Short Interest in Pathward Financial, Inc. (NASDAQ:CASH) Declines By 10.4%

Pathward Financial, Inc. (NASDAQ:CASH) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 1,550,000 shares, a decline of 10.4% from the March 31st total of 1,730,000 shares. Based on an average daily trading volume, of 179,200 shares, the days-to-cover ratio is presently 8.6 days. Currently, 6.2% of the company’s shares are sold short.

Pathward Financial Stock Down 1.5 %

NASDAQ:CASH opened at $52.14 on Monday. Pathward Financial has a twelve month low of $41.34 and a twelve month high of $60.49. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 7.83 and a beta of 0.71. The stock has a fifty day simple moving average of $50.04 and a 200-day simple moving average of $50.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05.

Pathward Financial (NASDAQ:CASH) last released its earnings results on Wednesday, April 24th. The savings and loans company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.19. Pathward Financial had a return on equity of 25.09% and a net margin of 22.90%. The business had revenue of $247.25 million during the quarter, compared to the consensus estimate of $240.46 million. During the same period last year, the company earned $2.18 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts anticipate that Pathward Financial will post 6.43 EPS for the current year.

Pathward Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.38%. Pathward Financial’s payout ratio is currently 3.00%.

Insiders Place Their Bets

In other Pathward Financial news, President Anthony M. Sharett sold 1,000 shares of Pathward Financial stock in a transaction on Friday, March 15th. The shares were sold at an average price of $47.50, for a total transaction of $47,500.00. Following the completion of the transaction, the president now directly owns 33,146 shares of the company’s stock, valued at $1,574,435. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is owned by insiders.

Institutional Trading of Pathward Financial

Several institutional investors and hedge funds have recently made changes to their positions in CASH. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Pathward Financial in the first quarter valued at about $17,819,000. Grizzlyrock Capital LLC bought a new stake in shares of Pathward Financial in the fourth quarter valued at about $10,237,000. Greenwich Investment Management Inc. bought a new stake in shares of Pathward Financial in the fourth quarter valued at about $6,861,000. Moody Aldrich Partners LLC bought a new stake in shares of Pathward Financial in the third quarter valued at about $4,157,000. Finally, Stifel Financial Corp raised its holdings in shares of Pathward Financial by 981.5% in the third quarter. Stifel Financial Corp now owns 98,040 shares of the savings and loans company’s stock valued at $4,519,000 after acquiring an additional 88,975 shares in the last quarter. 92.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler dropped their price objective on shares of Pathward Financial from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Keefe, Bruyette & Woods decreased their target price on Pathward Financial from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, April 5th.

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.