Pathward Financial (NASDAQ:CASH) Reaches New 12-Month High – Still a Buy?

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

Analyst Upgrades and Downgrades

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

Pathward Financial Trading Up 2.7 %

The stock has a market capitalization of $2.13 billion, a PE ratio of 12.50 and a beta of 0.67. The firm has a 50-day moving average price of $72.24 and a 200-day moving average price of $64.27. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings data 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 analyst estimates of $167.20 million. During the same quarter last year, the firm posted $1.36 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts forecast that Pathward Financial, Inc. will post 7.05 EPS for the current fiscal 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 paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.20 annualized dividend and a yield of 0.23%. Pathward Financial’s dividend payout ratio is currently 3.02%.

Insider Activity

In related news, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $80.60, for a total value of $181,350.00. Following the completion of the sale, the chief financial officer now owns 9,644 shares in the company, valued at $777,306.40. The trade was a 18.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Anthony M. Sharett sold 3,100 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 $1,995,054.40. The trade was a 9.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,350 shares of company stock worth $517,010. 0.72% of the stock is currently owned by insiders.

Institutional Trading of Pathward Financial

A number of hedge funds have recently bought and sold shares of CASH. Mawer Investment Management Ltd. bought a new stake in Pathward Financial in the 2nd quarter worth approximately $12,376,000. F M Investments LLC purchased a new position in Pathward Financial in the 2nd quarter worth approximately $10,784,000. FMR LLC increased its stake in Pathward Financial by 6.9% in the 3rd quarter. FMR LLC now owns 2,052,287 shares of the savings and loans company’s stock worth $135,471,000 after purchasing an additional 132,067 shares during the period. American Century Companies Inc. increased its stake in Pathward Financial by 20.4% in the 2nd quarter. American Century Companies Inc. now owns 504,708 shares of the savings and loans company’s stock worth $28,551,000 after purchasing an additional 85,566 shares during the period. Finally, Foundry Partners LLC purchased a new position in Pathward Financial in the 2nd quarter worth approximately $4,669,000. 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.