Pathward Financial, Inc. (NASDAQ:CASH) Sees Significant Decrease in Short Interest

Pathward Financial, Inc. (NASDAQ:CASH - Get Free Report) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,720,000 shares, a decrease of 7.0% from the October 15th total of 1,850,000 shares. Based on an average trading volume of 176,600 shares, the days-to-cover ratio is currently 9.7 days. Currently, 7.0% of the company's shares are short sold.

Analyst Ratings Changes

Several research analysts have recently weighed in on CASH shares. Piper Sandler upped their price target on shares of Pathward Financial from $75.00 to $82.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price objective on shares of Pathward Financial from $58.00 to $67.00 and gave the company a "market perform" rating in a report on Thursday, July 25th.

Insider Activity

In other Pathward Financial news, CFO Greg Sigrist sold 2,250 shares of Pathward Financial stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $80.60, for a total transaction of $181,350.00. Following the transaction, the chief financial officer now directly owns 9,644 shares in the company, valued at approximately $777,306.40. The trade was a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Anthony M. Sharett sold 3,100 shares of the stock in a transaction dated 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. This trade represents a 9.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,350 shares of company stock valued at $517,010 in the last ninety days. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CASH. FMR LLC increased its stake in shares of 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 acquiring an additional 132,067 shares in the last quarter. State Street Corp grew its stake in shares of Pathward Financial by 1.4% in the third quarter. State Street Corp now owns 1,274,851 shares of the savings and loans company's stock worth $84,218,000 after acquiring an additional 17,004 shares during the last quarter. Geode Capital Management LLC increased 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 in the last quarter. American Century Companies Inc. boosted 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Pathward Financial by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,413 shares of the savings and loans company's stock worth $21,679,000 after purchasing an additional 1,733 shares in the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.

Pathward Financial Stock Down 0.6 %

Shares of CASH traded down $0.49 during trading hours on Monday, hitting $79.14. The stock had a trading volume of 66,308 shares, compared to its average volume of 180,610. Pathward Financial has a 1-year low of $46.68 and a 1-year high of $83.83. The firm has a market capitalization of $1.98 billion, a P/E ratio of 12.01 and a beta of 0.67. The firm has a 50 day simple moving average of $70.83 and a 200-day simple moving average of $63.32. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $1.35 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 during the quarter, compared to the consensus estimate of $167.20 million. During the same quarter in the previous year, the company posted $1.36 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. Sell-side analysts predict that Pathward Financial will post 7.05 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, September 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. Pathward Financial's dividend payout ratio (DPR) is presently 3.02%.

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.