Pathward Financial, Inc. (NASDAQ:CASH) Short Interest Up 9.4% in July

Pathward Financial, Inc. (NASDAQ:CASH) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 1,630,000 shares, an increase of 9.4% from the July 15th total of 1,490,000 shares. Currently, 6.6% of the shares of the stock are sold short. Based on an average trading volume of 186,300 shares, the days-to-cover ratio is currently 8.7 days.

Pathward Financial Stock Performance

Shares of CASH stock opened at $64.58 on Monday. The company has a market capitalization of $1.63 billion, a P/E ratio of 9.70 and a beta of 0.68. Pathward Financial has a fifty-two week low of $41.79 and a fifty-two week high of $69.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.73. The stock has a 50 day moving average price of $59.91 and a two-hundred day moving average price of $54.33.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings data on Wednesday, July 24th. The savings and loans company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.55 by $0.11. Pathward Financial had a net margin of 22.10% and a return on equity of 23.59%. The firm had revenue of $176.73 million during the quarter, compared to the consensus estimate of $176.63 million. During the same period in the prior year, the firm posted $1.76 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts expect that Pathward Financial will post 6.6 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Piper Sandler boosted their price objective on shares of Pathward Financial from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th.

Hedge Funds Weigh In On Pathward Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new position in Pathward Financial in the 2nd quarter worth about $25,000. Quarry LP raised its stake in shares of Pathward Financial by 419.0% in the second quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock worth $29,000 after purchasing an additional 419 shares during the last quarter. Gladius Capital Management LP purchased a new position in Pathward Financial in the 2nd quarter worth about $31,000. Kennicott Capital Management LLC purchased a new stake in shares of Pathward Financial during the 4th quarter valued at about $35,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Pathward Financial during the 1st quarter valued at about $59,000. Institutional investors own 92.66% of the company’s stock.

About Pathward Financial

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.