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 trading on Monday . The company traded as high as $84.93 and last traded at $84.61, with a volume of 11404 shares traded. The stock had previously closed at $82.90.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted 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 Stock Up 2.7 %

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

Pathward Financial (NASDAQ:CASH) last posted its earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $167.90 million for the quarter, compared to analysts’ expectations of $167.20 million. During the same period in the previous year, the firm earned $1.36 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. As a group, analysts forecast that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.23%. Pathward Financial’s dividend payout ratio (DPR) is 3.02%.

Insiders Place Their Bets

In other Pathward Financial news, President Anthony M. Sharett sold 3,100 shares of the stock in a transaction 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 transaction, the president now owns 30,046 shares in the company, valued at approximately $1,995,054.40. This represents a 9.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Greg Sigrist sold 2,250 shares of the stock in a transaction 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 in the company, valued at approximately $777,306.40. This represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,350 shares of company stock worth $517,010. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pathward Financial

A number of institutional investors have recently modified their holdings of CASH. SummerHaven Investment Management LLC boosted its position in shares of Pathward Financial by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 14,728 shares of the savings and loans company’s stock valued at $833,000 after buying an additional 288 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Pathward Financial by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,803 shares of the savings and loans company’s stock valued at $724,000 after buying an additional 315 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Pathward Financial by 7.1% during the first quarter. ProShare Advisors LLC now owns 5,247 shares of the savings and loans company’s stock valued at $265,000 after buying an additional 346 shares during the last quarter. Diversified Trust Co boosted its position in shares of Pathward Financial by 5.0% during the second quarter. Diversified Trust Co now owns 8,167 shares of the savings and loans company’s stock valued at $462,000 after buying an additional 390 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Pathward Financial by 7.0% during the third quarter. HighTower Advisors LLC now owns 6,032 shares of the savings and loans company’s stock valued at $397,000 after buying an additional 393 shares during the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.

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.