Borrowing money

Pathward Financial Inc (NASDAQ:CASH) Sets New 12-Month Low Following Analyst Downgrade


Pathward Financial, Inc. (NASDAQ: CASHGet a rating) The stock price hit a new 52-week low in trading on Thursday after B. Riley lowered his price target on the stock from $55.00 to $48.00. The stock traded as low as $31.64 and last traded at $32.52, with volume of 10,444 shares changing hands. The stock previously closed at $43.12.

Several other research companies have also recently commented on CASH. Keefe, Bruyette & Woods cut shares of Pathward Financial from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $67.00 to $45.00 in a report released Thursday. StockNews.com cut shares of Pathward Financial from a “hold” rating to a “sell” rating in a Wednesday, June 15 report. Piper Sandler lowered her price target on shares of Pathward Financial from $72.00 to $61.00 and set an “overweight” rating on the stock in a Monday, July 11 report. Finally, Raymond James moved shares of Pathward Financial from a “strong buy” rating to an “outperform” rating and lowered his price target for the company from $70.00 to $46.00 in a report from the Thursday, July 7. One equity research analyst has assigned the stock a sell rating, another has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.00.

Insider Activity at Pathward Financial

In other news, CEO Brett L. Pharr bought 2,500 shares of the company in a trade on Tuesday, June 14. The shares were purchased at an average price of $37.25 per share, with a total value of $93,125.00. As a result of the transaction, the CEO now directly owns 46,875 shares of the company, valued at $1,746,093.75. The acquisition was disclosed in a legal filing with the SEC, accessible via the SEC website. In other news, CEO Brett L. Pharr purchased 2,500 shares of the company in a trade on Tuesday, June 14. The shares were purchased at an average price of $37.25 per share, with a total value of $93,125.00. As a result of the transaction, the CEO now directly owns 46,875 shares of the company, valued at $1,746,093.75. The acquisition was disclosed in a legal filing with the SEC, accessible via the SEC website. Also, director Michael Robert Kramer sold 1,000 shares of the company in a trade on Tuesday, May 31. The stock was sold at an average price of $41.48, for a total transaction of $41,480.00. Following the transaction, the administrator now directly owns 12,850 shares of the company, valued at approximately $533,018. Disclosure of this sale can be found here. 2.00% of the shares are held by insiders of the company.

Institutional entries and exits

A number of large investors have recently changed their positions in the stock. Bank of Montreal Can increased its position in shares of Pathward Financial by 2.9% during the first quarter. Bank of Montreal Can now owns 9,369 shares of the savings and loan company valued at $526,000 after buying an additional 264 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of Pathward Financial by 1.0% during the first quarter. Guggenheim Capital LLC now owns 26,774 shares of the savings and loan company valued at $1,471,000 after buying 272 additional shares in the last quarter. Shell Asset Management Co. increased its position in shares of Pathward Financial by 10.2% during the fourth quarter. Shell Asset Management Co. now owns 3,716 shares of the savings and loan company valued at $222,000 after buying 345 more shares in the last quarter. GPS Wealth Strategies Group LLC increased its position in shares of Pathward Financial by 10.5% during the first quarter. GPS Wealth Strategies Group LLC now owns 4,063 shares of the savings and loan company valued at $223,000 after buying 385 additional shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its position in shares of Pathward Financial by 27.2% during the first quarter. Advisor Group Holdings Inc. now owns 2,116 shares of the savings and loan company valued at $116,000 after buying 453 additional shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s shares.

Pathward Financial Price Performance

The stock’s 50-day moving average price is $39.82 and its 200-day moving average price is $47.99. The company has a market capitalization of $998.41 million, a price-earnings ratio of 6.33 and a beta of 0.96. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt ratio of 0.12.

Pathward Financial (NASDAQ: CASHGet a rating) last reported results on Wednesday, July 27. The savings and loan company reported earnings per share of $0.93 for the quarter, beating consensus analyst estimates of $0.84 by $0.09. The company posted revenue of $126.15 million for the quarter, versus $130.08 million expected by analysts. Pathward Financial had a net margin of 26.84% and a return on equity of 15.34%. The company’s revenue for the quarter was down 3.7% year over year. In the same quarter a year earlier, the company posted earnings per share of $1.21. Equity research analysts expect Pathward Financial, Inc. to post earnings per share of 4.29 for the current year.

Pathward Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 1. Investors of record on Thursday June 9 received a dividend of $0.05. The ex-dividend date was Wednesday, June 8. This represents a dividend of $0.20 on an annualized basis and a yield of 0.59%. Pathward Financial’s payout ratio is currently 3.72%.

Pathward Financial Company Profile

(Get a rating)

Pathward Financial, Inc operates as a holding company for Pathward, National Association which provides various banking products and services in the United States. It operates through three segments: Consumer, Commercial and Corporate Services/Other. The company offers demand deposit accounts, savings accounts, money market savings accounts and certificate accounts.

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