Pathward Financial, Inc. (NASDAQ:CASH) Short Interest Down 7.0% in October

Pathward Financial, Inc. (NASDAQ:CASH) saw a large decrease in short interest in 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 presently 9.7 days. Currently, 7.0% of the shares of the company are short sold.

Pathward Financial Stock Performance

NASDAQ:CASH opened at $78.97 on Wednesday. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 11.91 and a beta of 0.67. Pathward Financial has a 1 year low of $46.68 and a 1 year high of $83.83. The stock’s 50 day simple moving average is $71.06 and its two-hundred day simple moving average is $63.51. 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 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 net margin of 21.65% and a return on equity of 21.86%. The business had revenue of $167.90 million during the quarter, compared to analyst estimates of $167.20 million. During the same quarter last year, the business earned $1.36 earnings per share. Pathward Financial’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Pathward Financial will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.20 annualized dividend and a yield of 0.25%. Pathward Financial’s payout ratio is currently 3.02%.

Wall Street Analysts Forecast Growth

CASH has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of Pathward Financial from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price target on shares of Pathward Financial from $58.00 to $67.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th.

Insider Buying and Selling

In other Pathward Financial news, CFO Greg Sigrist sold 2,250 shares of the firm’s 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 sale, the chief financial officer now directly owns 9,644 shares of the company’s stock, valued at $777,306.40. This trade represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas J. Hajek sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $64.91, for a total value of $129,820.00. Following the completion of the transaction, the director now owns 19,531 shares in the company, valued at $1,267,757.21. The trade was a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,350 shares of company stock valued at $517,010. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pathward Financial

Several institutional investors have recently modified their holdings of the stock. Epoch Investment Partners Inc. lifted its position in Pathward Financial by 7.8% in the first quarter. Epoch Investment Partners Inc. now owns 269,425 shares of the savings and loans company’s stock worth $13,601,000 after buying an additional 19,539 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Pathward Financial by 103.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 149,143 shares of the savings and loans company’s stock worth $8,437,000 after acquiring an additional 75,792 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Pathward Financial during the 3rd quarter worth about $476,000. Algert Global LLC grew its holdings in Pathward Financial by 83.1% during the 2nd quarter. Algert Global LLC now owns 80,376 shares of the savings and loans company’s stock valued at $4,547,000 after purchasing an additional 36,475 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Pathward Financial by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,803 shares of the savings and loans company’s stock worth $724,000 after purchasing an additional 315 shares during the period. 92.66% of the stock is owned by 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.