9% in the third quarter. FMR LLC now owns 2,052,287 shares of the savings and loans company’s stock valued at $135,471,000 after purchasing an additional 132,067 shares during the last quarter. State Street Corp raised its holdings in Pathward Financial by 1.4% during the 3rd quarter. State Street Corp now owns 1,274,851 shares of the savings and loans company’s stock valued at $84,218,000 after buying an additional 17,004 shares during the last quarter. Geode Capital Management LLC raised its holdings in Pathward Financial by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 699,884 shares of the savings and loans company’s stock valued at $46,206,000 after buying an additional 18,936 shares during the last quarter. American Century Companies Inc. boosted its position in Pathward Financial by 20.4% during the 2nd quarter. American Century Companies Inc. now owns 504,708 shares of the savings and loans company’s stock valued at $28,551,000 after buying an additional 85,566 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Pathward Financial by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 328,413 shares of the savings and loans company’s stock valued at $21,679,000 after acquiring an additional 1,733 shares during the period. 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.