Pathward Financial (NASDAQ:CASH) Stock Price Breaks Below Fifty Day Moving Average – Here’s Why

Pathward Financial, Inc. (NASDAQ:CASH) crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $75.74 and traded as low as $74.34. Pathward Financial shares last traded at $75.12, with a volume of 164,126 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on CASH shares. Keefe, Bruyette & Woods lowered their price objective on shares of Pathward Financial from $108.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Piper Sandler reiterated an “overweight” rating and set a $105.00 price objective (down from $107.00) on shares of Pathward Financial in a research note on Thursday, July 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Pathward Financial in a research report on Tuesday, November 3rd. Three research analysts have rated the stock with a Buy rating. According to data from MarketBeat, Pathward Financial presently has an average rating of “Buy” and an average price target of $101.00.

Pathward Financial Trading Down 0.2%

The business’s 50-day simple moving average is $75.50 and its two-hundred day simple moving average is $84.86. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.56 billion, a PE ratio of 9.23 and a beta of 0.64.

Pathward Financial (NASDAQ:CASH) last announced its earnings results on Wednesday, October 21st. The savings and loans company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.27. The business had revenue of $183.12 million for the quarter, compared to analyst estimates of $179.10 million. Pathward Financial had a return on equity of 20.82% and a net margin of 21.11%. On average, analysts predict that Pathward Financial, Inc. will post 9.70 earnings per share for the current year.

Pathward Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, September 10th. This represents a $0.20 annualized dividend and a yield of 0.3%. Pathward Financial’s payout ratio is currently 2.46%.

Institutional Trading of Pathward Financial

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Pathward Financial in the second quarter worth $270,275,000. Allspring Global Investments Holdings LLC grew its holdings in Pathward Financial by 49.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 506,415 shares of the savings and loans company’s stock worth $37,333,000 after acquiring an additional 167,122 shares in the last quarter. Neumeier Poma Investment Counsel LLC acquired a new position in Pathward Financial during the 2nd quarter worth $30,633,802. Bank of America Corp DE increased its position in shares of Pathward Financial by 571.3% in the 1st quarter. Bank of America Corp DE now owns 302,503 shares of the savings and loans company’s stock worth $26,992,000 after purchasing an additional 257,443 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Pathward Financial in the 2nd quarter worth about $13,918,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

Pathward Financial Company Profile

Pathward Financial, Inc. is a financial services holding company whose principal subsidiary is Pathward, National Association. Formerly known as Meta Financial Group, the company adopted the Pathward name in 2022; its bank subsidiary was also renamed as part of the rebranding. Pathward provides banking, payments and specialty finance services to consumers and businesses across the United States. Its offerings include deposit accounts, prepaid and payment solutions, and services that support tax refund disbursements.