Keefe, Bruyette & Woods Raises Pathward Financial (NASDAQ:CASH) Price Target to $90.00

Pathward Financial (NASDAQ:CASH) had its price objective lifted by Keefe, Bruyette & Woods from $76.00 to $90.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the savings and loans company’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 7.27% from the stock’s previous close.

Separately, Piper Sandler boosted their price target on Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th.

Pathward Financial Stock Performance

Shares of NASDAQ CASH traded up $0.92 during trading hours on Wednesday, hitting $83.90. 16,265 shares of the company’s stock were exchanged, compared to its average volume of 180,706. 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 capitalization of $2.02 billion, a price-to-earnings ratio of 12.65 and a beta of 0.69. The company’s 50-day moving average price is $74.54 and its 200-day moving average price is $65.74.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings results 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. 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 for the quarter, compared to analyst estimates of $167.20 million. During the same period in the previous year, the company posted $1.36 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts expect that Pathward Financial will post 7.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Douglas J. Hajek sold 2,000 shares of the company’s stock in a transaction on 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 sale, the director now owns 19,531 shares in the company, valued at $1,267,757.21. This represents a 9.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $66.40, for a total transaction of $205,840.00. Following the completion of the sale, the president now owns 30,046 shares of the company’s stock, valued at approximately $1,995,054.40. This represents a 9.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,350 shares of company stock valued at $517,010. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Pathward Financial

A number of large investors have recently made changes to their positions in CASH. Mawer Investment Management Ltd. bought a new position in Pathward Financial during the 2nd quarter worth about $12,376,000. F M Investments LLC bought a new position in Pathward Financial during the 2nd quarter worth about $10,784,000. FMR LLC increased its holdings in 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 in the last quarter. American Century Companies Inc. increased its holdings in Pathward Financial by 20.4% during 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, Foundry Partners LLC bought a new position in Pathward Financial during the 2nd quarter worth about $4,669,000. Institutional investors own 92.66% of the company’s stock.

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.