Piper Sandler Lowers Pathward Financial (NASDAQ:CASH) Price Target to $91.00

Pathward Financial (NASDAQ:CASH) had its target price cut by analysts at Piper Sandler from $94.00 to $91.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the savings and loans company’s stock. Piper Sandler’s price objective suggests a potential upside of 18.10% from the company’s current price.

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

Pathward Financial Price Performance

NASDAQ CASH traded down $1.38 on Wednesday, hitting $77.06. The company had a trading volume of 87,062 shares, compared to its average volume of 171,031. Pathward Financial has a 12-month low of $46.68 and a 12-month high of $86.00. The company has a market capitalization of $1.86 billion, a PE ratio of 11.62 and a beta of 0.72. The company’s fifty day moving average price is $78.58 and its 200-day moving average price is $71.10. 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 announced its quarterly earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. The firm had revenue of $173.51 million for the quarter, compared to analysts’ expectations of $173,273.50 billion. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 EPS. As a group, analysts predict that Pathward Financial will post 7.29 earnings per share for the current year.

Insider Buying and Selling

In other Pathward Financial news, CFO Greg Sigrist sold 2,250 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $80.60, for a total value of $181,350.00. Following the transaction, the chief financial officer now directly owns 9,644 shares in the company, valued at $777,306.40. This represents a 18.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Pathward Financial

Several hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. acquired a new stake in shares of Pathward Financial in the fourth quarter valued at approximately $10,865,000. FMR LLC lifted its holdings in shares of Pathward Financial by 6.9% during the third 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. Marshall Wace LLP lifted its holdings in shares of Pathward Financial by 321.9% during the second 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 period. Foundry Partners LLC lifted its holdings in shares of Pathward Financial by 59.3% during the third 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 period. Finally, Algert Global LLC lifted its holdings in Pathward Financial by 83.1% in the second quarter. Algert Global LLC now owns 80,376 shares of the savings and loans company’s stock valued at $4,547,000 after acquiring an additional 36,475 shares during the period. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

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.