Pathward Financial (NASDAQ:CASH) Lifted to “Hold” at StockNews.com

Posted by on Jun 21st, 2023

Pathward Financial (NASDAQ:CASH – Get Rating) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

Several other research firms also recently issued reports on CASH. Keefe, Bruyette & Woods dropped their price target on shares of Pathward Financial from $49.00 to $47.00 and set a “market perform” rating for the company in a research note on Thursday, April 6th. 92 Resources reissued a “maintains” rating on shares of Pathward Financial in a research report on Thursday, April 27th. Finally, Piper Sandler cut their price objective on shares of Pathward Financial from $63.00 to $59.00 in a research note on Thursday, April 6th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Pathward Financial Trading Down 0.5 %

NASDAQ:CASH opened at $48.08 on Wednesday. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 10.59 and a beta of 0.78. The business’s 50-day simple moving average is $45.17 and its 200 day simple moving average is $45.52. Pathward Financial has a one year low of $31.16 and a one year high of $52.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 0.67.

Pathward Financial (NASDAQ:CASH – Get Rating) last released its earnings results on Wednesday, April 26th. The savings and loans company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.16. Pathward Financial had a net margin of 20.19% and a return on equity of 20.80%. The business had revenue of $228.44 million during the quarter, compared to analysts’ expectations of $210.36 million. During the same quarter last year, the company earned $1.73 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. As a group, sell-side analysts predict that Pathward Financial will post 5.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pathward Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new stake in shares of Pathward Financial during the first quarter worth approximately $34,000. Capital Analysts LLC purchased a new position in shares of Pathward Financial in the 1st quarter worth about $47,000. Tower Research Capital LLC TRC raised its holdings in shares of Pathward Financial by 1,977.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,849 shares of the savings and loans company’s stock worth $77,000 after purchasing an additional 1,760 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Pathward Financial by 60.2% during the 4th quarter. Lazard Asset Management LLC now owns 1,908 shares of the savings and loans company’s stock valued at $82,000 after buying an additional 717 shares during the period. Finally, Rockefeller Capital Management L.P. grew its stake in Pathward Financial by 5,250.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,926 shares of the savings and loans company’s stock valued at $82,000 after purchasing an additional 1,890 shares in the last quarter. 88.41% of the stock is owned by institutional investors and hedge funds.

Pathward Financial Company Profile

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Pathward Financial, Inc operates as the 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, money market savings accounts, and certificate accounts.

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