Pathward Financial (NASDAQ:CASH) Given New $94.00 Price Target at Piper Sandler

Pathward Financial (NASDAQ:CASH - Free Report) had its target price lifted by Piper Sandler from $82.00 to $94.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the savings and loans company's stock.

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

Pathward Financial Stock Performance

CASH stock traded up $0.46 during midday trading on Monday, reaching $74.08. 156,215 shares of the company's stock traded hands, compared to its average volume of 185,741. The firm has a market capitalization of $1.79 billion, a PE ratio of 11.17 and a beta of 0.69. The company has a 50-day moving average price of $78.10 and a two-hundred day moving average price of $68.32. 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.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.08. The firm had revenue of $167.90 million for 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 was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 EPS. As a group, equities analysts anticipate that Pathward Financial will post 7.05 EPS for the current year.

Pathward Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Tuesday, December 10th. Pathward Financial's payout ratio is currently 3.02%.

Insider Activity at Pathward Financial

In other news, CFO Greg Sigrist sold 2,250 shares of the company'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. This represents a 18.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Institutional Trading of Pathward Financial

Several hedge funds have recently added to or reduced their stakes in CASH. Tidal Investments LLC bought a new stake in Pathward Financial in the third quarter valued at approximately $725,000. Wilmington Savings Fund Society FSB bought a new stake in Pathward Financial during the 3rd quarter valued at $264,000. Geode Capital Management LLC boosted its position in Pathward Financial by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 699,884 shares of the savings and loans company's stock valued at $46,206,000 after buying an additional 18,936 shares during the period. Barclays PLC boosted its position in Pathward Financial by 83.1% during the 3rd quarter. Barclays PLC now owns 56,327 shares of the savings and loans company's stock valued at $3,718,000 after buying an additional 25,570 shares during the period. Finally, Orion Portfolio Solutions LLC increased its position in shares of Pathward Financial by 27.2% in the third quarter. Orion Portfolio Solutions LLC now owns 6,308 shares of the savings and loans company's stock valued at $416,000 after acquiring an additional 1,350 shares during the period. 92.66% of the stock is owned by 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.