EPS estimates for fiscal year 2022 for Pathward Financial, Inc. (NASDAQ: CASH) reduced by B. Riley
Pathward Financial, Inc. (NASDAQ: CASH – Get a rating) – Stock analysts B. Riley cut their fiscal 2022 earnings estimates for shares of Pathward Financial in a research report released to clients and investors Thursday, July 28. B. Riley analyst S. Moss now expects the savings and loan company to earn $3.98 per share for the year, down from its previous estimate of $4.23. Pathward Financial’s current annual earnings consensus estimate is $4.29 per share. B. Riley also released estimates for Pathward Financial Q4 2022 earnings at $0.70 EPS, Q1 2023 earnings at $0.81 EPS, Q2 2023 earnings at $1.71 EPS, earnings Q3 2023 earnings at $1.44 EPS, Q4 2023 earnings at $1.31 EPS and fiscal year 2023 earnings at $5.25 EPS.
Other equity research analysts have also released reports on the stock. Keefe, Bruyette & Woods downgraded shares of Pathward Financial from an “outperforming” rating to a “market performance” rating and reduced their target price for the stock from $67.00 to $45.00 in a report on Thursday. Piper Sandler cut 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. Raymond James downgraded shares of Pathward Financial from a “strong buy” rating to an “outperform” rating and reduced its target price for the stock from $70.00 to $46.00 in a Thursday, July 7 report . To finish, StockNews.com downgraded shares of Pathward Financial from a “hold” rating to a “sell” rating in a Wednesday, June 15 report. One equity research analyst has assigned the stock a sell rating, one has issued a hold rating and three have assigned the company a buy rating. Based on data from MarketBeat.com, Pathward Financial currently has an average rating of “Hold” and a consensus target price of $50.00.
Performance of Pathward Financial Stocks
Shares of CASH opened at $33.72 on Monday. The company’s 50-day moving average price is $39.75 and its 200-day moving average price is $47.61. The company has a debt ratio of 0.12, a quick ratio of 0.65 and a current ratio of 0.65. Pathward Financial has a one-year low of $31.16 and a one-year high of $65.96. The company has a market capitalization of $990.19 million, a P/E ratio of 6.28 and a beta of 0.96.
Pathward Financial (NASDAQ:CASH – Get a rating) last released its quarterly earnings data on Wednesday, July 27. The savings and loan company reported EPS of $0.93 for the quarter, beating the consensus estimate of $0.84 by $0.09. Pathward Financial had a net margin of 26.84% and a return on equity of 15.34%. The company posted revenue of $126.15 million for the quarter, versus analyst estimates of $130.08 million. During the same period a year earlier, the company posted EPS of $1.21. The company’s revenue for the quarter was down 3.7% from the same quarter last year.
Pathward Financial Dividend Announcement
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. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Wednesday, June 8. Pathward Financial’s dividend payout ratio (DPR) is 3.72%.
Insiders place their bets
In other Pathward Financial news, CEO Brett L. Pharr acquired 2,500 shares in a transaction on Tuesday, June 14. The shares were purchased at an average cost of $37.25 per share, with a total value of $93,125.00. As a result of the transaction, the CEO now owns 46,875 shares of the company, valued at approximately $1,746,093.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. In other Pathward Financial news, CEO Brett L. Pharr acquired 2,500 shares in a trade on Tuesday, June 14. The shares were purchased at an average cost of $37.25 per share, with a total value of $93,125.00. As a result of the transaction, the CEO now owns 46,875 shares of the company, valued at approximately $1,746,093.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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. As a result of the transaction, the administrator now directly owns 12,850 shares of the company, valued at $533,018. Disclosure of this sale can be found here. 2.00% of the shares are currently held by insiders.
Pathward Financial Institutional Trading
Hedge funds have recently changed their positions in the business. Brown Advisory Inc. acquired a new stake in shares of Pathward Financial in the fourth quarter valued at approximately $282,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Pathward Financial in the fourth quarter worth approximately $947,000. Yousif Capital Management LLC acquired a new stake in shares of Pathward Financial in the fourth quarter valued at approximately $1,742,000. Assenagon Asset Management SA increased its stake in the shares of Pathward Financial by 54.3% in the fourth quarter. Assenagon Asset Management SA now owns 52,178 shares in the savings and loan company valued at $3,113,000 after purchasing an additional 18,372 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Pathward Financial by 47.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,497 shares in the savings and loan company valued at $268,000 after purchasing an additional 1,453 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s shares.
Pathward Financial Company Profile
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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