Piper Sandler Forecasts Strong Price Appreciation for Pathward Financial (NASDAQ:CASH) Stock

Pathward Financial (NASDAQ:CASH) had its target price upped by equities researchers at Piper Sandler from $82.00 to $94.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the savings and loans company’s stock. Piper Sandler’s price objective would indicate a potential upside of 25.60% from the stock’s previous close.

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

Pathward Financial Trading Up 1.0 %

Shares of Pathward Financial stock opened at $74.84 on Monday. Pathward Financial has a 1 year low of $46.68 and a 1 year high of $86.00. 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 cap of $1.81 billion, a PE ratio of 11.29 and a beta of 0.69. The firm has a fifty day moving average price of $78.10 and a 200 day moving average price of $68.32.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings data 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. The business had revenue of $167.90 million during the quarter, compared to analysts’ expectations of $167.20 million. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 EPS. Equities research analysts predict that Pathward Financial will post 7.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 9,644 shares of the company’s stock, valued at approximately $777,306.40. The trade was a 18.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pathward Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CASH. FMR LLC raised its position in shares of 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. State Street Corp increased its stake 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 worth $84,218,000 after buying an additional 17,004 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Pathward Financial by 2.8% during the third quarter. Geode Capital Management LLC now owns 699,884 shares of the savings and loans company’s stock valued at $46,206,000 after acquiring an additional 18,936 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Pathward Financial by 20.4% in the second quarter. American Century Companies Inc. now owns 504,708 shares of the savings and loans company’s stock valued at $28,551,000 after acquiring an additional 85,566 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 worth $21,679,000 after acquiring an additional 1,733 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.