Pathward Financial (NASDAQ:CASH) Given New $91.00 Price Target at Piper Sandler

Pathward Financial (NASDAQ:CASH) had its price objective dropped by equities researchers at Piper Sandler from $94.00 to $91.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the savings and loans company’s stock. Piper Sandler’s target price indicates a potential upside of 15.34% from the company’s current price.

Separately, Keefe, Bruyette & Woods increased their price target on Pathward Financial from $76.00 to $90.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Pathward Financial Stock Performance

Shares of NASDAQ CASH opened at $78.90 on Wednesday. The stock has a 50 day moving average price of $78.44 and a 200 day moving average price of $71.29. Pathward Financial has a 52 week low of $46.68 and a 52 week high of $86.00. 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 stock has a market capitalization of $1.90 billion, a PE ratio of 11.50 and a beta of 0.72.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.24 by $0.05. Pathward Financial had a return on equity of 21.98% and a net margin of 21.91%. The firm had revenue of $173.51 million during the quarter, compared to analysts’ expectations of $173,273.50 billion. During the same period in the prior year, the firm posted $1.06 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Analysts predict that Pathward Financial will post 7.29 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Greg Sigrist sold 2,250 shares of the firm’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 directly owns 9,644 shares of the company’s stock, valued at $777,306.40. This trade represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.23% of the company’s stock.

Institutional Trading of Pathward Financial

Several hedge funds have recently added to or reduced their stakes in CASH. Revolve Wealth Partners LLC acquired a new stake in Pathward Financial during the 4th quarter worth approximately $267,437,000. Assenagon Asset Management S.A. acquired a new stake in Pathward Financial during the 4th quarter worth approximately $10,865,000. FMR LLC lifted its holdings in Pathward Financial by 6.9% during 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 last quarter. Marshall Wace LLP lifted its holdings in Pathward Financial by 321.9% during the 2nd quarter. Marshall Wace LLP now owns 93,127 shares of the savings and loans company’s stock worth $5,268,000 after purchasing an additional 71,054 shares during the last quarter. Finally, Foundry Partners LLC lifted its holdings in Pathward Financial by 59.3% during the 3rd quarter. Foundry Partners LLC now owns 131,458 shares of the savings and loans company’s stock worth $8,678,000 after purchasing an additional 48,917 shares during the last quarter. 92.66% of the stock is owned by institutional investors and hedge funds.

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.